The Indian stock market is expected to open on a tepid note Friday, following mixed global market cues, amid cautiousness over the uncertainty of US-Iran peace talks. The trends on Gift Nifty also signals a muted start for the frontline indices, Nifty 50 and Sensex today.
The Gift Nifty was trading around 19,440 level, a discount of nearly 30 points from the Nifty futures’ previous close.
The domestic equity market ended lower in the previous session, amid profit booking at higher levels, with the benchmark Nifty 50 closing near 24,200 level.
The fell 122.56 points, or 0.16%, to close at 77,988.68, while the Nifty 50 settled 34.55 points, or 0.14%, lower at 24,196.75.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services said that the maximum Call Open Interest (OI) is at 24,800 then 24,300 strike, while maximum Put OI is at 23,500 then 24,200 strike.
“Call writing is seen at 24,400 then 24,800 strike, while Put writing is seen at 24,000 then 23,500 strike. Option data suggests a broader trading range in between 23,700 to 24,700 zones while an immediate range between 23,900 to 24,400 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 formed a bearish candle on the daily frame, but a longer lower shadow indicates support based buying is intact.
“Now, has to cross and hold above 24,200 zones for an up move towards 24,400 then 24,600 zones, while support can be seen at 24,100 then 23,900 zones,” said Taparia.
Bank Nifty Outlook
Bank Nifty index declined 215.55 points, or 0.38%, to end at 56,086.40 on Thursday formed a small-bodied candle on daily scale as some profit booking was seen at higher zones but multiple supports are intact at lower levels.
“Now, index has to hold above 56,000 zones for an up move towards 56,500 then 56,750 levels, while on the downside, support is seen at 55,750 then 55,500 levels,” said Taparia.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 17 April 2026. Taparia recommends buying , and PB Fintech shares.
Eternal | Buy | Target Price: ₹268 | Stop Loss: ₹244
Eternal share price has given a range breakout with a strong bodied bullish candle and surpassed above its 50 DEMA. The RSI indicator is rising to confirm the positive momentum, Taparia said.
He recommends buying Eternal shares for a target price of ₹268, while maintaining a stop loss at ₹244 level.
Crompton Greaves | Buy | Target Price: ₹275 | Stop Loss: ₹253
Crompton Greaves share price has bounced up from its major support zones and negated its lower lows formation on the weekly scale. The Stochastic indicator has exited its oversold zone to confirm the up move.
Taparia has a ‘Buy’ call on the stock with Crompton Greaves share price target of ₹275 apiece, and a stop loss of ₹253.
PB Fintech | Buy | Target Price: ₹1,650 | Stop Loss: ₹1,500
share price has given a breakout from a falling supply trend-line. The stock has formed a strong bullish candle supported by rising volumes indicating buying interest. Sustaining above the breakout zone can lead to further upside traction, Taparia said.
He suggests buying PB Fintech shares for a target price of ₹1,650 apiece, while keeping a stop loss at ₹1,500 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.