Stocks to buy or sell today: Muthoot Finance, Godrej Properties top ideas for 6 November

The Indian market traded higher on Monday tracking positive global cues.

The S&P BSE Sensex rose nearly 300 points while the Nifty50 closed above 19200 levels.

Sectorally, buying was seen in realty, consumer durables, oil & gas, and public sector stocks.

India VIX was down by 1.78% from 11.07 to 10.88 levels on Friday. Volatility has been cooling off from the last two sessions and aided in support-based buying in the indices.

On the weekly options front, the maximum Call OI is placed at 19300 and then towards 19500 strikes while the maximum Put OI is placed at 19200 and then towards 19000 strikes.

Call writing is seen at 19300 and then towards 19400 strikes while Put writing is seen at 19200 and then towards 19150 strikes.

“Options data suggests a broader trading range in between 18500 to 19600 zones while an immediate trading range in between 19000 to 19400 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“Nifty formed a Bullish candle and an Inside Bar on the weekly frame on Friday but has been forming lower highs for the last two weeks,” he said.

“Now the index has to hold above 19200 zones, for an up move towards 19350 then 19442 zones whereas supports are placed at 19150 then 19000 zones,” recommended Taparia.

We have collated a list of stocks from various experts for traders who have a short-term trading horizon:

Expert: Parag Shah, Technical Analyst – Research, Nuvama Professional Client Group Research told ETBureau
Muthoot Finance: Buy| Target Rs 1415| Stop Loss Rs 1285

Godrej Properties: Buy| Target Rs 1920| Stop Loss Rs 1730

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(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

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