Buy: Indian Oil Corporation Ltd (IOC) — Current Price: ₹154.85
Why it’s recommended: IOC is showing renewed strength, supported by strong energy sector momentum and stable crude prices. The daily RSI stands near 61.3, indicating bullish momentum. The MACD at +2.7 supports the positive crossover, while the ADX at 35.8 reflects trend acceleration. The stock has broken above its short-term consolidation band, confirming a continuation setup toward ₹162– ₹164.
Key metrics: RSI (14-day): 61.3 — bullish momentum intact
MACD (12,26): +2.7 — trend confirmation
ADX (14): 35.8 — strengthening trend
Technical view: Sustaining above ₹151 keeps the bias bullish, opening scope for ₹162– ₹164.
Risk factors: Oil price fluctuations could affect refining margins.
Global energy demand uncertainty may lead to short-term volatility.
Buy at: ₹154.85
Stop loss: ₹151.00
Target price: ₹162– ₹164
Buy: Adani Energy Solutions Ltd — Current Price: ₹926.65
Why it’s recommended: Adani Energy Solutions is exhibiting strong price structure and momentum, with the stock breaking above near-term resistance levels. The daily RSI at 67.5 reflects healthy bullish momentum, while the MACD at +6.4 confirms continued trend strength. The ADX at 44.1 highlights a powerful trend phase, with rising volumes adding conviction to the move.
Key metrics: RSI (14-day): 67.5 — bullish and strengthening
MACD (12,26): +6.4 — positive, confirming trend continuation
ADX (14): 44.1 — strong trend phase
Technical view: Sustaining above ₹913 keeps the trend intact, with potential for a move toward ₹953.
Risk factors: Volatility in power tariff policy and regulatory frameworks.
Broader market weakness could limit short-term upside.
Buy at: ₹926.65
Stop loss: ₹913.00
Target price: ₹953.00
Buy: FSN E-Commerce Ventures Ltd (Nykaa) — Current Price: ₹255.35
Why it’s recommended: Nykaa has shown a fresh breakout from a consolidation range on improving volumes, indicating renewed buying interest. The daily RSI is around 64.7, suggesting healthy bullish momentum without being overbought. The MACD at +3.2 confirms a positive crossover, indicating trend continuation, while the ADX at 29.4 reflects a strengthening trend structure. Sustaining above ₹249 keeps the bias positive, with potential for follow-through gains toward ₹267.
Key metrics: RSI (14-day): 64.7 — bullish and strengthening
MACD (12,26): +3.2 — positive crossover, supporting uptrend
ADX (14): 29.4 — trend gaining strength
Technical view: Sustaining above ₹249 will maintain the bullish structure, paving the way for a move toward ₹267.
Risk factors: High volatility typical of mid-cap consumer-tech stocks.
Any slowdown in discretionary consumption could impact short-term momentum.
Buy at: ₹255.30
Stop loss: ₹249.00
Target price: ₹267.00
Market Wrap
On Tuesday, 6 October 2025, Indian markets witnessed a strong bullish sentiment. After opening on a gap-down note, equities quickly regained momentum, sustaining steady buying throughout the session and closing in green — signaling renewed strength across major indices. Financials and metal stocks were the key drivers behind the recovery.
The NIFTY 50 advanced 183.40 points to close at 25,077.65, while the BSE SENSEX climbed 582.95 points to settle at 81,790.12. NIFTY BANK also showed impressive strength, gaining 515.60 points to finish at 56,104.85.
Sectoral performance leaned broadly positive, with healthcare up by 1.29%, service sector gaining 1.15%, and financial services advancing 1.08%. On the other hand, the metal index slipped 0.89%, FMCG declined 0.20%, and PSE index edged lower by 0.08%.
In stock-specific action, Max Health Hospital surged 6.59%, Shriram Hospital gained 3.97%, and TCS advanced 2.98%, lending strong support to the indices. Meanwhile, Tata Steel declined 1.82%, Adani Ports fell 1.31%, and Power Grid eased 0.97%, slightly capping the upside.
Nifty Technical Outlook – October 7, 2025
The Nifty 50 continued its upward trajectory on Monday, October 06, 2025, maintaining strong follow-through buying after recent consolidation. The index showed resilience throughout the session, supported by broad-based sectoral participation and improving technical momentum.
From a technical standpoint, the index is showing renewed bullish strength. The Nifty is now comfortably trading above its short-term moving averages, with the 20-DMA at 25,007 and 40-DEMA at 24,914, both acting as firm support zones. The daily RSI has improved to 55, signaling strengthening momentum, while the MACD, though still slightly negative at –3, is on the verge of a positive crossover, suggesting a potential shift in short-term trend bias to bullish.
A key development is the 20-HMA crossing above the 40-HMA (20-HMA at 24,894 vs. 40-HMA at 24,887), marking a bullish crossover on the hourly timeframe. This technical signal typically indicates the beginning of a short-term uptrend and further upside potential. On the hourly chart, momentum indicators reinforce this view — the RSI stands at 71, signaling strong bullish momentum, while the MACD has turned sharply positive at +77, confirming intraday buying strength.
Derivatives Data Analysis
The derivatives setup supports the bullish undertone:
Total Put OI (24.06 Cr) is significantly higher than Total Call OI (15.86 Cr), leaving a positive OI differential of +8.21 Cr, reflecting heavy Put writing and strong confidence among bullish traders.
The day’s OI change data adds further conviction — Put OI rose by 3.90 Cr, while Call OI declined by 83.78 Lakh, generating a net positive OI differential of +4.74 Cr, confirming strong support-based activity.
The maximum Call OI is at the 25,100 strike, suggesting resistance in that zone, while the maximum Call OI change is seen at 25,200, marking the next key resistance level.
On the Put side, both the maximum OI and highest additions are concentrated at the 25,000 strike, making this level the most critical immediate support base for the index.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
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Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
