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Sectorally, buying was seen in realty, IT, and finance while selling was seen in power, utilities, consumer durables, and capital goods stocks.
The immediate support for the index is placed around 17450 levels while on the higher side some resistance is visible above 17700 levels.
The highest new OI addition was seen at 18000 for Calls and 17500 for Puts in weekly and at 18000 for Calls and 17500 for Puts in monthly contracts.
“On the technical front, immediate support and resistance for Nifty50 are 17475 and 17750, respectively. Bank Nifty’s immediate support and resistance are 38400 and 39300, respectively,” Mohit Nigam, Head – PMS, Hem Securities, said.
We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Nayak Ajit Srinivas, Technical and Derivatives Analyst, Securities told ETBureau
City Union Bank: Buy| Target Rs 193| Stop Loss Rs 170
The company has formed a bullish engulfing pattern on the daily chart with rising volumes. The stock is firmly placed above all key moving averages which is a positive sign for the bulls.
NMDC: Buy| Target Rs 128| Stop Loss Rs 113
The stock price has broken out from the bullish “Flag” pattern on the daily chart with rising volumes.
Expert: Kunal Bothra, Market Expert told ETNow
M&M: Buy| Target Rs 1300| Stop Loss Rs 1250
Welspun Corp: Buy| Target Rs 250| Stop Loss Rs 224
JK Tyres: Buy| Target Rs 152| Stop Loss Rs 135
Expert: Nooresh Merani, an independent technical analyst told ETNow
Bharti Airtel: Sell| Target Rs 780| Stop Loss Rs 728
Delta Corp: Buy| Target Rs 230| Stop Loss Rs 205
LT Foods: Buy| Target Rs 120| Stop Loss Rs 94
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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