The Indian stock market is expected to open on a flat note on Tuesday amid mixed global market cues. The trends on Gift Nifty also signal a muted start for the benchmark indices, Sensex and Nifty 50.
In the previous session, the equity market witnessed a strong rally and the benchmark Nifty 50 ended above 25,000 level.
The Sensex surged 582.95 points, or 0.72%, to close at 81,790.12, while the Nifty 50 settled 183.40 points, or 0.74%, higher at 25,077.65.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd said that the maximum Call Open Interest (OI) 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 25,200 strike, while Put writing is seen at 25,000 then 25,050 strike. Options 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.
Nifty 50 Outlook
Nifty 50 index has formed a bullish candle on the daily frame and has been making higher highs – higher lows from the last three sessions. Now, Nifty 50 has to hold above 25,000 zones for an up move towards 25,200 then 25,350 zones, while support can be seen at 24,900 then 24,850 zones, Taparia said.
Bank Nifty Outlook
Bank Nifty index rallied 515.60 points, or 0.93%, to end at 56,104.85 on Monday, forming a bullish candle on daily scale and gave a range breakout on daily scale above 56,000 zones as good buying was seen in selective Private banks.
“Now, Bank Nifty has to hold above 56,000 zones for an up move towards 56,250 then 56,500 zones, while on the downside support is seen at 56,000 then 55,750 levels,” Taparia added.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 7 October 2025. Taparia recommends buying BSE, Polycab India, and IIFL Finance shares.
BSE | Buy | Target Price: ₹2,415 | Stop Loss: ₹2,099
BSE share price has bounced up from its 200 DEMA support zone and formed a strong bodied bullish candle. The Stochastic indicator has exited the oversold zone to confirm the up move, Taparia said.
He recommends buying BSE shares for a target price of ₹2,415, while maintaining a stop loss of ₹2,099.
Polycab India | Buy | Target Price: ₹8,075 | Stop Loss: ₹7,410
Polycab India share price has broken out from a round bottom pattern on the daily chart with higher than average traded volumes. The RSI indicator is rising which confirms the bullish momentum.
Taparia has a ‘Buy’ call on the stock, with Polycab India share price target of ₹8,075 apiece, and a stop loss at ₹7,410 level.
IIFL Finance | Buy | Target Price: ₹500 | Stop Loss: ₹455
IIFL Finance share price has given a range breakout on the daily chart with higher than average traded volumes. The MACD indicator is rising which confirms the positive price movement, according to Taparia.
He suggests buying IIFL Finance shares for a target price of ₹500, while keeping a stop loss at ₹455 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.
