The Nifty Futures closed with a gain of 1.09% at 24,998 on Monday.
Options on the front, maximum Call L open interest (OI) is found at 25,300 and 25,500 strike prices, while maximum put OI 24,000 and then 24,800 strike.
Call L writing was found on 24,900 and 25,300 strike, while Put writing was seen at 24,800 and 24,900 levels.
“Options data indicates a comprehensive trading range between 24,450 and 25,450, while the immediate range remains between 24,750 and 25,150,” said Chandan Taparia, an analyst of Motilal Oswal Financial Services.
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He added, “The Nifty formed a boom candle on the daily chart and rejected the lower s.
“Now, it must be up to 24,900 zones to support the side ladder towards 25,100 and then 25,250 zones, while the support has been high and then 24,700,” Taparia recommended.
The BSE Sensex also set up a boom candle on the Daily Chart, which rejected the lower-lower composition of the previous session.
Expert: Ajit Mishra, SVP – Technical Research, Religious Broking Limited (by ET Bureau)
Apollo Hospitals Ltd.: Buy | Target: Rs. 7,480 | Stop loss: Rs 6,900
Biocon Limited: Buy | Aim: Rs. 382 | Stop loss: Rs. 344
HCL Technologies Limited: Buy | Target: Rs. 1,860 | Stop damage: 1,660 rupees
TVS Motor Limited: Buy | Target: Rs. 2,980 | Stop loss: Rs. 2,700
Expert: Karnal Bathra, Market Expert (by ET Now)
Grasim Industries Limited: Buy | Target: Rs. 2,780 | Stop Damage: 2,680 rupees
Nitibazar (PB Fintk): Buy | Target: 1,980 | Stop loss: 1,880 rupees
MCX: Buy | Target: Rs. 8,000 | Stop loss: Rs. 7,700
(Connection: The recommendations, suggestions, views and views of the experts are their own. This does not represent opinions of economic time)
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