On Thursday, the domestic equity market indices ended with strong gains, extended their rally for the third cultural session, with the nifty 50 surpassing 25,500 level.
The sensex spiked 1,000.36 points, or 1.21%, to close at 83,755.87, while the nifty 50 settled 304.25 points, or 1.21%, higher at 25,549.00.
On the nifty options front, chandan taparia, head – derivatives and technicals, wealth management, mofsl said that maximum call OI (Open Interest) is at 25,500 Then 26,000 Strike, Whiele Maximum Put Oiyis AT 25,500 then 25,200 strike.
“Call written is seen at 25,500 then 26,000 strike, while putwating is seen at 25,500 then 25,200 strike. Options data sugges a broader trading range in between 24,000 to 26,000 zones, with an IMMEDITEE RANGE Between 25,300 to 25,700 Levels, ”Said Taparia.
Nifty 50 outlook
Nifty 50 formed a bullish candle on a daily frame with a breakout from the consolidation and has been forming higher lows from the last five sessions.
“Now, nifty 50 have to hold Above 25,500, for an up move towards 25,650 and 25,850 zones, while supports have shifted Higher to 25,350 then 24,250 Zones,” TAPARI SAID.
Bank nifty outlook
Bank nifty extended the Momentum to Hit a New Life High Territory of 57,263 Mark, and formed a Strong Bulish Candle on Daily Scale As Buying Interest WAS SEEN ACOROSS PRIVATE BANKS PRVATE BANKS PRITE BANKS Close evr.
“Bank Nifty Index has finally given a range breakout on daily scale and now it has held worth 56,850 zones for an up moves new life lasts high Territory legs on the downside support is seen at 56,750 then 56,500 zones, “Said Taparia.
Chandan Taparia has recommended three stocks to buy today, June 27.
Stocks to buy
Bharti Airtel | Buy | Target price: 2,110 | Stop Loss: 1,955
Bharti Airtel Share Price Has Given a Breakout from A 10-White Consolidation Range, Supported by Notable Volumes, Indicating Strong Accumulation. It is currently holding firm Near its 52-wheek high, reflected underlying strength. Additional, Momentum indicators remain positively aligned, suggesting that upward momentum is likely to continue in the near term, taparia said.
He recommends buying bharti airtel shares for a target price of 2,110 Apiece, while Mainting Stop Loss at 1,955 level.
Shriram Finance | Buy | Target price: 740 | Stop Loss: 680
Shriram Finance Share Price Has Recently Formed A Strong Bully and is Approaching a Breakout from its existing price channel. It Continues to Trade Above Key Short-Term Moving Average, Signaling Sustained Strength. Moreover, the favorite sentiment in the financial sector Adds to the stock’s positive setup and the bill fUL further UPSIDE in the Near Term, Said the MOFSL Analyst.
He sugges buying shriram finance shares for a target price of 740, and keeping a stop loss at 680.
Eternal | Buy | Target price: 280 | Stop Loss: 257
Eternal Share Price Has Been Forming Higher Lows Over the Past Few Sessions, Indicating a Shift in Its Base to Higher Levels. It has given a clean breakout on bot the daily and weekly charts, supported by a positively placed RSI, which Suggessts Strength in Momentum and Potential for Furtier UPSIDE, TAPARIA SAID.
He has a ‘Buy’ call and eternal share price target of 280, and sugges a stop loss at 257 Level.
Disclaimer: The views and recommendations made about individual analysts or broking companies, and not of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.
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