The Indian stock market is expected to open lower on Tuesday, 11 August, tracking mixed global cues. The trends on Gift Nifty also indicate a negative start for the Indian benchmark indices, Nifty 50 and Sensex today.
The Gift Nifty was trading around 24,614 level, a discount of nearly 46 points from the Nifty futures’ previous close.
The domestic equity indices ended flat in the previous session, with the benchmark Nifty 50 closing below 24,600 level.
The Sensex gained 43.27 points, or 0.06%, to close at 78,542.44, while the Nifty 50 settled 13.15points, or 0.05%, higher at 24,583.80.
On the Nifty options front, Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd, said that Maximum Call OI is at 24600 then 24,700 strike while Maximum Put OI is at 24,500 then 24,600 strike.
“Call writing is seen at 24,600 then 24,900 strike while Put writing is seen at 24,500 then 24,550 strike. Option data suggests a broader trading range in between 24,100 to 25100 zones while an immediate range between 24,400 to 24,900 levels,” said Taparia.
Nifty 50 Outlook
The Nifty 50 index opened on a flattish note and remained in a sideways trend throughout the session amid range-bound momentum. Bulls defended the 24,500 levels but failed to hold higher levels throughout the day. It formed a doji like candle on the daily frame and has been confined to a narrow trading range over the last six sessions.
“Now it has to cross and hold above 24,600 zones for an up move towards 24,750 then 24,850 zones while support can be seen at 24,450 then 24,350 zones,” said Taparia.
Bank Nifty Outlook
Bank Nifty index opened marginally higher and extended the momentum towards 58,000 zones in the initial hour of the session. However it failed to hold at higher zones and gradually drifted towards 57,500 levels in the latter part of the session. It formed a small bearish candle on daily scale as selling pressure is seen at higher zones and relatively underperformed the benchmark index.
“Now it has to hold above 57,500 zones for a bounce towards 58,000 then 58,250 levels while a hold below the same could see some weakness towards 57,250 then 57,000 zones,” said Taparia.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 11 August 2026. Taparia recommends buying TVS Motor Company, Shriram Finance and Grasim Industries shares.
Buy TVS Motor Company CMP ₹4,466; stoploss at ₹4,330; target at ₹4,735
Stock has been forming a strong higher high–higher low structure over the past three weeks indicating sustained bullish momentum. The weekly chart has witnessed a positive MACD crossover while RSI continues to sustain above the 70 mark reflecting strong momentum. It has also given a small consolidation breakout on the daily chart which further supports the positive outlook.
Buy Shriram Finance CMP at ₹1,138; stoploss at ₹1,100; target at ₹1,205
Stock has given a cup and handle breakout on the daily chart and is sustaining at higher levels indicating strong bullish momentum. The stock is trading above all its major DEMA levels while volumes have remained strong over the past few sessions. The combination of the breakout and sustained buying interest supports the positive outlook.
Buy Grasim Industries CMP at ₹3,380; stoploss at ₹3,275; target at ₹3,580
Stock has given a Darvas Box breakout on the weekly chart, indicating strengthening bullish momentum. RSI is sustaining above the 50 mark while MACD has shown a positive crossover, supporting the positive outlook. Volumes have also surged since last week, further confirming buying interest.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
