Stock market today: The Indian stock markets opened flat on Wednesday, despite a positive lead from both the US and Asian markets. Analysts indicate that investors in the Indian stock markets are experiencing trading activity that lacks a clear direction.
Reflecting on the sentiment in the market, experts noted that the monthly expiry is approaching for the Indian markets. The previous day, Tuesday, experienced considerable volatility, and similar fluctuations are expected on Wednesday and Thursday. The increase in Covid cases is causing some concern, but the prevailing view is that it is a mild variant appearing with the arrival of the monsoon, and it will likely be managed effectively.
At 12:36 IST, Sensex dropped by 120.93 points to reach 81,430.70, while the Nifty 50 fell by 38.95 points to settle at 24,788.10.
Jay Thakkar of ICICI Securities suggests to buy only above 25,150 for the targets of 25,500 and 25,800 with a stop loss of 24,900. Here’s what he says about the overall market.
Market Outlook by Jay Thakkar, Vice President & Head of Derivatives and Quant Research, ICICI Securities
Nifty 50
Nifty 50 has got stuck in a range i.e. between 25,150 to 24,400 and there isn’t a breakout from this range the short-term trend will be sideways to negative. There has been continuous supply at the higher levels and the Index is unable to surpass its recent swing high. The FIIs also have been selling more than buying on alternate days due to which the momentum has slowed down.
The India VIX has been rising since last Friday due to which there has been selling pressure at the higher levels. The Bank Nifty which has the highest weightage in Nifty 50 has also gone sideways since after hitting high on 23rd April 2025, so overall until these two Indices don’t take of their recent swing highs and unless the India VIX cools off, the overall trend will be sideways to negative only. So, buy only above 25,150 for the targets of 25,500 and 25,800 with a stop loss of 24,900.
Levels for Nifty 50
Support: 24,500 and 24,400
Resistance: 25,000 and 25,150
Targets: 25,500 and 25,800
Stocks To Buy in the near-term – Jay Thakkar
Jay Thakkar of ICICI Securities recommends Tata Chemicals June Futures, CONCOR (Container Corporation of India Ltd) June Futures, and Dabur India June Futures.
Buy CONCOR June Futures in the range of ₹765 to ₹775; Stop Loss at ₹730; Targets at ₹850 and ₹880
CONCOR share price seems to have formed the base as the price action confirms the higher tops and bottoms and with that the OI has been rising which is a sign of long built up. The stock has witnessed huge long unwinding due to which the stock fell from 1200 to 600 i.e. 50% approximately, hence a bounce back or a retracement of the entire fall can’t be ruled out and the minimum targets are 850 and 880. There has been put additions and call unwinding which is a positive sign in the near term, only 800 strike has the highest call OI in the short term, so it is important to take off those levels in order to gain further momentum. The stock is trading above its 20-day VWAP level and that is positive in the near term.
Buy Tata Chemicals June Futures in the range of ₹900 to ₹890; Stop Loss at ₹865; Targets at ₹935 and ₹950
Tata Chemicals share price has seem quite a sell off from 1300 to 780 on a closing basis which is nearly 40% from the top. The overall correction was due to long unwinding and now with a breakout above the two previous swing highs and increase in OI there is some long built up seen. The stock is also trading well above its 20-day VWAP i.e. 880, hence the risk: reward on the long side is much favorable. There is a highest call OI at 900 strike, hence above that level it will gain further upward momentum.
Buy Dabur June Futures in the range of ₹480 to ₹490; Stop Loss at ₹470 with targets of ₹515 and ₹525
Dabur share price has witnessed huge shorts since last many quarters and there has been correction and consolidation in the stock. Now, it seems to have reversed as its forming higher tops and bottoms as well as the OI seems to reversing. The stock is hovering around its 20-day VWAP; hence it should bounce from here only, however, some consolidation can’t be ruled out. On the options front, it has highest call OI is at 500, so it will gain further momentum only above 500 levels.
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 27/05/2025 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.
