The Indian market is likely to consolidate on Tuesday, tracking blended global cues.The Nifty future closed positively with limited gains at 25,541 levels on Monday.
India VIX rose by about 2% to close at 12.56.
On the choices front, the maximum Call OI is positioned at 25,500 and then towards 26,000 strikes while the optimum Put OI is positioned at 25,400 and after that towards 25,300 strikes.Call writing is seen at 25,500 and then towards 25,600 strikes, while Put writing is seen at 25,400 and then towards 25,300 strikes.Options information recommends a wider trading variety in between 25,000 to 26,000 zones while an instant range between 25,300 to 25,700 levels, Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.Live EventsOn the day-to-day chart, it formed a small-bodied candle on Monday, indicating indecision, but managed to negate the pattern of lower highs seen over the past 2 sessions, he added.Going forward, a continual move above 25,500 could see an up move towards 25,650 and 25,800 levels, while failure to hold might lead to weak point towards 25,350 and after that 25,222 zones, recommended Taparia.We have actually collated stocks from numerous experts for traders who have a short-term trading horizon: Expert: Dharmesh Shah, Head Technical, ICICI Securities told ETBureauRIL: Buy|Target Rs 1615|Stop Loss Rs 1494IOC: Buy|Target Rs 164|Stop Loss Rs 147CESC: Buy|Target Rs 191|Stop Loss Rs 174Expert: Kunal Bothra, Market Expert informed ETNowSun Pharma: Buy|Target Rs 1710|Stop Loss Rs 1650Apollo Tyres: Buy|Target Rs 480|Stop Loss Rs 450CESC: Buy|Target Rs 188|Stop Loss Rs 176Expert: Sharan Lillaney, Independent SEBI Research AnalystBritannia Industries: Buy|Target Rs 6024|Stop Loss Rs 5744ICICI Prudential: Buy|Target Rs 696|Stop Loss Rs 636Voltas: Buy|Target Rs 1405|Stop Loss Rs 1325(Disclaimer: Recommendations, suggestions, views, and opinions offered by experts are their own.
These do not represent the views of the Economic Times)