The Indian stock market is likely to open higher on Tuesday, following upbeat global market cues. The trends on Gift Nifty also signal a positive opening for the domestic equity benchmark indices, Nifty 50 and Sensex.
In the previous trading session, the Indian stock market snapped its three-day losing streak and ended higher, with the benchmark Nifty 50 settled above 25,500 level.
The Sensex advanced 319.07 points, or 0.38%, to close at 83,535.35, while the Nifty 50 settled 82.05 points, or 0.32%, higher at 25,574.35.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd believes maximum Call Open Interest (OI) is at 25,700 then 25,600 strike while maximum Put OI is at 25,600 then 25,500 strike.
“Call writing is seen at 25,650 then 25,700 strike, while Put writing is seen at 25,600 then 25,500 strike. Option data suggests a broader trading range in between 25,100 to 26,000 zones, while an immediate range between 25,400 to 25,800 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 formed a bullish candle on the daily frame and negated its lower highs – lower lows formation of the last six sessions. Now, Nifty 50 has to hold above 25,500 zones for momentum to continue towards 25,650 then 25,800 zones, while support can be seen at 25,450 then 25,300 zones.
Bank Nifty Outlook
Bank Nifty index gained 60.75 points, or 0.10%, to close at 57,937.55 on Monday. The index is on the verge of a pole and flag breakout, and a sustained move above the breakout zone could drive it to fresh all-time highs of 58,577 mark.
“Bank Nifty index formed a bullish candle on the daily scale and continues to find support near its 20 DEMA. The outperformance in the rate-sensitive index persists, led by consistent buying interest in the heavyweight banking names. Now, Bank Nifty needs to hold above the 57,750 zone for an up move towards 58,577 and 59,000 zones, while on the downside, supports are placed at 57,750 and 57,500 zones,” said Taparia.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 11 November 2025. Taparia recommends buying Bharat Heavy Electricals Ltd (BHEL), Muthoot Finance, and Steel Authority of India (SAIL) shares.
BHEL | Buy | Target Price: ₹290 | Stop Loss: ₹264
BHEL share price has formed a bullish “Pole & Flag” pattern on the daily chart suggesting a continuation of the uptrend. The ADX line is rising which confirms the bullish trend, Taparia said.
He recommends buying BHEL shares for a target price of ₹290 apiece, while maintaining a stop loss at ₹264 level.
Muthoot Finance | Buy | Target Price: ₹3,560 | Stop Loss: ₹3,230
Muthoot Finance share price has bounced up from its 20 DEMA and is hovering near its “ATH” zones. It is in an overall uptrend with slight dips being bought into. The MACD indicator has given a bullish crossover to support the up moves.
Taparia suggests buying Muthoot Finance shares for target price of ₹3,560 apiece, and keeping stop loss at ₹3,230 level.
SAIL | Buy | Target Price: ₹156 | Stop Loss: ₹138
SAIL share price has broken out of a consolidation zone with a large bodied bullish candle and higher than average traded volume. The RSI indicator is rising to confirm the positive sentiment, Taparia said.
He has a ‘Buy’ call on the stock, with SAIL target price of ₹156 and stop loss of ₹138.
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.
