The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Friday, amid weak global cues. The trends on Gift Nifty also signal an opening in the red for the benchmark indices, Nifty 50 and Sesex today.
The equity market witnessed a stellar rally in the previous session, and the benchmark Nifty 50 closed above 25,500 level.
The Sensex surged 862.23 points, or 1.04%, to close at 83,467.66, while the Nifty 50 settled 261.75 points, or 1.03%, higher at 25,585.30.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd said that the maximum Call OI (Open Interest) is at 26,000 then 25,800 strike, while maximum Put OI is at 25,500 then 25,400 strike.
“Call writing is seen at 25,800 then 25,650 strike, while Put writing is seen at 25,500 then 25,600 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,” Taparia said.
Nifty 50 Outlook
Nifty 50 index formed a big bullish candle on a daily frame and has been making higher highs from the last three sessions. Now, Nifty 50 has to hold above 25,500 zones for an up move towards 25,700 then 25,850 zones, while supports have shifted higher to 25,450 then 25,350 zones.
Bank Nifty Outlook
Bank Nifty index ended 622.65 points, or 1.10%, higher at 57,422.55 on Thursday, forming a strong bullish candle on daily scale as buying interest was seen across private banks.
“Bank Nifty index has given the highest daily close of the last 74 sessions and it is just a few points away from its previous life high zones. Now, Bank Nifty has to hold above 57,250 zones for an up move towards its previous all-time high of 57,628 mark, then towards 58,000 zones, while on the downside, support is seen at 57,250 then 57,000 levels,” Taparia said.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 17 October 2025. Taparia recommends buying HDFC Bank, Tata Consumer Products and Titan Company shares.
HDFC Bank | Buy | Target Price: ₹1,040 | Stop Loss: ₹970
HDFC Bank share price has given Flag breakout on daily chart and managed to close above the same. Buying is visible across Pvt Banks which may support the ongoing up move. Momentum indicator RSI is rising to confirm the positive sentiment, Taparia said.
He recommends buying HDFC Bank shares for a target price of ₹1,040 apiece, while maintaining a stop loss at ₹970 level.
Tata Consumer Products | Buy | Target Price: ₹1,200 | Stop Loss: ₹1,120
Tata Consumer Products share price has given a trend line breakout on daily chart with surge in volumes which has bullish implications. ADX line has turned up confirming the strength of the ongoing uptrend.
Taparia has a ‘Buy’ rating on Tata Consumer Products shares, with a target price of ₹1,200 apiece, and a stop loss of ₹1,120.
Titan Company | Buy | Target Price: ₹3,850 | Stop Loss: ₹3,520
Titan Company share price has given Pennant pattern breakout on daily scale and formed a strong bullish candle. It is holding above crucial 20 & 50 DEMA and the base is shifting higher. MACD indicator is confirming the upwards momentum, Taparia said.
He suggests buying Titan shares for a target price of ₹3,850 apiece, while keeping a stop loss of ₹3,520 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.
