Nifty future closed negative with losses of 0.90% at 22731 levels on Wednesday. India's VIX declined marginally by 0.08%, from 24.20 to 24.18 levels.
About him options From the front, the maximum Call OI stands at 23000 and then towards 22900 strikes while the maximum Put OI stands at 22500 and then towards 22700 strikes.
Call writing is seen at 22900 and then towards 22900 strikes, while Minor Put writing is seen at 22500 and then towards 22600 strikes.
“Options data suggests a broader view trade range between 22,500 and 23,000 zones,” says Chandan Taparia, derivatives analyst at Motilal Oswal Financial Services LimitedFIIs were sold for a sum of Rs 5,841.84 cr, while DIIs were bought for a sum of 5,233.79 cr in the cash segment of the stock markets on Wednesday. The FII long-short ratio for index futures is 49.5 on a net basis. “For the May monthly series, the OI PCR is at 0.65 and the maximum pain is at 22,800 strikes. Strike 22800 has significant call open interest, followed by strike 22900. On the sell side, 22700 has significant open interest, followed by 22600 strikes,” says Sudeep Shah, Assistant Vice President and Head of Technical and Derivative Research. SBI Values"Going forward, the 22600-22570 zone will act as crucial support for the index as it is the confluence of the 20-day EMA level and the 38.2 percent Fibonacci retracement level of its previous bullish rally. (21821-23110)," he said. .
“Any sustainable move below the 22570 level will lead to an extension of the pullback towards the 22350 level in the near term. Meanwhile, resistance has shifted down in the area of 22820-22850 level,” Shah advised.
We have compiled a list of stocks of the F&O basket along with the spot market from various experts for traders who have a short-term trading horizon:
Expert: said Jayesh Bhanushali, Senior Derivatives & Technical Research Analyst, IIFL ETB Office
Jubilant FoodWorks: Buy| Target Rs 538 | Stop Loss 496 rupees
Torrent Pharma: Buy | Target Rs 2800 | Stop Loss Rs 2650
Hindalco Industries: Buy| Target Rs 740 | Stop Loss 685 rupees
Expert: Kunal Bothra, said a market expert ETNow
Dr. Reddy's Laboratories: Buy| Target Rs 6200 | Stop Loss Rs 5900
Asian paintings: Buy| Target Rs 3100 | Stop Loss Rs 2800
Exide Industries: Buy| Target Rs 530 | Stop Loss 494 rupees
(Disclaimer: Expert recommendations, suggestions, views and opinions are their own. They do not represent the views of the Economic Times)
