The Indian stock market is expected to extend gains and open higher on Tuesday, following a rally in global markets. The trends on Gift Nifty also signal a positive opening for the benchmark indices, Nifty 50 and Sensex today.
The domestic equity market ended marginally higher on Monday, with the benchmark Nifty 50 index holding above 24,700 level.
The Sensex rose 76.54 points, or 0.09%, to close at 80,787.30, while the Nifty 50 settled 32.15 points, or 0.13%, higher at 24,773.15.
On the Nifty options front, Chandan Taparia, Head – Derivatives and Technicals, Wealth Management, MOFSL said that the maximum Call Open Interest (OI) is at 25,000 then 24,900 strike, while maximum Put OI is at 24,800 then 24,700 strike.
“Call writing is seen at 24,900 then 24,850 strike, while Put writing is seen at 24,800 then 24,750 strike. Option data suggests a broader trading range in between 24,300 to 25,300 zones while an immediate range between 24,500 to 25,000 levels,” Taparia said.
Nifty 50 Outlook
Nifty 50 index formed a small-bodied bearish candle on a daily frame with a longer upper shadow, indicating profit taking at minor bounces. Now, according to Taparia, Nifty 50 has to hold above 24,750 zones for an up move towards 25,000 then 25,150 zones, while support can be seen at 24,700 and 24,600 zones.
Bank Nifty Outlook
Bank Nifty index ended 72.35 points, or 0.13%, higher at 54,186.90 on Monday, forming a small bodied candle with shadows on either side as support base buying is intact but momentum is missing at higher zones.
“Now, Bank Nifty has to hold above 54,000 zones for an up move towards 54,500 then 54,750 zones, while on the downside support is seen at 54,000 then 53,750 levels,” Taparia said.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 9 September 2025. Taparia recommends buying Tata Motors, JSW Steel and Laurus Labs shares.
Tata Motors | Buy | Target Price: ₹770 | Stop Loss: ₹699
Tata Motors share price has breached above the neckline of an “Inverted Head & Shoulder” pattern with large bodied bullish candle and higher than average traded volumes on the daily chart. The RSI momentum indicator is rising which confirms the bullish sentiment, said Taparia.
He recommends buying Tata Motors shares for a target price of ₹770 apiece, while maintaining a stop loss at ₹699 level.
JSW Steel | Buy | Target Price: ₹1,150 | Stop Loss: ₹1,075
JSW Steel share price has broken out from an “Ascending Triangle” pattern on the daily scale. It is respecting its 100 DEMA with slight dips being bought into. The MACD indicator has given a bullish crossover to support the positive momentum.
Taparia has a ‘Buy’ call on the stock, with JSW Steel share price target of ₹1,150, and a stop loss at ₹1,075.
Laurus Labs | Buy | Target Price: ₹970 | Stop Loss: ₹862
Laurus Labs share price has formed a bullish “Pennant Pattern” suggesting a continuation of the uptrend. It is respecting its 20 DEMA support zones. The RSI indicator has turned up which confirms the upwards momentum, said Taparia.
He suggests buying Laurus Labs shares for a target price of ₹970, while keeping a stop loss at ₹862 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.
