The Indian stock market is likely to open flat amid mixed global market cues on Tuesday. The trends on Gift Nifty also signal a muted opening for the benchmark indices, Nifty 50 and Sensex today.
On Monday, the equity market saw a sharp short-covering rally, with the benchmark Nifty 50 closing above 24,500 level.
The Sensex jumped 746.29 points, or 0.93%, to close at 80,604.08, while the Nifty 50 settled 221.75 points, or 0.91%, higher at 24,585.05.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services said that the maximum Call OI (Open Interest) is at 24,600 then 25,000 strike, while maximum Put OI is at 24,500 then 24,400 strike.
“Call writing is seen at 24,550 then 25,050 strike while Put writing is seen at 24,400 then 24,500 strike. Option data suggests a broader trading range in between 24,100 to 25,100 zones while an immediate range between 24,400 to 24,800 levels,” Taparia said.
Nifty 50 Outlook
Nifty 50 formed a bullish candle on the daily frame and recouped all of the losses of the previous sessions. Now, the Nifty 50 index has to hold above 24,442 zones for an up move towards 24,650 then 24,800 zones, while support can be seen at 24,350 then 24,250 zones.
Bank Nifty Outlook
Bank Nifty index rallied 505.85 points, or 0.92%, to close at 55,510.75 on Monday, forming an Inside bar on daily scale as buying is visible at lower levels but momentum was missing at higher zones.
“Bank Nifty index is hovering near its 100 DEMA and now it has to cross and hold above 55,555 zones for a bounce towards 55,750 then 56,000 levels, while a hold below the same could see some weakness towards 55,250 then 55,000 zones,” Taparia said.
Stocks to buy today
Chandan Taparia has recommended three stocks to buy today, 12 August 2025. Taparia recommends buying Indian Bank, PB Fintech and One 97 Communications (Paytm) shares today.
Indian Bank | Buy | Target Price: ₹720 | Stop Loss: ₹650
Indian Bank share price has given a range breakout with a large bodied bullish candle on the daily scale. Buying was visible across the PSU Bank space which may support the up move. The RSI indicator is rising which confirms the positive momentum, Taparia said.
He recommends buying Indian Bank shares for a target price of ₹720 apiece, while maintaining a stop loss at ₹650 level.
PB Fintech | Buy | Target Price: ₹1,960 | Stop Loss: ₹1,810
PB Fintech share price has broken out of a falling supply trend-line with a surge in volumes to support the up move. The MACD indicator has given a bullish crossover which confirms the positive momentum, according to Taparia.
He suggests buying PB Fintech shares for a target price of ₹1,960 apiece, while keeping a stop loss of ₹1,810 level.
Paytm | Buy | Target Price: ₹1,200 | Stop Loss: ₹1,085
Paytm share price has formed a bullish “Pennant” pattern which suggests a continuation of the uptrend. It is respecting its 20 DEMA with slight dips being bought into. The MACD indicator is headed up which confirms the uptrend.
Taparia has a ‘Buy’ call on Paytm shares, with a target price of ₹1,200 apiece. He suggests maintaining a stop loss at ₹1,085 level.
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.
