The Indian stock market is likely to see a tepid opening on Friday, tracking mixed signals from global markets amid rising US-Iran tensions. The trends on Gift Nifty also signals a muted start for the frontline indices, Nifty 50 and Sensex today.
The domestic equity market indices crashed in the previous session, with the Nifty 50 closing below 25,500 level.
The Sensex tanked 1,236.11 points, or 1.48%, to close at 82,498.14, while the Nifty 50 settled 365.00 points, or 1.41%, lower at 25,454.35.
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 25,800 then 26,000 strike, while maximum Put OI is at 25,000 then 25,500 strike.
“Call writing is seen at 25,800 then 25,600 strike, while Put writing is seen at 24,800 then 25,000 strike. Option data suggests a broader trading range in between 24,900 to 25,900 zones, while an immediate range between 25,200 to 25,600 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 formed a bearish marubozu candle on the daily frame and gave up all its gains of the previous three sessions to close with massive losses of around 370 points.
“Now, till Nifty 50 holds below 25,500 zones weakness could be seen towards 25,200 then 25,000 zones, while hurdles are placed at 25,550 then 25,700 zones,” said Taparia.
Bank Nifty Outlook
Bank Nifty index ended 811.25 points, or 1.32%, lower at 60,739.55 on Thursday, forming a bearish engulfing candlestick on daily scale as selling pressure was seen at higher zones.
“Bank Nifty index is hovering near its 10 DEMA and again got stuck in a wider range of 1,500 points as some pause is seen at the higher zones. Now, till Bank Nifty holds below 60,750 zones some weakness could be seen towards 60,250 then 60,000 levels, while on the upside, hurdle is seen at 61,000 then 61,250. zones,” Taparia added.
Stocks to buy or sell
Chandan Taparia has recommended two stocks to buy today, 20 February 2026, and one stock to sell. Taparia recommends buying Oil and Natural Gas Corporation (ONGC) and RBL Bank shares. On the other hand, he recommends selling Info Edge (India) stock futures.
ONGC | Buy | Target Price: ₹295 | Stop Loss: ₹265
ONGC share price has formed a bullish “Pennant” pattern on the daily chart suggesting a continuation of the uptrend. It is respecting its 20 DEMA support zones with slight dips being bought into. The ADX line is rising which confirms the strength of the bullish trend, Taparia said.
He recommends buying ONGC shares for a target price ₹295 a piece, while maintaining a stop loss of ₹265 level.
RBL Bank Buy | Target Price: ₹355 | Stop Loss: ₹320
RBL Bank 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.
Taparia has a ‘Buy’ call on the stock with RBL Bank share price target of ₹355, and a stop loss of ₹320.
Info Edge | sell | Target Price: ₹1,025 | Stop Loss: ₹1,125
Info Edge share price is in an overall downtrend and is respecting its 10 DEMA resistance zones with slight rises being sold off. The RSI indicator is declining which confirms the bearish momentum, said Taparia.
He suggests selling Info Edge stock futures of 24 February expiry for a target price of ₹1,025 apiece, and keeping a stop loss at ₹1,125 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.
