Stock market today: Both market indices – Sensex and Nifty – are likely to open in green on Tuesday, December 23. Asian markets on Monday mirrored the upbeat sentiment from Wall Street.
GIFT Nifty also signalled a strong start for domestic indices, with GIFT Nifty trading around 26,237—up 26 points, or 0.10%, compared to the previous close of Nifty futures, on Tuesday.
On Monday, the Indian stock market ended the session with solid gains, buoyed by a recovery in the rupee and favourable geopolitical cues. The Sensex jumped 638 points, or 0.75%, closing at 85,567.48, while the Nifty 50 rose 206 points, or 0.79%, to finish at 26,172.40.
On the Nifty options front, Chandan Taparia, Head – Derivatives and Technicals, Wealth Management, MOFSL, said that the maximum Call OI is at 26200 then 26150 strike while maximum Put OI is at 26100 then 26000 strike.
Taparia added, “Option data suggests a broader trading range in between 25800 to 26500 zones while an immediate range between 26000 to 26300 levels.”
Nifty 50 Outlook
Nifty index opened gap up by almost 90 points and picked up momentum from the previous session and escalated throughout the session to touch 26180 zones.
It recouped the losses of the previous two weeks and closed at its higher band with gains of around 210 points. It formed a bullish candle on the daily frame and has been making higher highs – higher lows from the last two sessions. Now it has to hold above 26150 zones for an up move towards 26250 then 26325 zones while supports have shifted higher to 26050 then 25950 zones, according to Taparia.
Bank Nifty Outlook
Bank Nifty index opened on a positive note near 59200 zones and extended the momentum towards 59350 levels in the initial hour of the session. Later it remained consolidative in a narrow range of 200 points between 59150 to 59350 zones in the latter part of the session.
“It formed a small bullish candle on daily scale as buying is visible at lower zones and it closed above its 20 DEMA. Now it has to hold above 59250 zones for a bounce towards 59500 then 59750 zones while on the downside support is seen at 59000 then 58750 levels,” said Taparia.
Chandan Taparia has recommended three stocks to buy today, 23 July 2025. Taparia recommends buying UPL, Hindalco and TVS Motor shares today.
Stocks to buy
UPL | Buy | Target Price: ₹822 | Stop Loss: ₹752
Stock has broken out from a consolidation zone with a massive bullish candle on the daily chart. It has also bounced up from its 50 DEMA. The RSI indicator is positively placed which has bullish implications.
Hindalco | Buy | Target Price: ₹918 | Stop Loss: ₹837
Stock has given a range breakout near its “All Time High” zones with higher than average traded volumes. The MACD indicator is rising to confirm the positive momentum.
TVS Motor | Buy | Target Price: ₹3950 | Stop Loss: ₹3610
Stock has broken out from a bullish “Flag & Pole” patter suggesting a continuation of the uptrend. The RSI momentum indicator us rising to support the up move.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
