Stock market today: The Indian stock market commenced the week nearly unchanged on Monday, as investors remained cautious in anticipation of the important meeting between US President Donald Trump and Russian President Vladimir Putin scheduled for the upcoming weekend.
The Nifty 50 index started the day at 24,371.50, reflecting a slight increase of 8.20 points or 0.03 percent, whereas the BSE Sensex opened at 79,885.36, rising by 27.57 points or 0.03 percent.
Market participants are keenly observing any developments from the meeting to evaluate possible tariff actions by Trump concerning India.
Rupak De from LKP Securities asserts that the Nifty 50’s trend is weak in the near term, with a potential drop towards 24,150–24,200. Conversely, there’s resistance located at 24,475–24,500 on the upside.
Technical views by Rupak De, Senior Technical Analyst, LKP Securities on F&O market:
The Nifty 50 slipped lower after failing to sustain above the 50 EMA on the hourly chart, signalling persistent selling pressure. Adding to the weakness, the index closed below the key support level of 24,400, underscoring bearish dominance. The formation of a lower-top, lower-bottom pattern further reflects the negative sentiment. In the short term, the trend remains weak, with a possible decline towards 24,150–24,200. On the upside, resistance is placed at 24,475–24,500.
Open Interest Analysis: Significant open interest additions were seen in 24,500 Calls on Friday; while, no meaningful Put writings were visible. Maximum Call writing seen at 24,500 strike while, maximum Put writing was visible at 24,000.
Strategy: Sentiment is likely to weaken below 24000.
Trade: Buy Nifty 50 14th Aug 24300PE ABOVE 116 TGT 170 SL 88
Buy Medanta Above ₹1,420 | Target: ₹1,500 | Stop-loss: ₹1,379
Medanta has delivered a decisive breakout from recent consolidation, reflecting increasing investor optimism. The RSI is in a bullish crossover and trending higher, reinforcing the positive momentum. The stock continues to trade above a key moving average on the daily chart. In the near term, the outlook remains strong with potential upside towards ₹1,500, while immediate support lies at ₹1,379.
Buy CDSL Above ₹1,565 | Target: ₹1,620 | Stop-loss: ₹1,520
CDSL has broken out of a consolidation range, signalling the possibility of a short-term uptrend. A sustained move above ₹1,565 is likely to accelerate bullish momentum. The near-term bias remains positive, with scope to rally towards ₹1,620. However, a drop below ₹1,520 could dampen sentiment.
Sell Tata Motors Aug Futures Around ₹635 | Target: ₹615 | Stop-loss: ₹646
Tata Motors has slipped from recent consolidation, indicating renewed bearish sentiment. The stock is trading below key moving averages on both daily and hourly charts, confirming a downtrend. Further weakness from current levels could push the price towards 615 in the short term. Resistance is seen at 645–646, and a breakout above this zone may reverse the prevailing trend.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
