The Indian stock market is expected to open higher on Friday, tracking positive cues from global markets. The trends on the Gift Nifty also signal a higher opening for the benchmark indices, Nifty 50 and Sensex.
The equity market ended marginally higher on Thursday, with the benchmark Nifty 50 closing off-highs, but above 24,700 level.
The Sensex advanced 150.30 points, or 0.19%, to close at 80,718.01, while the Nifty 50 settled 19.25 points, or 0.08%, higher at 24,734.30.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services said that the maximum Call Open Interest (OI) is at 25,000 then 24,900 strike while maximum Put OI is at 24,500 then 24,600 strike.
“Call writing is seen at 24,900 then 25,000 strike, while Put writing is seen at 24,800 then 24,900 strike. Option data suggests a broader trading range in between 24,200 to 25,200 zones, while an immediate range between 24,500 to 25,000 levels,” Taparia said.
Nifty 50 Outlook
Nifty 50 index formed a big bearish candle on the daily frame as it gave up its opening gains but has been making higher lows from the last four sessions. Now, according to Taparia, Nifty 50 has to hold above 24,700 zones for an up move towards 24,850 then 25,000 zones, while support levels can be seen at 24,650 and 24,500 zones.
Bank Nifty Outlook
Bank Nifty index gained 7.90 points, or 0.01%, to close at 54,075.45 on Thursday, forming a small bearish candle on daily scale as selling pressure was seen at higher zones but multiple supports are intact at lower levels.
“The rate sensitive Bank Nifty index has again got stuck in a wider range of 1,000 points as momentum is missing on either side. Now, it has to hold above 54,000 zones for an up move towards 54,500 then 54,750 zones, while on the downside, support is seen at 53,750 then 53,500 levels,” Taparia said.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 5 September 2025. Taparia recommends buying KEI Industries, Apollo Hospitals Enterprise and IDFC First Bank shares.
KEI Industries | Buy | Target Price: ₹4,425 | Stop Loss: ₹3,970
KEI Industries share price has broken out of a range with a large bodied bullish candle and high traded volume on the daily scale. The MACD indicator has given a bullish crossover which confirms the upwards momentum, Taparia said.
He recommends buying KEI Industries shares for a target price of ₹4,425 apiece, while maintaining a stop loss at ₹3,970 level.
Apollo Hospitals Enterprise | Buy | Target Price: ₹8,335 | Stop Loss: ₹7,685
Apollo Hospitals Enterprise share price has retested its breakout from a consolidation and headed up. It is respecting its 50 DEMA support zones with slight dips being bought into. The RSI momentum indicator is positively placed which has bullish implications.
Taparia has a ‘Buy’ call on Apollo Hospitals shares with a target price of ₹8,335, and a stop loss at ₹7,685 level.
IDFC First Bank | Buy | Target Price: ₹77.75 | Stop Loss: ₹69.45
IDFC First Bank share price has formed a bullish “Double Bottom” pattern on the daily chart suggesting a bullish trend. The stochastic indicator is rising which confirms the positive momentum, Taparia said.
He has a ‘Buy’ rating on the stock and IDFC First Bank share price target of ₹77.75, while keeping a stop loss of ₹69.45 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.
