The S&P BSE Sensex rose more than 900 points while the Nifty50 reclaimed 17800 levels on Friday.
India VIX moved down by 8.47% from 15.73 to 14.39 levels on Friday. Volatility has come down from higher levels from the last two sessions which is a positive sign.
On the options front, the weekly maximum Call OI is placed at 18000 and then towards 18200 strikes while the maximum Put OI is placed at 17700 and then towards 17500 strikes.
“Options data suggests a broader trading range in between 17400 to 18300 zones while an immediate trading range in between 17600 to 18000 zones,” Chandan
, Analyst-Derivatives at Limited, said.
“Nifty formed a Bullish candle with long lower shadow on a daily and weekly scale which indicates buying interest on declines,” he said.
“Now, the index needs to hold above 17850 zones, for an up move towards 17950 then 18081 zones whereas supports are placed at 17777 and 17650 zones,” recommends Taparia.We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Nooresh Merani, an independent technical analyst told ETNow
: Buy| Target Rs 170| Stop Loss Rs 147: Buy| Target Rs 920| Stop Loss Rs 850
Expert: Kunal Bothra, Market Expert told ETNow
: Buy| Target Rs 6250| Stop Loss Rs 5900: Buy| Target Rs 1700| Stop Loss Rs 1550
FSL: Buy| Target Rs 122| Stop Loss Rs 109
Expert: Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher Pvt. Ltd told ETMarkets.com
AB Capital: Buy| Target Rs 155| Stop Loss Rs 135
(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. These do not represent the views of Economic Times)
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