Stocks to buy or sell today: SBI, NMDC among top 6 trading ideas for 3 October
The S&P BSE Sensex rose more than 300 points while the Nifty50 closed above 19600 levels on Friday.
India VIX was down by 10.28% from 12.82 to 11.50 levels in the previous trading session. Volatility cooled off and gave comfort to the bulls in the market at key support zones.
Since it is the beginning of the new series, options data is scattered at various far strikes in the monthly series.
On the weekly options front, the maximum Call OI is placed at 19800 and then towards 19700 strikes.
The maximum Put OI is placed at 19600 and then towards 19500 strikes. Minor Call writing is seen at 19800 and then towards 19750 strikes while Put writing is seen at 19600 and then towards 19550 strikes.
“Options data suggests a broader trading range in between 19200 to 20000 zones while an immediate trading range in between 19450 to 19800 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a small-bodied Bullish candle on Friday and an Inside Bar on a daily scale and a Doji sort of candle on the weekly frame,” he said.
“Now the Nifty has to hold above 19650 zones, for an up move towards 19750 then 19850 zones whereas support is placed at 19550 then 19442 zones,” recommended Taparia.
We have collated a list of stocks from various experts for traders who have a short-term trading horizon:
Expert: Kunal Bothra, Market Expert told ETNow
Coal India: Buy| Target Rs 310| Stop Loss Rs 285
Titan Company: Sell| Target Rs 3070| Stop Loss Rs 3190
NMDC: Buy| Target Rs 170| Stop Loss Rs 140
Expert: Nooresh Merani, an independent technical analyst told ETNow
GAIL India: Buy| Target Rs 135| Stop Loss Rs 118
SBI: Buy| Target Rs 640| Stop Loss Rs 580
Oil India: Buy| Target Rs
