On the industry front, buying is seen in utilities, electricity, real estate and energy stocks.
Nifty50 regained 17600 levels on Monday, which is a positive sign, but it may face some resistance near 17720-17800 levels, experts suggest.
“Technically, Nifty50 key resistance at 17720, followed by 17770 and at 17550, followed by 17480 could act as strong support,” said Mohit Nigam, Head of PMS, Hem Securities, said.
The key resistance and support levels for Bank Nifty are 39980 and 39500 respectively, he said.
The highest new OI additions were seen at 18000 for Calls and 17000 for Weekly Places and 18000 for Calls and 16000 for Monthly Contract Sets.
“It may take some time to break the 18000 barrier again but a similar near-term outlook will persist as long as the 17470-17400 area holds,” said Anand James, chief market strategist at US Capital Markets. .
We have collated stocks from different experts for traders with short-term bias:
Expert: Ajit Mishra, Vice President – Engineering, Brokerage told ETBureau
Apollo Tires: Buy | Target 280 Rs | Stop Loss Rs 240 240
We are seeing notable traction in the auto accessories market and related stocks. Apollo Tire is trading in sync with this migration.
Bharti Airtel: Buy | Target Rs 775 | Stop Loss Rs 720 720
The telecom group looks to have set up a consolidation breakout after spending almost two weeks in a tight range.
ICICI Bank: Buy | Target Rs 910 | Stop Loss Rs 8 865
is a leading company in the banking sector. The recent pause around record highs is a buying opportunity.
JSW Steel: Buy | Target Rs 715 | Stop Loss Rs . 660
Metals look bullish to prolong the prevailing rally.
looks the strongest among the pack.
Expert: Kunal Bothra, Market Specialist to ETNow
DCB Bank: Buy | Target Rs 106 | Stop Loss Rs . 96
NALCO: Buy | Target 70 Rs | Stop Loss Rs 58 58
IDFC Ltd: Buy | Target Rs 73 | Stop Loss Rs . 67
Expert: Nooresh Merani, an independent technical analyst told ETNow
NTPC: Buy | Target Rs 180 | Stop Loss Rs 15 158
BHEL: Buy | Target 70 Rs | Stop Loss Rs 58 58
(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of the Economic Times.