Nifty futures closed on a positive note on Friday with a gain of 0.14% at 26,345.
On the options front, the maximum call OI is placed at 27,000 and then 27,500 strikes while the maximum put OI is placed at 26,000 and then 25,000 strikes.
Call writing looks at 27,000 and then 26,250 strikes while put writing looks at 26,200 and then 26,250 strikes.
“Options data suggests a broad trading range in the 25,700 to 26,700 zone while the immediate range is between 26,000 to 26,400 levels,” said Chandan Taparia, analyst-derivatives at Motilal Oswal Financial Services Ltd.
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“The Nifty formed a small-bodied bearish candle on the daily frame on Friday but a strong bullish candle on the weekly frame,” he said.
“The index has been making highs for the past seven weeks. Now it has to hold above 26,150 zone to move towards 26,350 then 26,500 zone while support is placed at 26,100 then 26,000 zone,” recommended Taparia.
We have collected a list of stocks from F&O basket along with cash market from various experts for traders with short term trading horizon:
Expert: Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Ltd told ET Bureau
Gravity India: Buy | Target Rs. 2700| Stop loss of Rs 2520
Praj Industries: Buy | Target Rs 840 | Stop Loss Rs. 780
Colgate Palmolive India: Buy | Target Rs. 3900| Stop loss of Rs 3675
F&O Strategy –
TVS Motor Future (October 31 Expiration): Buy | Target Rs. 3100| Stop loss of Rs 2900
Titan Future (October 31 Expiration): Buy | Target Rs 4020 | Stop loss of Rs 3765
Expert: Nooresh Merani, Independent Technical Analyst told ETNow
RIL: Buy | Target Rs. 3200| 3000 rupees stop loss
Eicher Motors: Buy | Target Rs 5400 | Stop loss of Rs 4850
NLC India: Buy | Target Rs. 330| Stop loss of Rs 280
(disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. (These do not represent the views of The Economic Times)
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