Indian market is expected to trade flat-to-lower on Friday tracking mixed global cues.
The S&P BSE Sensex rose more than 100 points while the Nifty50 closed just a shade below 17900 levels on Thursday.
India VIX moved down by 4.12% from 13.57 to 13.04 levels on Thursday. Volatility has been overall falling down from the last eight sessions and now needs to hold at lower zones for market stability.
On the Options front, the weekly maximum Call OI is placed at 18000 and then towards 18200 strikes while the maximum Put OI is placed at 17800 and then towards 17600 strikes.
“Options data suggests a broader trading range in between 17400 to 18200 zones while an immediate trading range in between 17700 to 18050 zones,” Chandan
, Analyst-Derivatives at Limited, said.
“Nifty formed a small-bodied Bullish candle on a daily scale with longer lower shadow indicating buying at declines,” he said.
“Now, the index needs to hold above 17850 zones, for an up move towards 18018 then 18081 zones whereas supports are placed at 17777 and 17650 zones,” added Taparia.We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities told ETBureau
: Buy| Target Rs 2900| Stop Loss Rs 2770
The stock has formed a rounding bottom pattern on the daily charts which suggests that the counter is gaining traction for a fresh upmove.: Buy| Target Rs 4780| Stop Loss Rs 4565
The stock breakout from a bullish flag pattern with decent volume indicates that the upward momentum is likely to sustain.: Buy| Target Rs 1045| Stop Loss Rs 1000
The stock witnessed a reversal from its multiple support area on the daily chart which indicates that an uptrend is likely to resume.: Buy| Target Rs 330| Stop Loss Rs 313
The stock is going through a consolidation phase forming a flag chart pattern, which indicates a bullish continuation.
Expert: Kunal Bothra, Market Expert told ETNow
: Buy| Target Rs 888| Stop Loss Rs 850: Buy| Target Rs 700| Stop Loss Rs 622
Bector Foods: Buy| Target Rs 550| Stop Loss Rs 475
Expert: Nooresh Merani, an independent technical analyst told ETNow
: Buy| Target Rs 2450| Stop Loss Rs 2290
L&T: Buy| Target Rs 2250| Stop Loss Rs 2080
: Buy| Target Rs 70| Stop Loss Rs 50
(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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