The Indian stock market is expected to open on a tepid note on Tuesday, following mixed global market cues and as sentiment remains cautious. The trends on Gift Nifty also signal a muted opening for the benchmark indices, Nifty 50 and Sensex.
In the previous session, the Indian stock market ended marginally higher amid subdued momentum.
The Sensex added 39.78 points, or 0.05%, to close to 83,978.49, while the Nifty 50 settled 41.25 points, or 0.16%, higher at 25,763.35.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd believes that the maximum Call Open Interest (OI) is at 26,000 then 25,800 strike, while maximum Put OI is at 25,700 then 25,750 strike.
“Call writing is seen at 25,800 then 25,750 strike, while Put writing is seen at 25,700 then 25,650 strike. Option data suggests a broader trading range in between 25,400 to 26,100 zones, while an immediate range between 25,600 to 26,000 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 index formed a bullish candle on a daily frame with a longer lower shadow, indicating strong buying at support zones.
“Nifty 50 continues to form lower highs – lower lows from the last three sessions but attempts of recovery from lower levels have helped the index float. Now, Nifty 50 has to cross and hold above 25,800 zones for momentum to build towards 25,950 then 26,100 zones, while support can be seen at 25,650 then 25,500 zones,” said Taparia.
Bank Nifty Outlook
Bank Nifty index ended 325.10 points, or 0.56%, higher at 58,101.45, forming a bullish candle on the daily scale and it is taking support near its 10 DEMA.
“The outperformance in the rate sensitive index continues led by buying interest visible in PSU banks. Now, Bank Nifty 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 58,000 then 57,750 zones,” said Taparia.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 4 November 2025. Taparia recommends buying Tata Consumer Products, Prestige Estate Projects and Multi Commodity Exchange of India (MCX) shares.
Tata Consumer Products | Buy | Target Price: ₹1,280 | Stop Loss: ₹1,155
Tata Consumer Products share price has given a range breakout with a large bodied bullish candle on the daily chart. The ADX line is rising which confirms the strength of the uptrend, Taparia said.
He recommends buying Tata Consumer Products shares for a target price of ₹1,280 apiece, while maintaining a stop loss at ₹1,155 level.
Prestige Estates Projects | Buy | Target Price: ₹1,940 | Stop Loss: ₹1,700
Prestige Estates Projects share price has formed a bullish “Pole & Flag” pattern on the daily chart suggesting a continuation of the uptrend. The RSI indicator is rising to confirm the bullish momentum.
Taparia has a ‘Buy’ rating on Prestige Estates Projects shares with a target price of ₹1,940 and a stop loss of ₹1,700 level.
MCX | Buy | Target Price: ₹10,000 | Stop Loss: ₹9,200
MCX share price has given a breakout from a weekly inside bar pattern suggesting an upward price action move. The MACD indicator is confirming the bullish momentum, Taparia said.
He suggests buying MCX shares for a target price of ₹10,000, while keeping a stop loss at ₹9,200 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.