The Nifty futures closed with gains of 1.09% at 24,998 on Monday.
On the options front, the maximum Call open interest (OI) is seen at the 25,300 and 25,500 strike prices, while the maximum Put OI is placed at 24,000 and then 24,800 strikes.
Call writing was observed at the 24,900 and 25,300 strikes, while Put writing was seen at the 24,800 and 24,900 levels.
“Options data suggests a broader trading range between 24,450 to 25,450, while the immediate range lies between 24,750 to 25,150,” said Chandan Taparia, Analyst–Derivatives at Motilal Oswal Financial Services.
“Nifty formed a bullish candle on the daily chart and negated the lower highs–lower lows formation of the previous two sessions,” he added.“Now, it must hold above 24,900 zones to support an upside move toward 25,100 and then 25,250 zones, while support has shifted higher to 24,850 and then 24,700,” Taparia recommended.The BSE Sensex also formed a bullish candle on the daily chart, negating the lower-low formation of the previous session.
Expert: Ajit Mishra, SVP – Technical Research, Religare Broking Ltd (via ET Bureau)
Apollo Hospitals Ltd: Buy | Target: Rs 7,480 | Stop Loss: Rs 6,900
Biocon Ltd: Buy | Target: Rs 382 | Stop Loss: Rs 344
HCL Technologies Ltd: Buy | Target: Rs 1,860 | Stop Loss: Rs 1,660
TVS Motor Ltd: Buy | Target: Rs 2,980 | Stop Loss: Rs 2,700
Expert: Kunal Bothra, Market Expert (via ET Now)
Grasim Industries Ltd: Buy | Target: Rs 2,780 | Stop Loss: Rs 2,680
Policybazaar (PB Fintech): Buy | Target: Rs 1,980 | Stop Loss: Rs 1,880
MCX: Buy | Target: Rs 8,000 | Stop Loss: Rs 7,700
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
