The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to remain volatile on Tuesday amid mixed global market cues as investors remain cautiously optimistic about the US-Iran peace talks.
The equity market ended with nominal gains in the previous, and the benchmark Nifty 50 closed above 24,300 level.
The gained 26.76 points, or 0.03%, to close at 78,520.30, while the Nifty 50 settled 11.30 points, or 0.05%, higher at 24,364.85.
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 25,000 then 24,500 strike, while maximum Put OI is at 24,000 then 24,200 strike.
“Call writing is seen at 24,500 then 24,500 strike, while Put writing is seen at 24,400 then 24,300 strike. Option data suggests a broader trading range in between 23,800 to 24,800 zones, while an immediate range between 24,100 to 24,600 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 index formed a doji sort of candle on the daily frame and is hovering near its 50 DEMA.
“Now, has to continue to hold above 24,300 zones for an up move towards 24,500 then 24,700 zones, while support can be seen at 24,250 then 24,100 zones,” said Taparia.
Bank Nifty Outlook
Bank Nifty index rose 16.65 points, or 0.03%, to close at 56,582.35 on Monday, and formed a Doji sort of candle on the daily scale as buying interest was visible at lower levels but momentum is missing at higher zones.
“Now, index has to continue to hold above 56,500 zones for an up move towards 57,000 then 57,500 levels, while on the downside, support is seen at 56,250 then 56,000 levels,” Taparia added.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 21 April 2026. Taparia recommends buying (SBI), and shares.
SBI | Buy | Target Price: ₹1,175 | Stop Loss: ₹1,070
SBI share price is forming higher highs and is now on the verge of a rounding bottom breakout. The improving price structure reflects strengthening momentum. A sustained move above the breakout zone can lead to further upside traction, Taparia said.
He recommends buying SBI shares for a target price of ₹1,175 apiece, while maintaining a stop loss of ₹1,070.
JSW Steel | Buy | Target Price: ₹1,350 | Stop Loss: ₹1,235
JSW Steel share price has witnessed a sharp V-shaped recovery after the recent decline supported by strong volume. The stock is now inching towards its previous ATH zone near 1285, indicating potential breakout setup. Momentum indicators are positively aligned suggesting strength in the ongoing upmove.
Taparia has a ‘Buy’ call on JSW Steel shares, with a target price of ₹1,350 and a stop loss of ₹1,235.
Torrent Power | Buy | Target Price: ₹1,700 | Stop Loss: ₹1,555
Torrent Power share price is giving an inverse head and shoulders breakout on the weekly chart, indicating a strong trend reversal setup. The breakout is supported by steady buying interest and follow through strength Additionally, strength in the power sector is acting as a tailwind which can further support the upside move, said Taparia.
He suggests buying Torrent Power shares for a target price of ₹1,700 apiece, while keeping a a stop loss at ₹1,555 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.