Sectorally, selling was seen in IT, metals, realty, banks, and finance stocks.
The rupee hit a fresh low of 80.07 against the US dollar in opening trade on Monday after Federal Reserve Chair Jerome Powell signalled that restrictive policy would be kept longer to bring down inflation.
The highest new OI addition was seen at 17700 for Calls and 17000 for Puts in weekly and at 18000 for Calls and 16000 for Puts in monthly contracts.
Stock market across Asia tumbled in line with US markets after Federal Reserve Chair Jerome Powell said the US central bank would raise rates as high as needed and would keep them there “for some time” to bring down inflation near its medium-term goal.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Chandan , Derivative & Technical Analyst, MOSL told ET Bureau
L&T: Buy| Target Rs 2000| Stop Loss Rs 1860
The stock is forming higher lows for the last 9 weeks and is moving upwards despite the volatile swings of the market.
Titan Company: Buy| Target Rs 2650| Stop Loss Rs 2475
The price has seen a price-volume breakout on the daily frame and is making higher highs for the last 8 weeks which is a positive sign for the bulls.
Mphasis: Sell| Target Rs 2070| Stop Loss Rs 2215
The stock made a strong Bearish candle on the weekly frame and wiped off its gains of the last few weeks.
Lupin: Sell| Target Rs 625| Stop Loss Rs 666
The stock breached its 50-WEMA and closed below it with increased volumes on the short side
Expert: Chandan Taparia, Derivative & Technical Analyst, MOSL told ETNow
NTPC: Buy| Target Rs 170| Stop Loss Rs 159
Poonawala Fincorp: Buy| Target Rs 320| Stop Loss Rs 280
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)