Build-up of long OI in general indicates that traders are expecting the price of the underlying stock or index to gain in the near-term.
The technical analyst sees 17,315 as a critical support level for the near term.
The derivative analyst from HDFC Securities recommends to Buy Dabur 530 Put option and simultaneously Sell 525 Put of the March series.
Balrampur Chini Mills, Dwarikesh Sugar Industries, Ugar Sugar Works, Rana Sugars, Dhampur Sugar Mills and Shree Renuka Sugar overcome their significant peaks, with volumes exceeding daily 3-month high
Analyst recommends investors should wait for some constructive growth direction before venturing into the Group stocks.
Altogether 10 out of 20 stocks in Nifty PSE index are flashing breakout structures that reflect medium-term bullishness.
The weekly F&O data also highlights significant build-up in open interest at the 17,700 Put, suggesting likely support at this level.
Shares of Power Grid Corporation of India, GAIL (India) , Linde India, Symphony and Tech Mahindra may rise up to 14%, as per their respective technical charts
The MCX Gold futures may test near term-resistance around Rs 56,170 - Rs 56,250; whereas, Silver futures may test Rs 64,930 - Rs 65,300.
The technical analyst expects an upside target of 17,800 - 17,900 on the Nifty, with stop loss of 17,400.
Auto index trades with a sluggish bias, may lose grip if falls below its 200-DMA
The derivative analyst from HDFC Securities recommends to Buy PowerGrid 222.50 Call and simultaneously Sell 230 Call for the March expiry.
if the Bank index succeeds to close over 41,000 mark, which is right above its 21-DMA, the short-term upside may poised to rally towards 42,000 level,
The technical analyst also expects a pullback in the Nifty Pharma index.
Hindustan Copper and Vedanta may fall up to 19 per cent due to their weak chart structures.
The Bollinger Bands suggest a likely trading range of Rs 6,070 - Rs 6,650 for the MCX Crude Oil futures; whereas, Natural Gas futures need to sustain above Rs 231 for the pullback to continue.
According to the technical analyst, charts suggest bullish trend for Nifty FMCG index, while bearish for Nifty Metal index
Shares of Bharti Airtel may plunged up to 7 per cent on breaking 200-DMA, while Paytm shares need to holds above its 200-DMA to upheld the positive stance.
According to the technical analyst from Anand Rathi, shares of Hindustan Aeronautics can bounce back to Rs 2,700, while DLF can jump to Rs 370.
According to the technical analyst, Nifty Private Bank exhibited a bullish pattern, supported by technical indicators, indicating a positive outlook for traders in the short term