Sectorally, buying was seen in IT, metals, realty, and consumer discretionary.
The highest new open interest (OI) addition was seen at 18,000 for Calls and 17,000 for Puts in weekly and at 18,000 for Calls and 16,000 for Puts in monthly contracts. Hence, 18,000 will act as a crucial resistance level.
“India VIX declined as we approach 17,900 levels which encourages us to look for 18,160-18,600 levels on the Nifty50 in the near term,” Anand James – Chief Market Strategist at
“Alternatively, inability to float above 17,750, will negate our bullish bias, and revisit chances of 17,000-16,650, should 17,450 give away as well,” he said.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Sagar Doshi, Technical Head, Research, told ETBureau
Adani Ports: Buy| Target Rs 960| Stop Loss Rs 880
The stock gave a range break out on the monthly chart after 18 months of consolidation with rising volume and OI.
Bharat Forge: Buy| Target Rs 840| Stop Loss Rs 756
The stock formed a higher high and an inverse head and shoulder pattern break out that suggests the stock has good upside potential.
SAIL: Buy| Target Rs 88| Stop Loss Rs 80
Inside bar formation breakout suggests that the stock is likely to reclaim 88 levels soon.
Balaji Amine: Buy| Target Rs 4200| Stop Loss Rs 3400
The stock has formed an inverse head &shoulder pattern on the weekly charts. Volume and strength suggest break out on higher side.
Expert: Kunal Bothra, Market Expert told ETNow
Infosys: Buy| Target Rs 1600| Stop Loss Rs 1460
IndusInd Bank: Buy| Target Rs 1170| Stop Loss Rs 1110
Anant Raj: Buy| Target Rs 129| Stop Loss Rs 86
Expert: Chandan , Vice President, Equity Derivatives – Technical, Broking & Distribution, told ETNow
Tech Mahindra: Buy| Target Rs 1165| Stop Loss Rs 1105
RBL Bank: Buy| Target Rs 134| Stop Loss Rs 125
SBI: Buy| Target Rs 575| Stop Loss Rs 542
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)