News

Market Outlook: Indian Stocks Set to Surge on Global Positive Sentiment with Key Trading Strategies for Tuesday

February 12, 2025
Smart Money

Indian Market Anticipates Positive Opening on Tuesday

The Indian stock market is poised for a higher opening on Tuesday, influenced by favorable global cues. This optimistic outlook follows a modest dip in Nifty futures on Monday, which closed down by 0.67% at 23,457 points. Meanwhile, the India VIX, a key measure of market volatility, experienced a notable increase of over 5%, finishing at 14.44.

Market Overview

Nifty futures showed a decline in the previous trading session, but underlying indicators suggest a potential rebound. Options data reveals that the maximum Call open interest (OI) is positioned at the 24,000 strike, closely followed by 25,000. On the other hand, the maximum Put OI is located at 22,500, hinting at a broader trading corridor for the upcoming days.

Chandan Taparia, an analyst with Motilal Oswal Financial Services Limited, noted that the current options data indicates a wider trading range expected between 22,800 and 23,800. For immediate short-term movements, Taparia identified the trading zone between 23,200 and 23,600 levels as critical.

He elaborated that while a bearish candle was formed on Monday’s daily chart, the longer lower shadow exhibited potential recovery from key support levels. Taparia recommended that the Nifty must hold above 23,450 for a measured uptrend towards 23,550 and eventually 23,700, setting supports at 23,250 and 23,100.

Stock Recommendations

A selection of stocks has been curated by various market experts for traders looking at short-term trading opportunities:

  • Ajit Mishra, SVP – Technical Research at Religare Broking Ltd:
  • Bharti Airtel: Buy with a target of ₹1,780 and a stop loss at ₹1,650.
  • Wipro: Buy targeting ₹334 with a stop loss at ₹312.
  • DLF: Sell with a target price of ₹695 and a stop loss set at ₹752.
  • LIC Housing Finance: Sell aiming for ₹544 with a stop loss of ₹574.
  • Nooresh Merani, Independent Technical Analyst:
  • Bajaj Finance: Buy, expecting a target of ₹8,700 with a stop loss at ₹8,100.
  • State Bank of India (SBI): Buy, targeting ₹770 with a stop loss at ₹725.
  • United Breweries Limited (UBL): Buy with a target of ₹2,180 and a stop loss at ₹2,020.
  • Kunal Bothra, Market Expert:
  • Kotak Mahindra Bank: Buy targeting ₹2,020 with a stop loss at ₹1,925.
  • Berger Paints: Buy with a target of ₹500 and a stop loss at ₹470.
  • Uno Minda: Buy, selecting a target of ₹1,120 with a stop loss of ₹1,036.

Conclusion

As traders and investors assess the market landscape, the insights from experts will be crucial for strategizing their next steps. With the Indian market looking to open higher amidst supportive global trends, attention will also be on key levels of Nifty for signals of a sustained rally.

Disclaimer: The recommendations and opinions provided by experts reflect their personal assessments and do not constitute financial advice.

Stay updated with the latest market developments and stock tips by following Smart Money Mindset.