Stocks to buy today: Bajaj Auto, Aurobindo Pharma among top 8 trading ideas for 29 August 2024
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Indian market is likely to consolidate on Thursday tracking mixed global cues. The Nifty future closed positive with gains of 0.15% at 25055 levels on Wednesday. India VIX was up by 2.55% from 13.70 to 13.98 levels. On the options front, the maximum Call OI is placed at 25,100 and then towards 25,500 strikes while the maximum Put OI is placed at 25,000 and then towards 24,800 strikes. Call writing is seen at 25,100 and then towards 25,400 strikes while Put writing is seen at 25,100 and then towards 24,900 strikes. “Options data suggests a broader trading range in between 24,700 to 25,500 zones while an immediate range between 24,900 to 25,300 levels,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.“The Nifty index has been shifting its base higher gradually and making higher highs from the last three sessions,” he said.“Now the index has to continue to hold above 25,000 zones for an up move towards ...