On Tuesday, the Nifty Futures lowered 0.56% lower at 24,415. India Wicks, market volatility gauge, rose more than 3% in the previous session to 19.
Options on the front, maximum Call L open interest (OI) is found at 24,500 and 25,000 strike prices, while the maximum put OI 24,400 and 24,000 is on strike.
Call L writing was found at 24,400 and 24,500 levels, while put writing was seen at 24,400 and 24,200.
“Options data indicates a wide range of trade between 23,800 and 24,800 zones, with an immediate range of 24,100 and 24,600.”
Living events
He added, “The Nifty formed a bearish candle on the Daily Chart on Tuesday, closing with a loss of approximately the point.
“For the strength of returning, the index needs to move and sustain than 24,400 zones, which can lead to 24,650 and then 24,750. On loss, support is found at 24,200 and then 24,050,” Taparia said.
Shares to look for short -term trade as per expert’s recommendations:
Expert: Jatin Gedia – Technical Research Analyst, Sher Khan (ET Bureau) by BNP Paribas
Tata Steel Limited: Buy | Target: Rs. 150 | Stop loss: 141 rupees
Maruti Suzuki India Ltd. Buy | Aim: Rs. 12,950 | Stop loss: Rs. 12,360
Colgate Palmolive India Limited: Buy | Target: Rs. 2,721 | Stop loss: Rs 2,585
Expert: Kranal Bathra – Market Expert (Now and Now)
ICICI Bank: Buy | Target: Rs. 1,485 | Stop loss: Rs. 1,400
Narayan Hrudalaya: Buy | Target: 1,880 | Stop loss: Rs. 1,800
United Spirits Ltd. Buy | Target: Rs. 1,620 | Stop loss: Rs. 1,555
(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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