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On the monthly Options front, the maximum Call OI is placed at 18000 and then towards 17000 strikes while the maximum Put OI is placed at 17000 and then towards 16500 strikes.

Nilesh Shah of Kotak AMC states that investments made before 31st March 2023 will continue to get the benefits of long-term capital gains and indexation. However, investors in the upper tax bracket will have to pay higher taxes. Shah believes that the AMC industry will have to focus more on financial education, as investors must be smart in understanding how they park their money. There are also many other potential options in the mutual fund industry, such as short-term bond funds, floating rate funds, and guilt funds.

The change has been incremental, with insurers owning 26% of government bonds at the end of December, up from 22% in 2010, according to finance ministry data. Their presence is likely understated thanks to the popular use of a derivative trade, worth $19 billion by some estimates, which masks purchases.

From the Sensex pack, HCL Tech, Reliance, Tata Steel, Maruti and M&M were the top gainers, rising 0.5-1%. Wipro, TCS, ICICI Bank and ITC also opened with gains. Whereas, Bharti Airtel, Sun Pharma, Tata Motors, Asian Paints and Tech Mahindra saw some selling.

Considering the turmoil in global markets, gold remains an attractive asset at this point. “We feel that it would be prudent to start with a higher exposure to debt and gold in 2023 and move towards equities in a calibrated manner through superior stock selection. Till there is clarity on the global macroeconomic front, it would be advisable to avoid high beta stocks and stick to cash rich and secular stories to generate superior risk-adjusted returns,” Stoxbox’s Chowdhury said.

Brokerage firms Morgan Stanley maintained an Equal-Weight rating on Paytm, Jefferies initiated a buy call on Ambuja Cements, UBS maintained its buy stance on Indian Hotels, and JM Financial maintained a buy rating on PI Industries.

A total of 3,348 shares changed hands on the counter till 10:10AM (IST).

On the technical charts, the 200-day moving average of the stock stood at Rs 299.13.

Chambal Fertilisers & Chemicals, incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 10542.54 Crore) operating in Fertilisers sector.

"The stock has seen strong buying at 565 level and made a high of Rs 743 on 10 March 2023. At present it is consolidating its previous gains. On the daily chart the momentum indicator viz RSI is trading flat, however the stock is showing higher Relative strength. Hence one can hold at CMP = Rs 630 with a stop loss of Rs 560 for target of Rs 740-780 levels in a couple of weeks," said Mileen Vasudeo, Senior Technical Analyst, Arihant Capital Markets.