The Indian stock market extended decline on Friday, dragged by selling in banks, financials, FMCG and pharma stocks amid mixed global market cues. The benchmark Sensex dropped more than 300 points, while the Nifty 50 slipped near 25,000 level.
Axis Bank, SBI Life Insurance, Tech Mahindra, Kotak Mahindra Bank, Bharti Airtel, Bharat Electronics (BEL) were among the top losers among Nifty 50 constituents.
In the previous session, the equity market indices ended lower, and the benchmark Nifty 50 closed below 25,200 level. The Sensex dropped 375.24 points, or 0.45%, to close at 82,259.24, while the Nifty 50 settled 100.60 points, or 0.40%, lower at 25,111.45, on Thursday.
On the Nifty 50 options front, Chandan Taparia, Head – Derivatives and Technicals, Wealth Management, MOFSL, said that the maximum Call OI (Open Interest) is at 25,200 then 25,500 strike while maximum Put OI is at 25,000 then 25,200 strike.
“Call writing is seen at 25,200 then 25,500 strike, while Put writing is seen at 25,200 then 25,100 strike. Option data suggests a broader trading range in between 24,600 to 25,600 zones, while an immediate range between 24,900 to 25,300 levels,” Taparia said.
Nifty 50 Outlook
Nifty 50 formed a bearish belt hold sort of a candle on a daily frame and negated the higher highs – higher lows of the last two sessions. Now, till the index holds below 25,150 zones, weakness could be seen towards 25,000 then 24,800 zones, while hurdles are placed at 25,250 then 25,350 zones.
Bank Nifty Outlook
Bank Nifty formed a Bearish candle on daily scale on Thursday as selling pressure was seen at higher zones. The rate sensitive index has got stuck in a range of 800 points from the last ten sessions as multiple supports are intact at lower levels but selling pressure is seen at higher zones.
Now, Taparia believes, till Bank Nifty index holds below 57,000 zones some weakness could be seen towards 56,500 then 56,250 levels, while on the upside, hurdle is seen at 57,000 then 57,250 zones.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 18 July 2025. Taparia recommends buying CG Power and Industrial Solutions, Prestige Estates Projects and Delhivery shares today.
CG Power | Buy | Target Price: ₹730 | Stop Loss: ₹670
CG Power share price has given a breakout from a consolidation zone on the daily chart, supported by a strong-bodied bullish candle, signalling renewed buying interest. The MACD indicator has provided a bullish crossover, confirming the emergence of positive momentum, Taparia said.
He recommends buying CG Power shares for a target price of ₹730, with a stop loss at ₹670 level.
Prestige Estates Projects | Buy | Target Price: ₹1,960 | Stop Loss: ₹1,700
Prestige Estates share price has broken out of a well-defined range on the daily chart, accompanied by a bullish marubozu candle, which indicates strong conviction among buyers. The stock continues to respect its 50-day exponential moving average, with dips being actively bought. The RSI is positively positioned, further reinforcing the bullish outlook, said Taparia.
He has a ‘Buy’ call on Prestige Estates shares for a target price of ₹1,960 apiece, and suggests keeping a stop loss at ₹1,700 level.
Delhivery | Buy | Target Price: ₹460 | Stop Loss: ₹410
Delhivery share price has formed a bullish pole and flag pattern on the daily chart, typically a continuation formation suggesting further upside. Delhivery stock is holding well above its 20-day exponential moving average, with minor corrections being bought into. A rising ADX line confirms strength in the ongoing uptrend, Taparia said.
He recommends buying the stock and has Delhivery share price target of ₹460 apiece, while maintaining a stop loss of ₹410.
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.
About The Author
