The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open flat on Tuesday, 28 July, in line with weak global market cues.
By 8:14 AM, the Gift Nifty was trading around the 23,963.5 level, a discount of 64.5 points from the Nifty futures’ previous close of 24,028.
The domestic equity indices ended the previous session with strong gains, led by healthy across-segment buying, as the benchmarks jumped 1% each, snapping their five-day losing streak.
The Sensex surged 776.01 points, or 1.02%, to close at 76,835.78, while the Nifty 50 settled 228.50 points, or 0.96%, higher at 23,995.95.
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 24,000 then 24,200 strike, while the maximum Put OI is at 24,000 then 23,900 strike. Call writing is seen at 24,000 then 24,100 strike, while Put writing is seen at 23,900 then 24,000 strike.
“Option data suggests a broader trading range between 23,600 and 24,400 zones, while an immediate range between 23,800 and 24,200 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 index formed a bullish candle on the daily frame and is forming higher highs – higher lows over the last two trading sessions.
“Now, Nifty 50 needs to hold above 24,000 zones for an up move towards 24,200 then 24,300 zones, while support can be seen at 23,900 then 23,800 zones,” said Taparia.
Bank Nifty Outlook
Bank Nifty index ended 393.70 points, or 0.69%, higher at 57,087.20 on Monday, forming a Doji candle on daily scale.
“Bank Nifty negated the formation of lower highs after four sessions as buying is visible at lower levels. Now, the index has to hold above 57,000 zones for a bounce towards 57,500 then 57,750 levels, while on the downside, support is seen at 56,750 then 56,500 zones,” said Taparia.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 28 July 2026. Taparia recommends buying Samvardhana Motherson International, Lodha Developers, and Cholamandalam Investment and Finance Company shares.
Samvardhana Motherson | Buy | Target Price: ₹157 | Stop Loss: ₹144
Samvardhana Motherson International share price has bounced up from its 50 DEMA support zones with high traded volumes. The MACD indicator has given a bullish crossover to confirm the positive momentum, said Taparia.
He recommends buying Samvardhana Motherson shares for a target price of ₹157 apiece, while maintaining a stop loss at ₹144 level.
Lodha Developers | Buy | Target Price: ₹1,270 | Stop Loss: ₹1,160
Lodha Developers share price has formed a bullish “Pole and Flag” pattern, suggesting a continuation of the uptrend. The ADX line is rising, which suggests the Bullish trend has strength to support it.
Taparia has a ‘Buy’ call on the stock with Lodha Developers share price target of ₹1,270 and a stop loss of ₹1,160.
Cholamandalam Investment | Buy | Target Price: ₹1,900 | Stop Loss: ₹1,730
Cholamandalam Investment and Finance Company share price is retesting its breakout from a consolidation zone with a strong-bodied bullish candle. It is respecting its 100 DEMA support zones. The RSI momentum indicator is positively placed, which has bullish implications, said Taparia.
He suggests buying Cholamandalam Investment shares for a target price of ₹1,900 and keeping a stop loss of ₹1,730.
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.
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