The Indian stock market is expected to open lower on Tuesday, tracking a sell-off in global markets. The trends on Gift Nifty also signal a weak start for the benchmark indices, Nifty 50 and Sensex.
The equity market rallied in the previous session, with the benchmark Nifty 50 closing above 26,000 level.
The Sensex rallied 388.17 points, or 0.46%, to end at 84,950.95, while the Nifty 50 settled 103.40 points, or 0.40%, higher at 26,013.45.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd believes that the maximum Call Open Interest (OI) is at 26,000 then 26,100 strike, while maximum Put OI is at 25,900 then 26,000 strike.
“Call writing is seen at 26,000 then 26,100 strike, while Put writing is seen at 25,900 then 25,950 strike. Option data suggests a broader trading range in between 25,600 to 26,400 zones, while an immediate range between 25,800 to 26,200 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 index formed a bullish candle on the daily frame and finally closed near its day’s higher band with gains of around 100 points after successfully defending any intermediate pivots. Now, Nifty 50 has to hold above 25,900 zones for the next up move towards 26,150 then 26,277 zones, while support can be seen at 25,900 then 25,800 zones.
Bank Nifty Outlook
Bank Nifty index surged 445.15 points, or 0.76%, to close at 58,962.70 on Monday, forming a bullish candle on daily scale and gave a range breakout after 15 sessions above 58,500 zones with the highest ever daily close.
“Bank Nifty index is holding well above its short term moving and outperformance continues. Now, Bank Nifty index has to hold above 58,750 zones for an up move towards a new life high territory towards 59,500 then 60,000 zones, while on the downside, support has shifted higher to 58,750 then 58,500 levels,” said Taparia.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 18 November 2025. Taparia recommends buying Indian Bank, Mahindra & Mahindra (M&M), and L&T Finance shares.
Indian Bank | Buy | Target Price: ₹940 | Stop Loss: ₹870
Indian Bank share price has given a range breakout at its “All Time High” zones. It is respecting its 20 DEMA support zones with slight dips being bought into. The ADX line is rising which confirms the strength of the trend, Taparia said.
He recommends buying Indian Bank shares for a target price of ₹940 apiece, while maintaining a stop loss at ₹870 level.
M&M | Buy | Target Price: ₹3,930 | Stop Loss: ₹3,640
M&M share price has retested its breakout from a “Symmetrical Triangle” pattern on the daily chart and headed up. The RSI indicator is positively placed which has bullish implications.
Taparia has a ‘Buy’ call on M&M shares, with a target price of ₹3,930, and stop loss of ₹3,640.
L&T Finance | Buy | Target Price: ₹320 | Stop Loss: ₹289
L&T Finance share price has negated its lower lows formation on the daily scale with higher than average traded volumes. The MACD indicator has given a bullish crossover to confirm the positive momentum, Taparia said.
He suggests buying L&T Finance shares for a target price of ₹320 apiece, while keeping a stop loss of ₹289 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.
