The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open flat to negative on Tuesday, 1 September, amid weak global cues.
The Gift Nifty trends also indicated a muted opening for the Indian benchmark indices. The Gift Nifty was trading around 24,197.5, at a discount of nearly 54 points to the previous close of Nifty futures, signalling a cautious start for the domestic market.
The Sensex and Nifty 50 ended lower in the previous trading session, with the benchmark Nifty 50 closing below the 24,100 level.
The Sensex declined 307.24 points, or 0.40%, to close at 76,957.27, while the Nifty 50 settled 95.25 points, or 0.39%, lower at 24,080.40.
On the Nifty options front, Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd, said that themaximum call OI is at 24,200 then 24,400 strike, while maximum put OI is at 24,000 then 24,050 strike.
“Call writing is seen at 24200 then 24200 strike while Put writing is seen at 24000 then 24050 strike. Option data suggests a broader trading range in between 23600 to 24500 zones while an immediate range between 23800 to 24300 levels,” said Taparia.
Nifty 50 Outlook
The Nifty 50 index opened on a flattish note and remained under bearish pressure in the first half amid strong selling momentum, with the index remaining under pressure before a recovery emerged in the second half. The index took support near the psychological 24,000 levels and recovered sharply in the last hour. It formed a hammer-type candle on the daily frame, indicating that support-based buying remains intact at lower levels.
“Now if it crosses and holds above 24,100 zones, then upside could be seen towards 24,250, then 24,350 zones, while support can be seen at 23,950, then 23850 zones,” said Taparia.
Bank Nifty Outlook
Bank Nifty index opened marginally lower, but spikes were seen towards the 57,600 zone in the initial hour of the session. However, it failed to hold at higher zones and remained quite choppy in a wider range of 500 points in the latter part of the session. It formed a large bullish candle on the daily scale, with buying interest visible at lower levels, and it is holding above its 50 DEMA.
“Now it has to hold above 58,000 zones for a bounce towards 58,500, then 58,750 levels, while on the downside support is seen at 57,750, then 57,500 zones,” the MOFSL analyst added.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 1 September 2026. Taparia recommends buying Sona BLW Precision Forgings, Aurobindo Pharma and Grasim Industries shares.
Sona BLW Precision Forgings| Buy | Target Price: ₹860 | Stop Loss: ₹790
Sona BLW Precision Forgings share price is in an overall uptrend, with small declines being bought into, indicating strong underlying demand. It has formed a strong base around the 800 zones and is witnessing buying interest from lower levels. Sustaining above the 825 zone could accelerate the momentum and trigger the next leg of the up move. The broader momentum in auto ancillary stocks also supports the positive outlook.
Aurobindo Pharma| Buy | Target Price: ₹1,820 | Stop Loss: ₹1,665
Aurobindo Pharma share price is in an overall uptrend and is trading in all-time high territory, reflecting strong bullish momentum. It has surpassed its previous swing high near the 1,680 zone and continues to form higher highs, indicating sustained buying interest. The RSI has also given a bullish crossover, further supporting the positive outlook.
Grasim Industries| Buy | Target Price: ₹3,570 | Stop Loss: ₹3,270
Grasim Industries share price is respecting its 20 DEMA and is witnessing a bounce from it, indicating buying interest on dips. It has given a breakout range over the last 8–10 sessions above the 3,350 zone. Sustaining above this level could trigger fresh buying momentum and pave the way for further upside.
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.
