The market has reached near the crucial resistance of 23,000 on the Nifty 50, and it needs to give a strong close above the same for further upward journey from hereon.
Indian market likely to consolidate on Tuesday tracking muted global cues. India VIX indicates positive sentiment. Chandan Taparia from Motilal Oswal Financial Services Limited predicts a trading range of 22000 to 23000 for Nifty. Stocks recommended for short-term trading include IRCTC, MCX, Zydus Life, Coal India, NALCO, IEX, Axis Bank, and Aurobindo Pharma.
Indian market is expected to rise Friday on positive global cues. Nifty futures are up 0.84% at 22473. Options data suggests a broader range of 21800-22800.
On the weekly options front, the maximum Call OI is placed at 22500 and then towards 22300 strikes while the maximum Put OI is placed at 22000 and then towards 22200 strikes.