The Indian stock market is expected to remain volatile on Tuesday amid cautiousness over the US-Iran peace talks and mixed global market cues. The trends on Gift Nifty also signal a negative start for the benchmark indices, Nifty 50 and Sensex today.
The Gift Nifty was trading around 24,005 level, a discount of nearly 115 points from the Nifty futures’ previous close.
In the previous session, the snapped its three-day losing run and ended sharply higher, with the Nifty 50 closing above 24,000 level.
The Sensex jumped 639.42 points, or 0.83%, to close at 77,303.63, while the Nifty 50 settled 194.75 points, or 0.81%, higher at 24,092.70.
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 24,500 then 24,100 strike, while maximum Put OI is at 24,000 then 23,500 strike.
“Call writing is seen at 24,100 then 24,300 strike, while Put writing is seen at 24,000 then 24,100 strike. Option data suggests a broader trading range in between 23,600 to 24,600 zones, while an immediate range between 23,800 to 24,300 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 index formed a bullish candle and an inside bar on the daily frame. Now, has to hold above 24,000 zones for an up move towards 24,250 then 24,400 zones, while supports are placed at 23,900 then 23,800 zones.
Bank Nifty Outlook
Bank Nifty index gained 174.55 points, or 0.31%, to close at 56,264.30 on Monday, forming a small bodied candle on daily scale as buying was visible at lower levels but momentum was missing at higher zones.
“Now, index has to hold above 56,000 zones for an up move towards 56,750 then 57,000 levels, while on the downside support is seen at 56,000 then 55,750 zones,” said Taparia.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 28 April 2026. Taparia recommends buying , and shares.
JSW Energy | Buy | Target Price: ₹608 | Stop Loss: ₹555
JSW Energy share price has broken out from a consolidation zone on the daily chart with a strong bodied bullish candle and high traded volumes. The RSI indicator is rising which confirms the bullish momentum, Taparia said.
He recommends buying JSW Energy shares for a target price of ₹608 apiece, while maintaining a stop loss at ₹555 level.
Sona BLW Precision | Buy | Target Price: ₹620 | Stop Loss: ₹570
Sona BLW Precision share price is retesting its breakout from a “Symmetrical Triangle” and is respecting its 50 DEMA. The MACD indicator is rising which confirms the price action.
Taparia suggests buying the stock at for a target price of ₹620, while keeping a stop loss of ₹570.
NMDC | Buy | Target Price: ₹96 | Stop Loss: ₹87.80
NMDC share price has formed a bullish “Pole and Flag” pattern suggesting a continuation of the uptrend. The ADX line is rising which confirms the strength of the uptrend, Taparia said.
He has a ‘Buy’ call on the stock and NMDC share price target of ₹96 apiece, and a stop loss of ₹87.80.
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.