The S&P BSE Sensex fell more than 150 points while Nifty50 failed to hold on to 18,000 levels on Monday.
India VIX was up by 3.89% from 14.46 to 15.02 levels on Monday. Volatility slightly spiked giving discomfort to the bulls.
On the options front, the weekly maximum Call OI is placed at 18000 and then towards 18100 strikes while the maximum Put OI is placed at 17900 and then towards 17800 strikes.
“Option data suggests a shift in a trading range in between 17700 to 18300 zones while an immediate trading range in between 17800 to 18100 zones,” Chandan
, Analyst-Derivatives at Limited, said.
“Nifty formed a Bearish candle on the daily scale on Monday but has been making higher highs from the last two sessions,” he said.
“Now, the Nifty50 has to hold above 17850 zones for an up move towards 18050 and 18123 zones whereas supports are placed at 17850 and 17777 zones,” recommends Taparia.We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Dharmesh Shah, Head – Technical, told ETBureau
: Buy| Target Rs 3460| Stop Loss Rs 3253
The stock has formed a higher base above the upper band of the falling channel with a decline of CY22 providing favourable risk-reward.: Buy| Target Rs 127| Stop Loss Rs 116
The stock is sustaining above the recent cup & handle breakout area and MACD is in a buy mode.: Buy| Target Rs 62.50| Stop Loss Rs 56.80
The stock recorded a breakout above the bullish flag-like formation with a higher base at the 20 days EMA.
Expert: Kunal Bothra, Market Expert told ETNow
: Buy| Target Rs 330| Stop Loss Rs290
Tata Motors:Buy| Target Rs 450| Stop Loss Rs 400
Expert: Nooresh Merani, an independent technical analyst told ETNow
: Buy| Target Rs 1450| Stop Loss Rs 1190: Buy| Target Rs 100| Stop Loss Rs 85
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
