Indian equity markets rebounded on Thursday, 29 October, recovering from a recent slide as the US Federal Reserve kept interest rates unchanged, in line with expectations, while upbeat quarterly earnings lifted investor sentiment.
The Nifty 50 rose 1.1% to close at 22,936.75, while the BSE Sensex gained 1.2% to settle at 74,151.04.
The recovery followed a seven-session losing streak during which both benchmark indices declined by around 2%, falling in six of the seven sessions amid persistent concerns over elevated crude oil prices.
Chandan Taparia, Head of Derivatives & Technicals, Wealth Management at Motilal Oswal Financial Services, has recommended Kotak Mahindra Bank, Nykaa and Eternal as buy calls.
Taparia has set a target price of ₹485 for Kotak Mahindra Bank, with a stop loss at ₹445. For Nykaa, he has recommended a buy with a target of ₹373 and a stop loss of ₹340. Eternal is also a buy, with a target price of ₹357 and a stop loss of ₹326.
On the Nifty options front, Chandan Taparia, said the maximum call OI is at the 23,000 then 23,400 strike,…