Indian market is likely to consolidate on Thursday tracking mixed global cues.

The Nifty future closed positive with gains of 0.22% at 22420 levels on Wednesday. India VIX was up by 0.78% from 10.20 to 10.28 levels.

On the options front, the maximum Call OI is placed at 22500 and then towards 22700 strikes while the maximum Put OI is placed at 22000 and then towards 22300 strikes.

Minor Call writing is seen at 22500 and then towards 22550 strikes while Put writing is seen at 22400 and then towards 22300 strikes.

“Options data suggests a trading range in between 22200 to 22600 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

“Nifty has formed a small-bodied candle on the daily frame on Wednesday and has been forming higher highs – higher lows from the last three sessions,” he said.“Now the index has to hold above 22350 for an up move towards 22550 then 22750 zones whereas supports are placed at 22222 then 22100 zones,” recommended Taparia.

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: Rajesh Palviya, VP-Technical & Derivative Research, Axis Securities told ETBureau

NMDC: Buy| Target Rs 295| Stop Loss Rs 233

Container Corp: Buy| Target Rs 1085| Stop Loss Rs 945

RVNL: Buy| Target Rs 335| Stop Loss Rs 270

Expert: Nooresh Merani, an independent technical analyst told ETNow

ICICI Bank: Buy| Target Rs 1200| Stop Loss Rs 1050

NMDC: Buy| Target Rs 265| Stop Loss Rs 238

Ambuja Cements: Buy| Target Rs 680| Stop Loss Rs 630

Expert: Kunal Bothra, Market Expert told ETNow

IEX: Buy| Target Rs 175| Stop Loss Rs 145

Dixon Technologies: Buy| Target Rs 8500| Stop Loss Rs 7800

Bector Foods: Buy| Target Rs 1200| Stop Loss Rs 1120

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

Source link