The Indian market is expected to trade higher on Tuesday, supported by positive global cues.Nifty futures closed lower on Monday, slipping 0.45% to 24,965. Meanwhile, India VIX rose nearly 5% to close at 17.36, indicating heightened volatility.On the options front, the maximum Call open interest (OI) is placed at the 26,000 and 25,000 strike prices, while the maximum Put OI is seen at 24,000 and 24,500 strikes.Call writing is observed at the 25,000 and 25,200 strikes, while Put writing is active at 24,900 and 25,000 strikes.“Options data suggests a broader trading range between 24,500 and 25,500, with an immediate range of 24,750 to 25,200,” said Chandan Taparia, Analyst–Derivatives at Motilal Oswal Financial Services.“On the daily chart, Nifty50 formed a small-bodied bearish candle on Monday and has been making lower lows for the past two sessions,” he added.“Now the index needs to cross and hold above 25,000 to move towards 25,200 and 25,400, while supports are placed at 24,850 and 24,750,” Taparia recommended.Both foreign and domestic institutional investors turned cautious on Monday.According to provisional NSE data, Foreign Institutional Investors (FIIs) sold Indian equities worth Rs 526 crore on May 19, while Domestic Institutional Investors (DIIs) were net sellers of Rs 238 crore.Expert Picks for Short-Term TradersSource: Ajit Mishra, SVP – Research, Religare Broking Ltd (as told to ET Bureau)-Divi’s Laboratories Ltd: Buy | Target: Rs 7,150 | Stop Loss: Rs 6,300-Dixon Technologies: Buy | Target: Rs 18,400 | Stop Loss: Rs 15,450-GAIL India: Buy | Target: Rs 198 | Stop Loss: Rs 184-ICICI Prudential Life: Buy | Target: Rs 660 | Stop Loss: Rs 605(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times)
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