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2805: Hot Stocks | 'Can buy Automotive Axles, KEI Industries, Cholamandalam Investment for short term'
Publisher |
moneycontrol
Media Type |
audio
Categories Via RSS |
Business
Publication Date |
Aug 19, 2020
Episode Duration |
00:04:22
After consolidating in the range of 11,100-11,350 in the last few sessions, Nifty continued its positive momentum on Tuesday as bulls took the charge, getting support from private banks, auto and cement stocks. On the derivative front, call writers at 11,300 strikes triggered short-covering while put writers added hefty open interest at the same strike with nearly 33 lakh shares. On the higher side now 11,400 strike holds a maximum open interest in calls which should act as an immediate hurdle for Nifty. On the technical front, Bank Nifty is facing a strong hurdle in the zone of 22,300 to 22,500, above which follow-up buying can be seen in the index which will support the next up-move in Nifty also towards 11,500 levels in the coming sessions.

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