The Nifty futures closed positively, gaining 0.43% to reach 25,506 levels on Thursday.
On the options front, the maximum Call open interest (OI) is at the 26,000 strike, followed by the 25,500 strike, while the maximum Put OI is at the 25,000 strike, followed by the 24,500 strike.
Call writing is observed at the 25,500 and 26,000 strikes, while Put writing is seen at the 25,500 and 24,700 strikes.
“Options data suggests a broader trading range between the 25,000 and 25,900 zones, with an immediate range between 25,300 and 25,700 levels,” said Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited.
“Nifty formed a small-bodied bearish candle on the daily chart on Thursday, erasing most of its intraday gains,” he noted.“The index needs to hold above the 25,350 level for an upward move towards 25,600 and then 25,750. Supports are at 25,350 and then 25,250,” Taparia recommended.We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:
Expert: Pritesh Mehta, Lead Technical Analyst at YES Securities told ETBureau
ICICI Bank: Buy | Target: Rs 1,365 | Stop Loss: Rs 1,260
Cholamandalam Investment & Finance Company: Buy | Target: Rs 1,740 | Stop Loss: Rs 1,545
ITC: Buy | Target: Rs 550 | Stop Loss: Rs 496
Expert: Kunal Bothra, Market Expert told ETNow
Titan Company: Buy | Target: Rs 3,900 | Stop Loss: Rs 3,700
HDFC Bank: Buy | Target: Rs 1,750 | Stop Loss: Rs 1,670
Aditya Birla Capital: Buy | Target: Rs 250 | Stop Loss: Rs 224
Expert: Nooresh Merani, an independent technical analyst told ETNow
HDFC Bank: Buy | Target: Rs 1,750 | Stop Loss: Rs 1,690
Jubilant FoodWorks: Buy | Target: Rs 750 | Stop Loss: Rs 685
L&T Finance: Buy | Target: Rs 190 | Stop Loss: Rs 174
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times)
Read More: Stocks to buy today: ICICI Bank, ITC among top 9 trading ideas for September 20, 2024