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Indian markets are on a positive note as the Sensex increased over 600 points and the Nifty50 closed at 18,500 levels boosting the bulls and aiding in the fresh leg of the index. India VIX reduced by 4.95%, giving strength to the bulls, making Options data scattered in various far strikes in the monthly series. Broader trading ranges fall between 18200 to 18800 zones, while immediate trading ranges fall between 18,300 to 18,650 zones. Various experts have suggested that traders with a short-term horizon should purchase stocks like Reliance Industries, IDFC First Bank, Canara Bank, Marico, Bharti Airtel, SBI, HCL Technologies, L&T, and Gujarat Gas.

Income growth worldwide is still pretty decent and the US income data in particular shows that consumers are still purchasing, maybe not goods as much as they used to, but services definitely and that is true in the US, that is true in large parts of Asia which means services inflation remains sticky and that is what we saw in the core personal expenditure data for the month of April that came out of the US late last week.

IDFC First Bank, incorporated in the year 2014, is a banking company (having a market cap of Rs 46227.58 Crore).

From the Sensex pack, M&M, HDFC, Kotak Bank, IndusInd Bank and HDFC Bank were the top gainers, rising 1-3%. Bajaj Finserv, NTPC, and Nestle also opened higher. Whereas, only Sun Pharma and Power Grid opened in the red.

The compromise after weeks of intense talks offers a path back from the precipice, even as the clock is still ticking down to the June 5 "X-date" when the Treasury estimates there might not be enough cash to pay bills and debts.

​The Futures Long Position Scans identify these stocks based on their increasing or decreasing buy positions.​

Positive macroeconomic data and normal monsoon forecasts boosted equity markets at the end of last week, with IT, realty and FMCG all seeing gains. RIL saw a 3% rise, but Page Industries saw a drop of 8.78%. Senior Technical Analyst, Swastika Investmart, Pravesh Gour, recommends buying RIL stocks as it has seen a breakout of inverse head and shoulder formation on the longer timeframe with strong volume, suggesting a potential bullish reversal. Med Plus is risky but currently trading above its moving averages, and Page Industries is a good buy for the long term.

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

Option data suggests a broader trading range in between 18200 to 18800 zones while an immediate trading range in between 18300 to 18650 zones.

European banks likely to be affected by the impasse between the European Securities and Markets Authority (ESMA) and the Reserve Bank of India (RBI) may bypass the contentious overseas regulations by holding less than half of the domestic entity, sources close to the development said.