Stock market today: The key indices of the Indian stock market, Sensex and Nifty 50, are anticipated to begin on a subdued note on Wednesday, given the downturn in global markets. Gift Nifty was hovering around the 25,945 mark, reflecting a discount of approximately 4 points compared to the previous close of Nifty futures, suggesting a flat opening for the Indian stock market indices.
Asian markets experienced declines, and the US stock market fell overnight, with the S&P 500 recording its longest losing streak in three months at four consecutive days.
On Tuesday, the Indian stock market closed lower, with the key indices ending their six-day winning streak. The Sensex fell by 277.93 points, or 0.33%, finishing at 84,673.02, while the Nifty 50 ended down by 103.40 points, or 0.40%, at 25,910.05.
Market Outlook by Jay Thakkar, Vice President & Head of Derivatives and Quant Research, ICICI Securities
Nifty 50
Nifty 50 has closed in the negative territory in the last trading session and with that the weekly expiry closed below 26,000 levels which is not a positive sign in the near term. The 26,000 level is now acting as a clear supply zone and unless that is not taken off the overall bias in the near term remains sideways to negative.
The FIIs continue to increase their short positions in the Nifty 50 and it has now reached to almost 1.7L contracts whereas the India VIX is also trading near its 4 months high indicating that if there is a global sell-off from here then it could weigh pressure on the India Markets as well. The options data also suggest the same thing as 26,000 strike continues to have highest call base and it is acting as a resistance in the near term. So, until 26,000 levels are taken off then a bearish strategy on Nifty 50 can be adapted either a plain vanilla put option or a bear put spread or Protective call strategy can be initiated.
Stocks To Buy in the near-term – Jay Thakkar
Jay Thakkar of ICICI Securities recommends Infosys Futures, Torrent Pharma futures, and Adani Ports and Special Economic Zone futures.
Sell Infosys Fut in the range of 1,485-1,500 Stop Loss 1,5120 Targets 1,450 and 1,430
Infosys has been consolidating within a range of 1,550 to 1,400 since couple of trading session and there has been shorts additions in the stock on an overall basis. Recently, the stock has started to form lower tops and lower bottoms with an increase in open interest, so there is again some short build up, hence one can initiate short as the risk to reward is favourable for the bears. The options data also suggest the same as 1,500 to 1,600 strikes have huge call base indicating that the bears have an upper hand.
Buy Torrent Pharma Fut in the range of 3,770-3,885 stop loss 3,670 Targets 3,900 to 3,960
Torrent Pharma has recently provided a clean breakout from the sideways consolidation and the breakout has come with an increase in open interest in the futures segment which indicates long build up. The stock has witnessed some profit booking from the higher levels and this dip should be utilized as a buying opportunity as with this dip the risk to reward has now become favourable for the bulls. There is still significant OI in the 3600-strike call and there has been put additions at 3600 which will provide the support going forward, so on an overall basis the stock is likely to inch higher.
Buy Adani Ports Fut in the range of 1,490-1,500 stop loss 1,465 Targets 1,540 and 1,570
The stock has taken a support at the breakout level thus offering a better risk to reward to the short-term bulls. The stock was consolidating since couple of weeks and it was unable to surpass 1,480-1,490 range, however, it finally did and now it seems to be retesting the same. There has been some increase in the Open interest in the futures segment, however, the over leverage is still quite low, hence there is a higher chance of an upside from hereon. There is huge put base right from 1,400 – 1,500 strikes whereas 1,500-1,520 strikes has highest call OI which will act as a resistance, however, if those levels are taken off the upside potential is high.
Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 18/11/2025 or have no other financial interest and do not have any material conflict of interest.
The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
