Indian stock market: Indian benchmark indices, Sensex and Nifty 50, are likely to open on a weaker note on Tuesday, July 15, as investors await developments regarding the India-US trade agreement.
On Monday, the domestic equity market indices witnessed their fourth consecutive session of decline on Monday, with the Nifty 50 holding above the 25,000 level.
The Sensex declined 247.01 points, or 0.30%, to close at 82,253.46, while the Nifty 50 ended 67.55 points, or 0.27%, lower at 25,082.30.
On the Nifty 50 options front, Chandan Taparia, Head – Derivatives and Technicals, Wealth Management, MOFSL, said that the maximum Call OI (Open Interest) is at 25,500 then 25,300 strike, while maximum Put OI is at 25,000 then 25,100 strike.
“Call writing is seen at 25,100 then 25,200 strike, while Put writing is seen at 25,100 then 25,000 strike. Option data suggests a broader trading range in between 24,600 to 25,600 zones, while an immediate range between 24,800 to 25,300 levels,” Taparia said.
Nifty 50 Outlook
Nifty 50 formed a bearish candle on the daily frame, and has begun to slope downward as its making lower top – lower bottom structure, indicating some selling pressure is intact at bounce. Now, till it holds below 25,150 zones, weakness could be seen towards 25,000 then 24,800 zones, while hurdles are shifting lower at 25,222, then 25,350 zones, according to Taparia.
Bank Nifty Outlook
Bank Nifty index ended 10.65 points, or 0.02%, higher at 56,765.35 on Monday, and formed a Doji kind of pattern on the daily scale as tug of war continues between bulls and bears.
“The rate sensitive index is below its 10 DEMA as selling pressure is seen at higher zones. Now, till Bank Nifty holds below 57,000 zones, some weakness could be seen towards 56,500 then 56,250 levels, while on the upside, hurdle is seen at 57,000 then 57,250 zones,” Taparia said.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 15 July 2025. Taparia recommends buying Biocon, Prestige Estates Projects and JSW Energy shares today.
Biocon | Buy | Target Price: ₹404 | Stop Loss: ₹366
Stock is retesting its breakout from an ascending triangle on the daily chart with higher than average traded volumes. The RSI indicator is rising which confirms the bullish sentiment.
Prestige Estates Projects | Buy| Target Price: ₹1,860 | Stop Loss: ₹1,660
Price has formed a bullish flag & pole pattern on the daily chart which suggests a continuation of the uptrend. The MACD indicator has given a bullish crossover to confirm the positive momentum.
JSW Energy | Buy | Target Price: ₹570 | Stop Loss: ₹515
Stock has broken out of a symmetrical triangle and surpassed above its 100 DEMA. The RSI momentum indicator is positively placed which has bullish implications.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
