F&O Strategy: Eternal to Torrent Pharma - Rupak de suggests that strategy for these stocks buy or sell | Einsmark news

The stock market today: The most important domestic indices, Nifty 50 and Sensex, were on track on Monday, supported by a weaker US dollar and an increase in bank shares in the country. From 13:10 IST, the Nifty 50 rose 1.40% to reach 24.186.25, while the Sensex climbed 1.36% to reach 79,622.30. Both indices have reached their highest values ​​since January 6. After strong earnings reports, ICICI Bank and HDFC Bank, the top two shares on the Nifty 50, jumped 0.9% and 1.3% respectively and achieved record heights. Suresh Ganapathy, managing director and head of financial services research at Macquarie Capital, noted that finances are considered a clear consensus overweight, especially as they have underperformed in the last market rally cycle, and their current valuations are very attractive, according to a Reuters report. In addition, foreign investment is increasing, with the anticipation that finances will be less affected by US rates, he added. At the front of the derivatives, technical analysts observed a mixture of long build -up and short covering in both key indices during the week. The long short ratio rose from 25% to 30% week-to-week. With a strong purchase seen in Thursday’s session, it seems likely that a follow -up step to 24,000 is likely, while it drops about 23,600–23.700, giving opportunities to add fresh long -lasting. FIIs were net buyers in the cash market segment and buy shares worth £ 4.667 crore. In the Index Futures segment, it was net buyers worth £ 439 crores with an increase in OI, indicating a long formation. Technical views by Rupak de, senior technical analyst, LKP Securities on F&O market: Nifty 50 The index saw an impressive rally, with the Nifty rising above his previous swing (on a closing base). This sharp upward move has driven the index above the 100-day ema on the daily chart, indicating a reinforcing mid-term bullish trend. Within the near term, the momentum is likely to continue, with the Nifty taking into account a possible move to 24,100. A definite interruption above this level can pave the way for a progress to 24,500. The disadvantage is seen in immediate support at 23,650, followed by 23,300. Open Interest Analysis: Significant additions to open interest were observed in both the 23,850 wells and calls. Call writing is relatively subdued on Friday, with the highest OI building on the 24,200 AD. Meanwhile, considerable writing on the 23,500 strike indicates strong support at that level. Strategy: Sentiment is likely to remain strong unless it falls below 23,500. Trade: Buy Nifty 50 April 24,000 above 130 TGT 180 SL 100. Buy forever at £ 230-232 with a TGT of £ 250 and SL of £ 219 The eternal share price gave an exposition of a falling wedge pattern, indicating a possible shift in momentum from deviation. The price has added strength to this outbreak, and the price has successfully moved above the 50-day exponential moving average (EMA), indicating the growing bullish sentiment and an improved price stability. In addition, the relative strength index (RSI) showed a bullish crossover, further strengthening the positive momentum. In the short term, the trend is likely to continue to higher levels. At the top, the stock can move to £ 250, while supporting £ 219. A break below this level can lead to weakness. Buy Indian Oil Corporation (IOC) at £ 134 with a TGT of £ 144 and SL of £ 129 IOC share price recently gave a weekly chart consolidation, indicating that a growing buying interest and a shift in the market sentiment to optimism. In addition, the price closed above the critical 100-week EMA (exponential moving average), confirming a strong trend. The momentum indicator RSI also shows a bullish crossover. In the short term, the trend is likely to continue to higher levels. At the top, the stock can move to £ 144, while supporting £ 129. Buy Torrent Pharmaceuticals at £ 3,254 with a TGT £ 3,500 and £ 3,187 SL of £ 3,187 in the last few days that the share maintained above the critical moving average on the daily chart, suggesting it is a constant momentum. In addition, the price moved above the 200dma, indicating a change in the medium -term trend in the price. The RSI is in bullish crossover and rises. In the short term, the trend is likely to continue to higher levels. At the top, the stock can move to £ 3.500, while support is placed at £ 3187. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions. First Published: 21 Apr 2025, 1:30 IST