On the weekly options front, the maximum Call OI is placed at 21800 strikes and then towards 22000 strikes while the maximum Put OI is placed at 21500 strikes and then towards 21300 strikes.
On the weekly options front, the maximum Call OI is placed at 21,800 and then towards 22,000 strikes while the maximum Put OI is placed at 21,500 and then towards 21,600 strikes.
Positive setup was seen in stocks like Aarti Ind, Hindalco, Bajaj Auto, UltraTech Cements, Grasim, Bank of Baroda, Voltas, Tata Consumer, Bharti Airtel, Eicher Motor, Tata Steel, Apollo Hospital, SBI, HDFC Bank and Trent.
The overall market sentiment remains bullish on Thursday, and considering the current levels, traders are advised to initiate fresh long positions, Kunal Shah, LKP Securities said. A stop-loss can be set at 20,800, targeting potential upside levels of 21,400/21,500 in the near term, he adds.