The Indian stock market is expected to open lower on Friday amid cautiousness on the domestic front, despite strong global market cues. The trends on Gift Nifty also signal a tepid start for the benchmark indices, Senex and Nifty 50.
The equity market extended its rally on Thursday and the benchmark Nifty 50 closed above 25,400 level.
The Sensex gained 320.25 points, or 0.39%, to close at 83,013.96, while the Nifty 50 settled 93.35 points, or 0.37%, higher at 25,423.60.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd said that the maximum Call Open Interest (OI) is at 25,500 then 25,400 strike, while maximum Put OI is at 25,400 then 25,300 strike.
“Call writing is seen at 25,400 then 25,500 strike, while Put writing is seen at 25,400 then 25,450 strike. Option data suggests a broader trading range in between 24,900 to 25,900 zones, while an immediate range between 25,200 to 25,700 levels,” Taparia said.
Nifty 50 Outlook
Nifty 50 index formed a small-bodied candle with a longer lower shadow, clearly indicating buying interest near support levels. Now, Nifty 50 has to hold above 25,350 zones for an up move towards 25,550 then 25,700 zones, while supports have shifted higher to 25,350 then 25,200 zones, Taparia said.
Bank Nifty Outlook
Bank Nifty index ended 234.15 points, or 0.42%, higher at 55,727.45 on Thursday, forming a small bearish candle on daily scale with long lower shadow as buying interest is visible at lower levels and forming higher lows from last nine sessions.
“Now, Bank Nifty has to hold above 55,500 zones for an up move towards 56,000 then 56,250 zones, while on the downside support is seen at 55,500 then 55,250 levels,” said Taparia.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 19 September 2025. Taparia recommends buying Mankind Pharma, Kotak Mahindra Bank and Ashok Leyland shares.
Mankind Pharma | Buy | Target Price: ₹2,800 | Stop Loss: ₹2,550
Mankind Pharma share price has broken out from a Symmetrical Triangle pattern with a large bodied bullish candle and higher than average volumes on the daily scale. The RSI indicator is rising which supports the positive momentum, Taparia said.
He recommends buying Mankind Pharma shares for a target price of ₹2,800 apiece, while maintaining a stop loss at ₹2,550 level.
Kotak Mahindra Bank | Buy | Target Price: ₹2,125 | Stop Loss: ₹2,020
Kotak Mahindra Bank share price has breached above the neckline of a double bottom pattern and managed to close above its 50 DEMA. The MACD indicator is positively placed which has bullish implications.
Taparia has a ‘Buy’ call on the stock, with Kotak Mahindra Bank share price target of ₹2,125 apiece, and a stop loss of ₹2,020.
Ashok Leyland | Buy | Target Price: ₹148 | Stop Loss: ₹134
Ashok Leyland share price is in an overall uptrend and is respecting its 20 DEMA with slight dips being bought into. The ADX line is rising which suggests the uptrend has strength, Taparia said.
He suggests buying Ashok Leyland shares for a target price of ₹148, while keeping a stop loss at ₹134 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.
