In the ever-evolving world of stock markets, having a seasoned expert like Jitendra Oberoi provides invaluable insights. As of the latest update, Nifty is displaying a rather intriguing pattern, with its current market price (CMP) at 19664.7, indicating a flat closing. The Nifty index appears to be firmly range-bound, making it challenging to predict its future direction. Notably, option sellers are currently in control, strategically playing within the 19600-19750 range. Market enthusiasts anticipate that a decisive shift might occur on Wednesday or Thursday, coinciding with the Final Expiry event.
Key Observations:
- Highest Open Interest (OI) on the Calls Side: At 19700, there’s a substantial OI of 1.07 Crore contracts, indicating strong resistance at this level.
- Highest Open Interest (OI) on the Put Side: The 19600 level boasts an OI of 94 Lakhs contracts, establishing it as a robust support zone.
- Nifty 19700 Straddle in Play: The Nifty 19700 Straddle strategy seems to be in motion, suggesting anticipation of significant price movement.
Now, let’s delve into Jitendra Oberoi’s top three stock picks to watch out for on September 27th:
1. Colpal (CMP 2068):
- Buy Recommendation: Colpal has recently breached its previous high of 2062 and closed above it with a strong bullish candle.
- Bullish Momentum: Following a solid consolidation phase spanning three months, the stock exhibits signs of a bullish trend.
- Price Target: Expectations are high that this bullish momentum will persist, potentially pushing the stock towards levels of 2150-2200 in the near future.
- Risk Management: To safeguard your investment, maintain a stop loss below 2000.
2. Bajaj Auto (CMP 5069):
- Buy Recommendation: Bajaj Auto is currently under the influence of bullish sentiment, having retested its breakout zone at 5000 and rebounded.
- Continued Bullish Momentum: Experts anticipate that this upward momentum will endure, possibly propelling Bajaj Auto towards the 5200 mark in the near term.
- Risk Management: To mitigate risk, consider placing a stop loss below 5000.
3. BSE (CMP 1277):
- Buy Recommendation: After a substantial rally from 800 to 1438, followed by a consolidation phase, BSE appears poised for another upward surge.
- Price Target: The final target for BSE is projected to be 1450.
- Risk Management: As a precautionary measure, set a stop loss at 1175.
Disclaimer: It’s important to note that Jitendra Oberoi is not a SEBI registered analyst, and the information provided should not be considered buy/sell recommendations. Always consult with your financial advisor before making any investment decisions concerning the mentioned stocks or indices.
