1 day Ago
Indian markets are likely to open higher on Tuesday, tracking positive global cues.The Nifty futures closed with strong gains of 2.08% at 22,948 on Friday.
Meanwhile, India VIX declined over 6% to end at 20.11 in the previous session, indicating easing volatility.On the options front, maximum Call open interest (OI) is seen at the 24,500 and 24,000 strike prices, while maximum Put OI is placed at 22,500 and 22,000 strikes.
Call writing was observed at the 22,800 and 23,500 strikes, while Put writing was seen at 22,800 and 22,700 strikes.“Options data suggests a broader trading range between 22,200 and 23,300, with an immediate range between 22,500 and 23,100,” said Chandan Taparia, Analyst - Derivatives at Motilal Oswal Financial Services.“On the technical front, the Nifty gave a breakout from an inside bar pattern on the daily chart and formed a large bullish candle on the weekly chart last week—indicating a shift in momentum and the potential for further upside if follow-up buying sustains,” he added.
“Now, the index must hold above the 22,500 zone for a bounce towards 23,000 and then 23,200 levels. Support levels are now shifting higher to 22,500 and then 22,300,” Taparia said.Stocks to Watch: Expert Picks for Short-Term TradersExpert: Dharmesh Shah, Head – Technical, ICICI Securities (via ETBureau)Reliance Industries: Buy | Target: Rs 1,290 | Stop Loss: Rs 1,168Bajaj Finance: Buy | Target: Rs 9,398 | Stop Loss: Rs 8,598Deepak Fertilizers: Buy | Target: Rs 1,288 | Stop Loss: Rs 1,138Expert: Kunal Bothra, Market Expert (via ETNow)NTPC: Buy | Target: Rs 375 | Stop Loss: Rs 353Titan Company: Buy | Target: Rs 3,400 | Stop Loss: Rs 3,130Laurus Labs: Buy | Target: Rs 630 | Stop Loss: Rs 590(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own.
These do not represent the views of the Economic Times).
