Indian market is expected to trade higher on Tuesday tracking positive global cues.The Nifty future closed positive with gains of 0.84% at 22745 levels on Monday. India VIX was up by 12.09% from 10.92 to 12.24 levels.On the weekly options front, the maximum Call OI is placed at 23000 and then towards 22850 strikes while the maximum Put OI is placed at 22500 and then towards 22400 strikes.Call writing is seen at 22850 and then towards 23000 strikes while meaningful Put writing is seen at 22500 and then towards 22600 strikes.“Options data suggests a broader trading range in between 22200 to 23000 zones while an immediate range between 22400 to 22800 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Volatility has been on the rise from the last four sessions and creating momentum at record high zones,” he said.In the cash market, FIIs bought to the tune of 169.09 cr while DIIs bought to the tune of 692.05 cr on Monday.“The Nifty PCR currently stands at 1.25 which suggests that the momentum is clearly on the side of the bulls,” Sudeep Shah, Deputy Vice President, Head of Technical and Derivative Research, SBI Securities, said.“With strong put writing at 22600-22500 strikes and call writing witnessed across 22700-22800 strikes, the range for the coming few sessions could be 22500 on the downside & 22800 on the upside,” he said.“Any sustainable move below the level of 22500 will lead to profit booking in the index upto the 21400-21350 level,” highlighted Shah.We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:Expert: Dharmesh Shah, Head – Technical, ICICI Securities told ETBureauRIL: Buy| Target Rs 3060| Stop Loss Rs 2875State Bank of India: Buy| Target Rs 850| Stop Loss Rs 789Jindal Steel & Power: Buy| Target Rs 998| Stop Loss Rs 904NTPC: Buy| Target Rs 408| Stop Loss Rs 342Expert: Kunal Bothra, Market Expert told ETNowLaurus Labs: Buy| Target Rs 466| Stop Loss Rs 430PFC: Buy| Target Rs 440| Stop Loss Rs 404V-Guard: Buy| Target Rs 370| Stop Loss Rs 333(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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