The Indian stock market is expected to open lower on Tuesday, tracking unfavorable cues from global markets. The trends on Gift Nifty also signals a weak start for the frontline indices, Nifty 50 and Sensex today.
The domestic equity market indices ended higher in the previous session, with the benchmark Nifty 50 closing above 25,700 level.
The Sensex gained 479.95 points, or 0.58%, to close at 83,294.66, while the Nifty 50 settled 141.75 points, or 0.55%, higher at 25,713.00.
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 26,000 then 25,800 strike, while maximum Put OI is at 25,600 then 25,500 strike.
“Call writing is seen at 25,750 then 25,700 strike, while Put writing is seen at 25,700 then 25,600 strike. Option data suggests a broader trading range in between 25,300 to 26,200 zones, while an immediate range between 25,500 to 25,900 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 index formed a small-bodied bullish candle on the daily frame with wicks on both sides, suggesting some lack of follow up buying and a need of unwinding of call writers at the higher levels for a fresh leg of rally.
“Now, Nifty 50 has to hold above 25,650 zones for an up move towards 25,850 then 26,000 zones, while support can be seen at 25,600 then 25,500 zones,” said Taparia.
Bank Nifty Outlook
Bank Nifty index gained 92.25 points, or 0.15%, to close at 61,264.25 on Monday, forming a small-bodied candle on daily scale as buying is visible at lower zones but momentum is missing at higher levels.
“Now, Bank Nifty index has to hold above 61,000 zones for an up move towards 61,500 then 61,765 mark, while on the downside, support is seen at 61,000 then 60,750 zones,” Taparia added.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 24 February 2026. Taparia recommends buying Dr Reddy’s Laboratories, Indian Oil Corporation and SBI Life Insurance Company shares.
Dr Reddy’s Laboratories | Buy | Target Price: ₹1,415 | Stop Loss: ₹1,250
Dr Reddy’s Laboratories share price has broken out from a consolidation zone on the daily chart with a strong bodied bullish candle and high traded volumes. The MACD line is rising which confirms the positive momentum, said Taparia.
He recommends buying Dr Reddy’s Laboratories shares for a target price of ₹1,415 apiece, while maintaining a stop loss at ₹1,250 level.
Indian Oil Corporation Buy | Target Price: ₹188 | Stop Loss: ₹170.40
Indian Oil Corporation share price is retesting its breakout and has bounced up from its 20 DEMA support zones on the daily chart. The RSI momentum indicator is positively placed which has bullish implications.
Taparia suggests buying Indian Oil Corporation shares for a target price of ₹188 a piece, while keeping a stop loss of ₹170.40.
SBI Life Insurance | Buy | Target Price: ₹2,250 | Stop Loss: ₹2,040
SBI Life Insurance has given a breakout from a “Channel” pattern on the daily scale after bouncing up from its 200 DEMA support zones. The ADX line is rising which confirms the strength of the bullish trend, said Taparia.
He has a ‘Buy’ call on the stock, with SBI Life Insurance share price target of ₹2,250, and a stop loss of ₹2,040 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.
