Indian markets are on a positive note as the Sensex increased over 600 points and the Nifty50 closed at 18,500 levels boosting the bulls and aiding in the fresh leg of the index. India VIX reduced by 4.95%, giving strength to the bulls, making Options data scattered in various far strikes in the monthly series. Broader trading ranges fall between 18200 to 18800 zones, while immediate trading ranges fall between 18,300 to 18,650 zones. Various experts have suggested that traders with a short-term horizon should purchase stocks like Reliance Industries, IDFC First Bank, Canara Bank, Marico, Bharti Airtel, SBI, HCL Technologies, L&T, and Gujarat Gas.
Tech View: Nifty’s weekly bullish engulfing candle signals strength; key resistance at 23,800. How to trade on Monday
Nifty formed a red candle on the daily chart on Friday, indicating weakness, but a green candle on the weekly scale confirmed last week’s bullish