As per weekly option data, there is a handful of Put writing on lower strikes ranging from 11,700 to 11,900 which shows Nifty likely to take support in the zone of 11,800. Call writing on higher strikes ranging between 11,900 and 12,100 shows market may face stiff resistance at higher strikes. Traders should remain positive as put OI at 11,800 will act as major support levels for the week but 12,000 will act as stiff resistance as maximum OI for the calls stands here. However, if Nifty is able to breach level of 12,000, it will lead to short covering move up to 12,200 levels making all-time high for the index. Therefore, traders should keep a positive bias and should buy at every dip keeping close eye on 11,780.
We can see a big momentum in following stocks:
Buy JSW Steel Ltd.: (Above Rs 257)
The stock is witnessing resistance breakout from the levels of 257. Moreover, it is witnessing resistance breakout from this level and breaching this level might result in good upside momentum.
Considering the technical evidence discussed above, we recommend buying the stock above for a target of Rs 278, keeping a stop loss at Rs 243 on closing basis.
Buy Max Financial Services Ltd.: (Above Rs 498)
After consolidating in a narrow range stock has formed a bullish flag pattern and has given breakout from level of 497.50. Further strength from the levels of 498 might lead to a bullish movement. We recommend buying the stock at 498 for the target of Rs 525, keeping a stop loss at Rs 478 on closing basis.
Disclaimer: The analyst does not hold position in any of the stocks mentioned above. 
 "Trading Strategy")
