Nifty: CMP 19993.2/- Nifty has shown high volatility today after making a high of 20110, it was a profit-booking day. Nifty can show some sideways action in the upcoming sessions before taking a clear-cut direction. The highest Call side OI is at 20000 so 20000 will act as a decisive zone. 19900 has the maximum OI of 84 lakh which will act as a strong support in weekly contracts . Jitendra Oberoi expects Nifty to trade between the 19875 to 202100 zone for a few days.
BankNifty: 45511. Banknifty should show some sideways action before any decisive move. The highest OI stands at 45800 on the calls side of 41 lakh which will act as a strong resistance. The highest OI on the put side is at 45500 of 31.77 lakh which should give some relief to the bulls. It’s still a buy-on-dips market.
3 Stock Ideas for 13th September 2023
- TCS cmp 3581, Stock has managed to close above its major resistance zone of 3560-3575. Daily RSI is above 70 which shows the momentum in the stock. We can expect 3660-3680 levels in the coming days. Stop Loss below 3600
- Infosys CMP 1501: Infy has managed to close above its resistance area of 1500, and RSI is at 68 which shows the momentum in the stock. One can expect 1530-1540 levels to be tested in the coming sessions. Stop loss below 1450.
- ITC: CMP 451. It’s a reversal candidate from the demand zone of 435. We expect ITC to test 480 levels in the upcoming sessions.
Disclaimer: These insights are analytical in nature and not provided by a SEBI-registered analyst. They do not constitute buy/sell recommendations. Prior to making any stock-related decisions, kindly consult your financial advisor. Refersms bears no liability for potential losses.
