The Indian stock market is expected to open lower on Friday ahead of the US Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole Economic Symposium.
The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 25,084 level, a discount of nearly 38 points from the Nifty futures’ previous close.
The equity market extended its rally for the sixth consecutive session on Thursday, and the benchmark Nifty 50 closed above 25,000 level.
The Sensex advanced 142.87 points, or 0.17%, to close at 82,000.71, while the Nifty 50 settled 33.20 points, or 0.13%, higher at 25,083.75.
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 25,500 then 25,200 strike, while maximum Put OI is at 25,000 then 24,500 strike.
“Call writing is seen at 25,600 then 25,100 strike while Put writing is seen at 25,100 then 25,000 strike. Option data suggests a broader trading range in between 24,600 to 25,600 zones while an immediate range between 24,800 to 25,300 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 formed a bearish candle on the daily frame as it closed lower than its opening zones but it continued to form higher lows from the last eight sessions. Now, Nifty 50 has to hold above 25,000 zones for an up move towards 25,150 then 25,250 zones, while support can be seen at 24,900 then 24,800 zones.
Bank Nifty Outlook
Bank Nifty index gained 56.95 points, or 0.10%, to close at 55,755.45 on Thursday, forming a small bodied candle on daily scale as buying is visible at lower levels but momentum is missing at higher zones and the index is hovering near its 50 DEMA.
“Now, Bank Nifty index has to hold above 55,555 zones for an up move towards 56,000 then 56,250 levels, while on the downside, support is seen at 55,555 then 55,250 zones,” Taparia said.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 22 August 2025. Taparia recommends buying Exide Industries, Cummins India, and L&T Finance shares.
Exide Industries | Buy | Target Price: ₹420 | Stop Loss: ₹390
Exide Industries share price has broken out of a consolidation breakout on the daily chart with higher than average traded volumes. The MACD indicator has given a bullish crossover to confirm the positive momentum.
Taparia recommends buying Exide Industries shares for a target price of ₹420 apiece, while maintaining a stop loss at ₹390 level.
Cummins India | Buy | Target Price: ₹4,185 | Stop Loss: ₹3,735
Cummins India share price has formed a bullish “Pole & Flag” pattern on the daily chart which suggests a continuation of the uptrend. It is respecting its 20 DEMA with slight dips being bought into. The ADX line is rising which confirms the strength of the uptrend, Taparia said.
He has a ’Buy’ call on Cummins shares, with a target price of ₹4,185 apiece, and a stop loss of ₹3,735 level.
L&T Finance | Buy | Target Price: ₹235 | Stop Loss: ₹214
L&T Finance share price has given a range breakout near its “All Time High” zones with a bullish candle. The RSI indicator is positively placed which has bullish implications, according to Taparia.
He suggests buying L&T Finance shares for a target of ₹235 and keeping a stop loss of ₹214.
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.
