The Indian stock market is expected to remain stable on Wednesday, following cautious global trends. On Tuesday, Nifty futures showed a small gain of 0.15%, closing at 25,956.
Key Market Insights:
- Call and Put Option Trends:
Maximum Call open interest (OI) is at the 27,000 level, with another key level at 26,500. On the Put side, maximum OI is at 25,000, followed by 24,500 - Call Writing:
Seen at 26,000 and 27,000 levels. - Put Writing:
Noted at 25,900 and 26,000 levels. - Market Range Prediction:
Chandan Taparia from Motilal Oswal suggests the Nifty will likely trade between 25,600 and 26,600, with immediate action in the 25,800 to 26,300 range. - Nifty’s Performance:
The index has been steadily rising for the last five sessions, forming a bullish pattern on the daily charts. It needs to stay above 25,900 to target 26,100 and 26,250. If it falls, support can be found at 25,850 and 25,750.
Short-Term Stock Picks:
Expert: Jatin Gedia, Sharekhan by BNP Paribas
- APL Apollo: Buy | Target: ₹1,525 | Stop Loss: ₹1,452
- SAIL: Buy | Target: ₹143 | Stop Loss: ₹131
- Dr. Reddy’s Laboratories: Buy | Target: ₹6,778 | Stop Loss: ₹6,580
F&O Strategy: Infosys (October Futures)
- Infosys: Buy | Target: ₹1,953 | Stop Loss: ₹1,863
Expert: Kunal Bothra, Market Expert
- Hindustan Copper: Buy | Target: ₹355 | Stop Loss: ₹332
- UPL: Buy | Target: ₹625 | Stop Loss: ₹580
- KEC International: Buy | Target: ₹1,020 | Stop Loss: ₹955
Expert: Nooresh Merani, Independent Technical Analyst
- Hindalco: Buy | Target: ₹790 | Stop Loss: ₹700
- NLC India: Buy | Target: ₹320 | Stop Loss: ₹275
- DCB Bank: Buy | Target: ₹140 | Stop Loss: ₹118
These stock picks are based on technical analysis and market trends, and are recommended for short-term traders looking for gains.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
