The Indian stock market is expected to open higher on Friday, tracking upbeat global market cues, even as sentiment remains cautious amid the fragile US-Iran ceasefire deal. The trends on Gift Nifty also signal a positive for the benchmark indices, Nifty 50 and Sensex today.
Gift Nifty was trading around 23,932 level, a premium of nearly 71 points from the Nifty futures’ previous close.
In the previous session, the Indian stock market crashed, with the Nifty 50 closing below 23,800 level.
The Sensex tanked 931.25 points, or 1.20%, to close at 76,631.65, while the Nifty 50 settled 222.25 points, or 0.93%, lower at 23,775.10.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services said that the maximum Call Open Interest (OI) is at 24,500 then 24,000 strike, while maximum Put OI is at 23,000 then 23,500 strike.
“Call writing is seen at 24,000 then 23,900 strike, while Put writing is seen at 23,000 then 23,700 strike. Option data suggests a broader trading range in between 23,400 to 24,200 zones, while an immediate range between 23,500 to 24,000 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 formed a small bodied bearish candle on the daily frame and broke its higher highs formation of the last three sessions, but longer lower wick suggests support based buying is intact. Now, Nifty 50 has to cross and hold above 23,800 zones for an up move towards 24,000 then 24,200 zones, while support can be seen at 23,600 then 23,500 zones, Taparia said.
Bank Nifty Outlook
Bank Nifty index plunged 882.20 points, or 1.58%, to close at 54,821.70 on Thursday, forming a bearish candle on the daily scale as some profit booking was seen at higher zones.
“Bank Nifty index is still hovering above its 20 DEMA as buying is visible at lower zones but multiple hurdles are intact at higher levels. Now, the index has to cross and hold above 55,000 zones for an up move towards 55,500 then 56,500 levels, while a hold below the same could see some weakness towards 54,500 then 54,000 levels,” said Taparia.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 10 April 2026. Taparia recommends buying Bharat Dynamics, Multi Commodity Exchange of India (MCX), and Hindalco Industries shares.
Bharat Dynamics | Buy | Target Price: ₹1,400 | Stop Loss: ₹1,285
After a sharp correction, Bharat Dynamics share price has formed a strong base near ₹1,100 and is witnessing a healthy pullback. It is now forming higher highs and higher lows indicating a positive trend reversal. The upmove is supported by improving volumes signalling renewed buying interest, Taparia said.
He recommends buying Bharat Dynamics shares for a target price of ₹1,400 apiece, while maintaining a stop loss at ₹1,285 level.
MCX | Buy | Target Price: ₹2,810 | Stop Loss: ₹2,575
MCX share price is on the verge of a cup and handle breakout indicating a potential bullish continuation setup. The stock is forming higher highs and higher lows with improving momentum reflecting strength in trend.
Taparia has a ‘Buy’ call on MCX shares, with a target price of ₹2,810 and a stop loss of ₹2,575.
Hindalco Industries | Buy | Target Price: ₹1,040 | Stop Loss: ₹955
Hindalco share price is giving a range breakout from the ₹980 zone, indicating a shift towards bullish momentum. The setup is supported by improving RSI and steady price action strength. A sustained move above this level can trigger fresh upside traction, Taparia said.
He suggests buying Hindalco Industries shares for a target price of ₹1,040 apiece, while keeping a stop loss at ₹955 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.
