3 top stock recommendations from Rajesh Palviya for next week

economictimes.indiatimes.com:

«Looking at the derivative data, major call writers are active around the 24,400 and 24,500 levels for Nifty. These levels could act as significant supply zones for any minor pullbacks. On the downside, 24,200 and 24,000 have substantial put-based concentration, potentially providing support around the 24,000 level for Nifty in the coming days,» says Rajesh Palviya, Axis Securities.

Give us a technical take on the current activity in call and put options for the indices, Nifty and Nifty Bank. What levels should we expect going into next week? Additionally, do you think the correction we've seen over the week is just temporary, or could it be more long-lasting?
Rajesh Palviya: This week’s volatility has seen Nifty slip below its 20-day moving average, and it has traded below this average throughout the week. Although Nifty has managed to defend the 50-day moving average, which is around the 24,000 level, this level is still protected. However, Bank Nifty has broken below its 50-day moving average on the daily chart and has not been able to recover above it throughout the week. Both indices have breached their near-term support areas, suggesting that the trend may remain slightly bearish for the next few days.

Looking at the derivative data, major call writers are active around the 24,400 and 24,500 levels for Nifty. These levels could act as significant supply zones for any minor pullbacks. On the downside, 24,200 and 24,000 have substantial put-based concentration, potentially providing support around the 24,000