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The Indian stock market is expected to consolidate today, influenced by weak global cues. The Nifty futures ended down 0.34% at 25,032 on Wednesday.
In the options market, the highest call open interest (OI) is at the 25,500 and 25,200 levels, while the maximum put OI is at 25,000 and 24,000 levels. Call writing is happening at 25,500 and 25,000, while put writing is seen at 24,800 and 24,300 levels.
“Options data indicates a trading range between 24,500 and 25,500, with an immediate range of 24,700 to 25,200,” said Chandan Taparia, a derivatives analyst at Motilal Oswal Financial Services. He noted that the Nifty formed a bearish candle with around 100-point losses on Wednesday, showing lower lows in the last two sessions. The Nifty needs to cross and hold above 25,000 for a potential move to 25,150 and 25,250, while support levels are at 24,850 and 24,750.
Here are some stock recommendations for traders with a short-term focus, gathered from various experts:
From Jayesh Bhanushali, IIFL:
- CAMS: Buy | Target: ₹5,010 | Stop Loss: ₹4,690
- Tube Investment of India: Buy | Target: ₹4,670 | Stop Loss: ₹4,380
- Siemens: Buy | Target: ₹8,230 | Stop Loss: ₹7,780
From Kunal Bothra, Market Expert:
- HPCL: Buy | Target: ₹446 | Stop Loss: ₹426
- Grasim: Buy | Target: ₹2,845 | Stop Loss: ₹2,720
- Deepak Nitrite: Buy | Target: ₹3,120 | Stop Loss: ₹2,920
From Nooresh Merani, Independent Analyst:
- LIC Housing Finance: Buy | Target: ₹700 | Stop Loss: ₹610
- Grasim: Buy | Target: ₹3,200 | Stop Loss: ₹2,730
- Bombay Dyeing: Buy | Target: ₹270 | Stop Loss: ₹220
These stocks may offer potential opportunities for traders today!
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.
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