The Indian stock market is expected to remain volatile on Friday amid cautious sentiment and mixed global market cues. The trends on Gift Nifty signal a mildly positive start for the benchmark indices, Nifty 50 and Sensex today.
The equity market ended with sharp losses in the previous session, and the benchmark Nifty 50 slipped below 25,900 level.
The plunged 592.67 points, or 0.70%, to close at 84,404.46, while the Nifty 50 settled 176.05 points, or 0.68%, lower at 25,877.85.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services believes maximum Call OI (Open Interest) is at 26,000 then 26,100 strike, while maximum Put OI is at 25,900 then 25,500 strike.
“Call writing is seen at 26,000 then 25,900 strike, while Put writing is seen at 25,900 then 25,950 strike. Option data suggests a broader trading range in between 25,400 to 26,300 zones, while an immediate range between 25,600 to 26,100 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 formed a bearish candle on the daily frame and broke its higher high formation of the last three sessions. Now, has to cross and hold above 25,900 zones to again regain strength towards 26,100 then 26,277 zones, while support can be seen at 25,700 then 25,600 zones, Taparia said.
Bank Nifty Outlook
Bank Nifty index ended 354.15 points, or 0.61%, lower at 58,031.10 on Thursday, and formed a small bodied candle on daily scale as momentum was missing at higher zones but multiple supports are intact at lower levels.
“The rate sensitive index is consolidating in a wider range of 700 points from the last few sessions as momentum is missing on either side. Now, it has to hold above 58,000 zones for an up move towards 58,350 then 58,577 levels, while on the downside, support is seen at 57,750 then 57,500 zones,” Taparia said.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 31 October 2025. Taparia recommends buying (BPCL), (HUDCO) and NBCC (India) shares.
BPCL | Buy | Target Price: ₹385 | Stop Loss: ₹345
BPCL share price has broken out from a consolidation zone on the daily chart with higher than average traded volumes. The MACD indicator has given a bullish crossover which confirms the positive momentum, Taparia said.
He recommends buying BPCL shares for a target price of ₹385, while maintaining a stop loss at ₹345 level.
HUDCO | Buy | Target Price: ₹255 | Stop Loss: ₹230
HUDCO share price has given a breakout from a falling supply trendline on the daily chart with a large bodied bullish candle. The RSI momentum indicator is rising to support the upwards momentum.
Taparia has a ‘Buy’ call on HUDCO shares for a target price of ₹255, and a stop loss of ₹230 level.
NBCC | Buy | Target Price: ₹125 | Stop Loss: ₹114
NBCC share price has breached above its resistance zones on the daily chart and bounced up from its 50 DEMA. The RSI indicator is rising which confirms the bullish momentum.
Taparia suggests buying shares for a target price of ₹125, and keeping and stop loss at ₹114 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.