stock market today: Indian indices began Wednesday’s session on a subdued note, as geopolitical risks and tariff-related worries dampened confidence around the earnings outlook, keeping the Sensex and Nifty below their record highs.
At the open, the BSE Sensex slipped 112 points, or 0.13%, to 84,952, while the NSE Nifty 50 fell 56 points, or 0.22%, to 26,122.
Persistent foreign fund outflows weighed on markets in early trading. Exchange data showed that foreign institutional investors sold equities worth 107.63 crore on Tuesday, while domestic institutional investors provided support by purchasing shares worth Rs 1,749.35 crore.
On Tuesday, the Sensex fell 376.28 points, or 0.44%, to close at 85,063.34, while the Nifty slipped 71.60 points, or 0.27%, to finish at 26,178.70.
Market Outlook by Jay Thakkar, Vice President & Head of Derivatives and Quant Research, ICICI Securities:
Nifty 50
Nifty has witnessed after making a new lifetime high, and this has been the trend so far that once the Nifty takes off its swing previous high, it gives up 60-70% of the previous up move. The Stocks like Reliance and HDFC Bank had put huge pressure on the Index, so despite positive global cues, the Nifty witnessed profit booking and closed below 26200 levels.
Now, until 26300 levels are not taken off the short-term bias remains sideways to negative for the levels of 26000 and below that it may slip back to 25700 levels. The upside can be witnessed only above 26300 levels. The India VIX has started to move higher and generally ahead of the budget it moves up by more than 20% hence 12% -13% VIX levels can be expected going ahead.
Stocks To Buy in the near-term – Jay Thakkar
Jay Thakkar of ICICI Securities recommends these stocks to buy in the near-term – Marico, Tata Elxsi, and Bajaj Auto.
Buy Marico in the range of 775-785 Stop Loss 755 target 810-825
Marico has provided a breakout from a huge sideways consolidation with an increase in Open Interest in the futures segment thus confirming long built up in the near term. The stock has also witnessed good put additions at the lower levels from 770-740 strikes indicating support at the lower levels. It is now trading well above its max pain and VWAP levels, hence the short-term outlook is bullish for the stock.
Buy Tata Elxsi in the range of 5530-5540 Stop Loss 5400 targets 5700-5800
The stock had witnessed huge bounce back on account of short covering post which it witnessed some consolidation. Now, the stock has again provided a breakout on the upside on back of short covering indicating that it is ready to catch up the rally which it missed in past couple of months. On back of short covering the stock is likely to inch towards 5700-5800 levels.
Buy Bajaj Auto in the range of 9320-9640 Stop Loss 9490 targets 9800-9950
The stock has provided a breakout from an ascending triangular pattern with decrease in open interest indicating short covering in the stock. This stock has also been a laggard in the sense that it has underperformed its peers in the past few months mainly since August mid. Now, the stock is witnessing buying interest on back of short covering which can help it to inch towards 9800-9950 levels in the near term.
Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 18/11/2025 or have no other financial interest and do not have any material conflict of interest.
The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
