The S&P BSE Sensex rose more than 800 points while the Nifty50 reclaimed 18100 levels on Monday.
India VIX was down by 2.08% from 15.02 to 14.70 levels on Monday. Volatility cooled off and gave way for the bulls and it now needs to sustain below 14 zones for stability to resume.
On the options front, the weekly maximum Call OI is placed at 18300 and then towards 18200 strikes while the weekly maximum Put OI is placed at 18000 and then towards 17800 strikes.
“Options data suggests a shift in a trading range in between 17700 to 18400 zones while an immediate trading range in between 17850 to 18250 zones,” Chandan
, Analyst-Derivatives at Limited, said.
“Nifty formed a Bullish candle on daily scale on Monday and negated its lower highs formation of the last three sessions. Now, it has to hold above 18081 for an up move towards 18181 and 18250 zones whereas support is placed at 18018 and 17950 zones,” he said.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Ajit Mishra, VP – Technical, Broking told ETBureau
: Buy| Target Rs 162| Stop Loss Rs 145
The stock is inching gradually higher after the breakout from the corrective phase. We expect the positive tone to continue.
: Buy| Target Rs 106| Stop Loss Rs 94
The stock is marching towards the upper band i.e. 110 after reclaiming the major moving averages.
: Buy| Target Rs 138| Stop Loss Rs 110
The stock is maintaining its steady uptrend. The chart pattern indicates that the prevailing bias to continue.
ZEE
: Sell| Target Rs 218| Stop Loss Rs 246
After failed attempts to reclaim major moving averages, the stock has been trading with negative bias.
Expert: Kunal Bothra, Market Expert told ETNow
L&T Finance: Buy| Target Rs 96| Stop Loss Rs 87
: Buy| Target Rs 2650| Stop Loss Rs 2550
Expert: Nooresh Merani, an independent technical analyst told ETNow
L&T: Buy| Target Rs 2250| Stop Loss Rs 2060
M&M: Buy| Target Rs 1400| Stop Loss Rs 1250
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
