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On Tuesday, Nifty weekly contracts had the highest open interest at 23000 for Calls and 22000 for Puts while monthly contracts had the highest open interest at 23000 for Calls and 22000 for Puts. The highest new OI addition was seen at 22400 for Calls and 22100 for Puts in weekly and at 22400 for Calls and 22100 for Puts in monthly contracts.
We spoke to analysts on how one should trade stocks that were in focus in the previous trading sessions based on derivative and technical data:
Indigo has been oscillating between 3,000 and 3,200 for over two months. On Monday, it formed a long bullish engulfing candle.Nestle after making a high of 2770 corrected by about 13 percent. But, the stock has been witnessing action on the upside for the past few days.
Mahindra & Mahindra Financial Services’ daily trend is sideways. The RSI for monthly, weekly and daily are showing sideways momentum. Based on option chain analysis, the range is between 260 and 300. Let’s plan a trade around this.
The level of 22,000 is crucial for Nifty to hold else bearishness may return to the market. Two stocks have formed a good setup for swing trading on the technical charts