Indian market remains shut on Tuesday on account of a public holiday.
India VIX was down by 2.74% from 12.94 to 12.58 on Monday. Volatility has been falling from the last four trading sessions which is giving some comfort to the bulls.
On the options front, the weekly maximum Call OI is placed at 17700 and then towards 17500 strikes while the maximum Put OI is placed at 17000 and then towards 17200 strikes.
“Options data suggests a broader trading range in between 17000 to 17700 zones while an immediate trading range in between 17250 to 17550 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty50 formed a small-bodied bearish candle with a long lower shadow which indicates that declines are being bought,” he said.
“Now, Nifty has to hold above 17350 zones to extend the move towards 17500 then 17600 zones while on the downside supports shift higher at 17300 then 17171 marks,” recommended Taparia.We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Nagaraj Shetti, Technical Research Analyst at HDFC Securities told ETBureau
PFC April FUT: Buy| Target Rs 161| Stop Loss Rs 153
Expert: Kunal Bothra, Market Expert told ETNow
Bajaj Auto: Buy| Target Rs 4100| Stop Loss Rs 3945
ICICI Prudential: Sell| Target Rs 428| Stop Loss Rs 447
Expert: Nooresh Merani, an independent technical analyst told ETNow
SBI: Buy| Target Rs 560| Stop Loss Rs 515
Indian Hotels: Buy| Target Rs 360| Stop Loss Rs 310
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times)
