Indian stock market: Both market indices – Sensex and Nifty – are likely to open on a cautious note on Friday, following a sharp sell-off in the stock market on the previous day.
Early signs from the Gift Nifty suggested a slightly positive opening, with the index trading at 26,002.5, up around 35 points or 0.13% from its previous close.
On Thursday, the benchmark indices Sensex and Nifty experienced sharp, broad-based declines, following weak global market trends. The Sensex recorded its steepest single-day percentage drop in over four months, while the Nifty 50 fell below the 25,900 level.
Heavy selling pushed the 30-share Sensex down 780 points, or 0.92%, closing at 84,180.96. According to Capitalmarket data, this was the index’s largest single-day fall since August 26, 2025, when it had declined 1.04%.
On the Nifty options front, Chandan Taparia, Head – Derivatives and Technicals, Wealth Management, MOFSL, said that Maximum Call OI is at 26100 then 26200 strike, while Maximum Put OI is at 25700 then 25500 strike.
“Call writing is seen at 26000, then 26100 strike, while Put writing is seen at 25900, then 25700 strike. Option data suggests a broader trading range between 25400 and 26400 zones, while an immediate range between 25700 and 26100 levels,” Taparia said.
Nifty 50 Outlook
According to Taparia, the Nifty index opened negative and cascaded throughout the session and stooped down to 25860 levels.
“It broke all its immediate support levels and gave in to selling pressure to close near its lower band with losses of around 260 points. It formed a bearish candle on the daily frame and is forming lower highs – lower lows from the last three sessions. Now till it holds below 25950 zones, weakness could be seen towards 25700 then 25600 zones while resistances have shifted lower to 26000 then 26150 zones,” Taparia said.
Bank Nifty outlook
Bank Nifty index opened on a negative note, but a quick recovery was seen from lower levels towards the 60100 zones in the initial hour of the session.
“The index again failed to hold at higher zones and drifted lower towards 59550 zones. It formed a bearish candle on the daily scale and is forming lower highs – lower lows from the last few sessions as selling pressure is seen at higher zones. Now till it holds below 59750 zones, some weakness could be seen towards 59500 then 59250 zones, while on the upside hurdle is seen at 60000 then 60250 levels,” Taparia added.
Stocks to buy or sell
Chandan Taparia has recommended three stocks to buy or sell today — Indus Towers, Eternal, and National Aluminum Co.
Indus Towers | Buy | Target Price: 445 | Stop Loss: 420
Stock is in an overall uptrend and is respecting its 20 DEMA support zones with slight dips being bought into. The ADX line is rising which confirms the strength of the uptrend.
Eternal Buy | Target Price: 300 | Stop Loss: 275
Stock is hovering around its 200 DEMA support zones and formed a base. The Stochastic indicator has exited its oversold zones suggesting a bullish reversal.
National Aluminum Co. , sell , Target Price: 315 | Stop Loss: 342
Stock has formed an “Evening star” candlestick pattern suggesting a bearish reversal. The RSI indicator has given a bearish crossover to confirm the reversal.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
