The S&P BSE Sensex and Nifty50 closed flat on Tuesday. The Nifty50 managed o hold on to 18100 levels towards the close of the trade.
India VIX was down by 0.28% from 14.08 to 13.40 levels on Tuesday. Volatility has been hovering at lower levels from the last nine weeks and supporting the bulls to hold the overall command.
On the options front, the maximum Call OI is placed at 19000 and then towards 20000 strikes while the maximum Put OI is placed at 18000 and then towards 18500 strikes.
“Options data suggests a broader trading range in between 18400 to 19200 zones while an immediate trading range in between 18400 to 18800 zones,” Chandan
, Analyst-Derivatives at Limited, said.
“Nifty formed a small-bodied Bullish candle on the daily scale on Tuesday and negated its lower lows formation of the last four sessions,” he said.
“Now, the index has to hold above 18550 zones, for an up move towards 18700 then 18881 zones whereas supports are placed at 18442 and 18350 zones,” added Taparia.We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Ajit Nayak, Technical and Derivative Analyst Securities told ETBureau
: Buy| Target Rs 379| Stop Loss Rs 341.50
The daily RSI is pushing above 60 levels; volume has started to expand during the recent up move.: Buy| Target Rs 477|Stop Loss Rs 403
The stock price is attempting to break through a falling trendline drawn by connecting highs at the 488 level.
Expert: Nooresh Merani, an independent technical analyst told ETNow
: Buy| Target Rs 900| Stop Loss Rs 855: Buy| Target Rs 115| Stop Loss Rs 99: Buy| Target Rs 330| Stop Loss Rs 298
Expert: CA Rudramurthy, managing director at Vachana Investments
: Buy| Target Rs 400| Stop Loss Rs 300
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
