Indian market is likely to consolidate on Monday, tracking muted global cues.The Nifty future closed positively with gains of 0.17% at 25,552 levels on Friday.
India VIX fell 0.5% to close at 12.32.On the options front, the maximum Call OI is placed at 25,500 and then towards 26,000 strikes, while the maximum Put OI is placed at 25,400 and then towards 25,200 strikes.Call writing is seen at 25,400 and then towards 26,000 strikes, while Put writing is seen at 25,300 and then towards 25200 strikes.Options data suggests a broader trading range in between 25,000 to 26,000 zones while an immediate range between 25,300 to 25,700 levels, Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.Live EventsOn the daily chart, Nifty formed a Hammer candlestick with a pronounced lower shadow on Friday, reflecting renewed buying interest from lower levels and signaling that bulls are unwilling to relinquish control, he added.Now it has to cross and hold above 25,500 zones, for an up move towards 25,650 and then 25,800 else weakness can be seen towards 25,300 then 25,222 zones, recommended Taparia.We have collated stocks from various experts for traders who have a short-term trading horizon:Expert: Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited told ETBureauIOC: Buy| Target Rs 159| Stop Loss Rs 147IGL: Buy| Target Rs 248| Stop Loss Rs 220HAL: Buy| Target Rs 5200| Stop Loss Rs 4885F&O Strategy Muthoot Finance (July 31 Expiry): Buy| Target Rs 2790| Stop Loss Rs 2608UltraTech Cement (July 31 Expiry): Buy| Target Rs 12,750| Stop Loss Rs 12,210Expert: Kunal Bothra, Market Expert told ETNowGlenmark Pharma: Buy| Target Rs 1880| Stop Loss Rs 1800Biocon: Buy| Target Rs 390| Stop Loss Rs 374Godrej Properties: Buy| Target Rs 2350| Stop Loss Rs 2275Expert: Sharan Lillaney, Independent SEBI Research AnalystInfosys: Buy| Target Rs 1640| Stop Loss Rs 1540Dr Reddys Laboratories: Buy| Target Rs 1350| Stop Loss Rs 1267Bank of Maharashtra: Buy| Target Rs 59.50| Stop Loss Rs 55.50(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own.
These do not represent the views of the Economic Times)