The Indian stock market is expected to open higher on Monday, tracking positive domestic and global cues. The trends on the Gift Nifty also signal a gap-up start for the benchmark indices, Nifty 50 and Sensex.
Last week, the markets remained choppy and the indices ended with marginal gains on Thursday. The Indian stock was shut on Friday on account of Independence Day.
The Sensex advanced 57.75 points, or 0.07%, to close at 80,597.66, while the Nifty 50 settled 11.95 points, or 0.05%, higher at 24,631.30.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services said that the maximum Call OI (Open Interest) is at 24,700 then 25,000 strike, while maximum Put OI is at 24,600 then 24,500 strike.
“Call writing is seen at 24,700 then 25,000 strike while Put writing is seen at 24,700 then 24,600 strike. Option data suggests a broader trading range in between 24,100 to 25,100 zones, while an immediate range between 24,400 to 24,900 levels,” Taparia said.
Nifty 50 Outlook
Nifty 50 index formed a small bodied bullish candle on the daily frame and a bullish candle on weekly frame with negation of lower lows formation of the last five weeks. Now, the Nifty 50 index has to hold above 24,500 zones for an up move towards 24,800 then 25,000 zones, while support can be seen at 24,442 then 24,350 zones.
Bank Nifty Outlook
Bank Nifty index gained 160.40 points, or 0.29%, to close at 55,341.85 on Thursday, forming a bullish candle on daily scale as buying interest is visible at lower levels but momentum is missing at higher levels.
“On the weekly scale, Bank Nifty formed a small bodied candle as multiple supports are intact at lower levels. Now, it has to hold above 55,250 zones for an up move towards 55,750 then 56,000 levels, while on the downside, support is seen at 55,250 then 55,000 zones,” Taparia said.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 18 August 2025. Taparia recommends buying Asian Paints, Eicher Motors and Eternal shares.
Asian Paints | Buy | Target Price: ₹2,700 | Stop Loss: ₹2,445
Asian Paints share price has broken out of an “Ascending Triangle” pattern with a strong bullish candle on the daily chart. The ADX line is rising which confirms the strength of the bullish trend, Taparia said.
He recommends buying Asian Paints shares for a target price of ₹2,700 apiece, while maintaining a stop loss at ₹2,445 level.
Eicher Motors | Buy | Target Price: ₹6,100 | Stop Loss: ₹5,600
Eicher Motors share price has breached above a falling supply trend-line on the daily chart with higher than average traded volumes. The MACD indicator has given headed up confirming the positive momentum.
Taparia has a ‘Buy’ call on Eicher Motors shares with a target price of ₹6,100, and stop loss of ₹5,600.
Eternal | Buy | Target Price: ₹345 | Stop Loss: ₹299
Eternal share price formed a bullish “Pole & Flag” pattern which suggests a continuation of the uptrend. It is respecting its 20 DEMA with slight dips being bought into. The RSI indicator is rising which confirms the upwards price movement, said Taparia.
He recommends buying Eternal shares for a target price of ₹345 apiece, while keeping a stop loss at ₹299 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.
