The Indian stock market is expected to stay stable on Friday due to weak signals from around the world. On Thursday, the Nifty futures index dropped by 0.97% to reach 24,021 points.
Looking at options trading, most investors believe the Nifty will struggle to rise above the 25,000 mark. They are focusing on two sections: the highest number of call options (which bet on prices going up) is at 25,000 and 26,000. Meanwhile, the most put options (which bet on prices going down) are found at 23,000 and 24,000.
There’s talk of call options being sold at 24,000 and 24,200, while put options are sold at 24,000 and 23,500. This information suggests the Nifty will likely trade between 23,400 and 24,400 points, with a closer range of 23,700 to 24,200 points.
Chandan Taparia, an expert from MOFSL, says the Nifty created a small bullish candle on Thursday, indicating a slight rise, but it went down for four days in a row. If it stays under 24,000, we may see it drop to 23,850 or 23,500. If it goes up, it could face challenges at 24,150 and 24,350.
Experts have suggested some stocks to watch for short-term trading:
Amol Athawale (Kotak Securities)
– Wipro: Buy | Target Rs 323 | Stop Loss Rs 307
– SAIL: Buy | Target Rs 123 | Stop Loss Rs 115
– Coal India: Buy | Target Rs 405 | Stop Loss Rs 386
– Apollo Hospitals: Buy | Target Rs 7,540 | Stop Loss Rs 7,210
Kunal Bothra (Market Expert)
– LIC: Buy | Target Rs 925 | Stop Loss Rs 880
– Abbott India: Buy | Target Rs 30,000 | Stop Loss Rs 28,500
Nooresh Merani (Technical Analyst)
– Infosys: Buy | Target Rs 2,050 | Stop Loss Rs 1,920
– Lupin: Buy | Target Rs 2,250 | Stop Loss Rs 2,140
– Muthoot Finance: Buy | Target Rs 2,250 | Stop Loss Rs 2,050
Disclaimer: The views and suggestions provided by the experts are their personal beliefs and do not represent the views of Niftystat)
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