The Indian stock market is expected to stay steady on Thursday because of mixed signals from around the world. On Wednesday, Nifty futures saw a small rise of 0.17%, reaching 24,472 points. The India VIX, which measures market volatility, increased slightly to 19.06.
Options Data Overview
In options trading, the biggest interest in Call options is at the 24,400 mark and later at 25,000. For Put options, the highest interest is at 24,300 and then at 24,400. Call options are being sold at 24,400 and 24,850, while Put options are being sold at 24,300 and 24,350.
Chandan Taparia, an analyst at Motilal Oswal Financial Services, mentioned that the options data indicates a trading range between 23,800 and 24,800, with a more immediate range between 24,100 and 24,600. On Wednesday, Nifty formed a positive candle on the daily chart, closing above 24,400. However, it has been showing lower highs for the last three days. While buying support is still there, the index needs more power to rise further.
To gain strength, Nifty needs to stay above 24,400 and aim for 24,650 and then 24,750. If it drops, support levels are around 24,200 and 24,050.
Stocks to Watch for Short-Term Traders
– Expert: Jaynit Vora, Research Analyst at IIFL
– Power Grid: Buy | Target: ₹326 | Stop Loss: ₹301
– Marico: Buy | Target: ₹778 | Stop Loss: ₹706
– Kaynes Technology India: Buy | Target: ₹6,180 | Stop Loss: ₹5,580
– Expert: Kunal Bothra, Market Expert
– AU Small Finance Bank: Buy | Target: ₹705 | Stop Loss: ₹670
– Muthoot Finance: Buy | Target: ₹2,375 | Stop Loss: ₹2,270
– Samvardhana Motherson International: Buy | Target: ₹150 | Stop Loss: ₹137
(Disclaimer: The recommendations and opinions from experts are their own and don’t reflect the views of Thellv.news)
Indian Stock Market Update: Expert Insights and Top Stock Picks
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