The most active Call was that of 38000 CE with an OI of 73,703 and Put was of NIFTY 17800 PE with an OI of 64,610. The market is at higher levels and a healthy correction is possible in the present circumstances. Stocks that have seen the most active call options were Tata Motors Ltd (NS:) 400 CE and the put option was TATAMOTORS 350 PE.
Here are few top picks for the week:
1. BUY: IndusInd Bank Ltd. (NS:) 1180 CE (42-43)
STOP LOSS: 28
This stock can be seen forming flag patterns on the weekly charts. The stock can also be seen consolidating t its resistance level on the daily chart and the breakout is expected to start the fresh rally, the PCR is 0.4 which seems favourable. Therefore, we advise taking a position above 42 with a Target of 62 and a Stop Loss of 28.
2. BUY: IndiaMART InterMESH Ltd (BO:) 8800 CE (540-543)
STOP LOSS: 415
The stock has given a trend line breakout on its daily charts and is bouncing back after a minor correction on weekly charts and taking support of important moving averages. The PCR here is 0.5 and which seems favourable, Therefore, we advise taking a position above 540 with a target of 671 and a stop loss of 415.