Foreign institutional investors (FIIs) sold a total of Rs 2,107.17 crore, while domestic institutional investors (DIIs) contributed Rs 1,239.96 crore on Tuesday.
The long-short ratio of IMF index futures is 48.05 as they sold 36,291 index futures on a net basis, the data showed.
The 24,200 strike price has significant open interest in call options, followed by the 24,300 strike price. As for put options, the 24,100 strike price has substantial open interest, followed by the 24,000 strike price.
“On the derivatives front, August futures fell 0.80 per cent on Tuesday, with cumulative open interest (OI) across current, near and far series increasing by nearly 4 per cent. This indicates an accumulation of short positions,” said Sudeep Shah, Assistant Vice President and Head – Technical and Derivatives Research, SBI Securities. “The 50-day EMA zone of 24,050-24,000 will act as an immediate support for the index. Any sustainable move below the psychological level of 24,000 will lead to further selling pressure on the index up to the level of 23,850,” he said. “On the upside, the resistance zone has shifted down in the zone of 24,270-24,300 level as a lower trend line of the bearish flag pattern is placed in that region,” he said. We have compiled a list of F&O and spot market stocks, hand-picked by several experts, for traders with a short-term trading horizon.
Expert: Jatin Gedia, technical research analyst at BNP Paribas’ Sharekhan, told ETBureau
Titan Company:Buy | Target: Rs 3,500 | Stop Loss: Rs 3,330
PoliticsBazaar:Buy | Target: Rs 1,552 | Stop Loss: Rs 1,450
Tata Consumer:Buy | Target: Rs 1,225 | Stop Loss: Rs 1,160
F&O Strategy –
Oberoi Real Estate (August Futures): Sell | Target: Rs 1,694 | Stop Loss: Rs 1,775
Tata Communication (August Future): Sell | Target: Rs 1,783 | Stop Loss: Rs 1,890
Expert: Nooresh Merani, an independent technical analyst, told ETNow
Reduce:Buy | Target: Rs 3,050 | Stop Loss: Rs 2,900
Cipla:Buy | Target Rs 1,750 | Stop Loss: Rs 1,550
GPPL License:Buy | Target: Rs 280 | Stop Loss: Rs 235
(Disclaimer:The recommendations, suggestions, views and opinions of the experts are their own and do not represent the views of The Economic Times.
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