Stock market today: The domestic stock markets made further gains on Wednesday, March 25, starting on a positive note as investor optimism grew after news of a possible ceasefire between the United States and Iran.
At 11:01 IST, The Nifty 50 trades at 23,386.65, an increase of 474 points or 2.07%, while the BSE Sensex rose by 1,481 points or 2% at 75,570.85.
Even with the persistent volatility driven by uncertainty surrounding geopolitical issues, investors remained cautiously optimistic.
Crude oil prices showed indications of decreasing, with Brent crude falling by 4.78% to USD 99 per barrel, providing some relief to global markets.
In the commodities market, gold values made a notable rebound, climbing by 3.37% to hit ₹143,600 for every 10 grams of 24 karat gold. Silver values also rose by 4.82%, reaching ₹234,542 per kilogram.
Positive global indicators were evident as US futures and Asian markets advanced, fueled by hopeful speculation regarding a potential month-long ceasefire.
Market Outlook by Jay Thakkar, Vice President & Head of Derivatives and Quant Research, ICICI Securities
Nifty 50
Nifty 50 has closed in the positive territory in the last trading session after hitting the panic low below 22,500 levels. The Index had a positive weekly series; however, it couldn’t close above 23,000 levels indicating supply pressure at the higher levels. Now, the range for the Index is 22,450 to 23,500 until the gap area on the upside.
The India VIX has shot up quite a lot until 27 and over levels, however, it had fallen in yesterday’s trading session to almost 25 now which is a short-term relief. The IVs had inched to 34 which is 1-year highest levels and from there it has cooled off to 28 levels now indicating that there can be some pause in the markets after such a big decline. The further trend should be up until the recent lows of 22,400 is broken and on the upside, there can be a bounce until 23,500 levels.
Stocks To Buy in the near-term – Jay Thakkar
Jay Thakkar of ICICI Securities recommends Futures, Futures, and (IOC) Futures.
Buy Eternal futures in the range of ₹235-240 stop loss below ₹225 Targets ₹265-275
The stock has shown good resilience in the near term and there has been short covering as well. The stock has met the equality target on the lower side indicating that the minimum targets on the lower side are met. There has now been some put additions at the lower levels from 230-200 levels indicating that these well now act as support. The stock has closed above its max pain levels of 235 which is also a positive sign, hence one can go long in the short term.
Buy HCL Technologies futures in the range of ₹1,370-1,380 stop loss below ₹1,340 Targets ₹1,420-1,450
HCL Tech has provided a breakout from the sideways consolidation and with that there is a high possibility of a short covering in the near term. Overall, the IT stocks have fallen by almost 30% since the recent highs of 40000 and now with this steep fall the Index is likely to bounce back on account of short covering. There have been significant shorts built up and with a recovery in the market, a short covering move cannot be ruled out in this stock. There has been put additions at the lower levels from 130-1360 strikes and on the upside 1380 has the highest call base beyond which further short covering cant be ruled out.
Buy IOC Futures in the range of ₹136-140 stop loss below ₹130 Targets ₹150 and ₹156
There has been significant short built up in oil marketing stocks especially IOC, however, now the crude oil prices on international levels seems to have reversed for the 3rd time from near 120 levels indicating that there is a higher chance of short covering from the current levels. There is highest call base at 150 strike, hence that is the 1st target and beyond that 156, whereas, there has been put additions from 135-140 strikes, so they will provide support at the lower levels.
Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 24/03/2026 or have no other financial interest and do not have any material conflict of interest.
The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.