Indian market is expected to trade lower on Wednesday tracking weak global cues.

The Nifty futures closed positive with gains of 0.55% at 21816 levels on Tuesday. India VIX was down by 1.56% from 16.06 to 15.81 levels. Volatility cooled off from its highs and gave way to the bulls at crucial support zones.

Positive setup was seen in stocks like OFSS, GMR Infra, Coal India, PNB, HDFC AMC, DLF, ICICI Bank, SBI Life, Axis Bank, Voltas, Siemens, Granules, Wipro, etc. among others.

On the options front, the maximum Call OI is placed at 22000 and then towards 22500 strikes while the maximum Put OI is placed at 21000 and then towards 21500 strikes.

Call writing is seen at 22150 strikes while some Put writing is seen at 21500 strikes.

“Options data suggests a broader trading range in between 21300 to 22200 zones while an immediate trading range in between 21500 to 21900 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty formed a Bullish candle on the daily scale on Tuesday with a long lower shadow indicating support-based buying but has been forming lower lows from the last four sessions due to the absence of follow-up,” he said.“Now the index has to hold above 21750 zones, for an upside move towards 21850 then 21950 zones whereas supports are placed at 21650 then 21550 zones,” recommended Taparia.

We have collated a list of stocks from the F&O basket along with cash market from various experts for traders who have a short-term trading horizon:

Expert: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas told ETBureau

GMR Infrastructure: Buy| Target Rs 95| Stop Loss Rs 87

SRF: Buy| Target Rs 2432| Stop Loss Rs 2290

Ajanta Pharma: Buy| Target Rs 2289| Stop Loss Rs 2100

Expert: Nooresh Merani, an independent technical analyst told ETNow

Maruti Suzuki India: Buy| Target Rs 12000| Stop Loss Rs 10400

Tata Communications: Buy| Target Rs 1900| Stop Loss Rs 1680

SBI: Buy| Target Rs 740| Stop Loss Rs 680

Expert: Kunal Bothra, Market Expert told ETNow

Bajaj Finserv: Sell| Target Rs 1530| Stop Loss Rs 1590

India Cements: Sell| Target Rs 223| Stop Loss Rs 238

Poonawala Fincorp: Buy| Target Rs 520| Stop Loss Rs 460

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

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