Nifty's volatility index, which indicates the degree of volatility traders expect over the next 30 days in the Nifty 50, climbed to its highest since June 2020.
Here are three intraday picks from the brokerage:
Buy Marico (Previous close: Rs 411) For today’s trade, a long position can be initiated in the range of Rs 411-407 for a target of Rs 427 with a strict stop loss at Rs 399.
Buy Tata Chemicals (Previous close: Rs 792) A long position can be initiated in the range of Rs 780-770 for a target of Rs 815 with a strict stop loss at Rs 747.
Sell ICICI Prudential Life (Previous close: Rs 522)A short position can be initiated in the range of Rs 523-528 for a target of Rs 505 with a strict stop loss at Rs 538.