The Indian stock market traded with modest gains on Tuesday, following positive global market cues, with the benchmark Nifty 50 trading above the 25,000 level. Gains in IT and metal stocks were countered by selling in auto, pharma and realty stocks.
Sensex opened higher at 82,527.43 on Tuesday and hit an intraday high of 82,538.17 level, while the Nifty 50 opened at 25,166.65 and touched a high of 25,182.00 during the session.
On the Nifty options front, Chandan Taparia, Head – Derivatives and Technicals, Wealth Management, MOFSL, said that the maximum Call OI (Open Interest) is at 25,100 then 25,200 strike, while maximum Put OI is at 25,000 then 24,900 strike.
“Call writing is seen at 25,100 then 25,050 strike, while Put writing is seen at 25,000 then 25,100 strike. Option data suggests a broader trading range in between 24,600 to 25,600 zones, while an immediate range between 24,900 to 25,300 levels,” Taparia said.
He believes that the Nifty 50 has to decisively cross and hold above 25,150 zones, for a bounce towards 25,250 then 25,350 zones, while supports are placed at 24,800 then 25,650 zones.
Meanwhile, Bank Nifty index traded higher at 56,942.75 after opening higher on Tuesday. The index has been relatively outperforming the broader market as good buying interest is seen across banking heavyweights.
“Now, Bank Nifty has to hold above 56,750 zones for a bounce towards 57,250 then 57,500 levels, while on the downside support is seen at 56,750 then 56,500 zones,” Taparia said.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 22 July 2025. Taparia recommends buying Mahindra & Mahindra (M&M), UPL and L&T Finance shares today.
M&M | Buy | Target Price: ₹3,410 | Stop Loss: ₹3,140
M&M share price is on the verge of breakout from a 300-day consolidation range and is now trading close to its 52-week high, reflecting strong bullish undertone. Momentum indicators are placed in the positive zone, supporting the ongoing strength. Also, Nifty Auto index is strong, providing sectoral support, Taparia said.
He recommends buying M&M shares for a target price of ₹3,410 apiece, while maintaining a stop loss of ₹3,140 level.
UPL | Buy | Target Price: ₹750 | Stop Loss: ₹695
UPL share price has given a Cup and Handle breakout on the daily chart, backed by a strong bullish candle. The breakout suggests a potential trend reversal with momentum building for further upside, according to Taparia.
He has a ‘Buy’ call on the stock, with UPL share price target of ₹750 apiece, and suggests keeping stop loss at ₹695 level.
L&T Finance | Buy | Target Price: ₹222 | Stop Loss: ₹202
L&T Finance share price has successfully retested its breakout zone and is now set for a sharp move. It formed a bullish candle while negating the sequence of lower lows, supported by higher-than-average volumes, indicating renewed buying interest, MOFSL analyst said.
He recommends buying L&T Finance shares for a target of ₹222, with stop loss placed at ₹202 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.
