Amidst the market fluctuations, Nifty displayed resilience, closing at 19717.45 with a gain of 52 points from the day’s low of 19554. Jitendra Oberoi, a seasoned expert, observed a notable bullish trend, anticipating a potential uptrend towards 19840 levels, with strong support at 19550. As tomorrow marks the final monthly expiry, traders are advised to exercise caution, setting a strict stop loss of 19550 for long positions and 19800 for short positions.
Key Market Insights:
- OI Calls and Puts: Notably, the highest Open Interest (OI) for calls and puts is at 19700, with 1.11 Cr and 1.15 Cr, respectively, making the Nifty 19700 Straddle an intriguing play.
Top 3 Stock Picks for September 28th:
- Dixon (CMP: 5285) – Buy: Dixon has exhibited strong recovery over the past three days, culminating in a decisive breakout above its swing high at 5225. Jitendra Oberoi anticipates a potential rise to 5500 levels in the near future, with an immediate target of 5370 and a stop loss set at 5100.
- RBL Bank (CMP: 245.4) – Buy: After consolidating for ten days, RBL Bank concluded with a robust closing. The expert suggests an immediate target of 265+ with a stop loss at 237.
- Escorts (CMP: 3320) – Buy: Escorts has recently broken out of a Darvas box pattern and achieved an all-time high closing. Jitendra Oberoi predicts a potential target of 3500 levels within a couple of weeks, setting the stop loss at 3200.
Disclaimer: It’s important to note that Jitendra Oberoi is not a SEBI registered analyst. Traders are strongly advised to consult their financial advisors before taking any positions in the aforementioned stocks.