The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a cautious note on Tuesday, tracking a mixed trend in global markets, as renewed US-Iran war tensions and surging crude oil prices continue to dent risk-appetite.
The trends on Gift Nifty signal a mildly positive start for the benchmark indices, Nifty 50 and Sensex today.
The Nifty 50 index formed a bullish candle on the daily chart on Friday but continues to form lower highs from the last six sessions. It formed a bearish candle on the weekly scale and continues to form lower highs - lower lows indicating that the broader trend remains under pressure.
According to Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd, Nifty 50 has to cross and hold above 23,500 zones for an up move towards 23,600 then 23,700 zones, while a hold below the same could see weakness towards 23,300 then 23,200 zones.
“On option front, maximum Call Open Interest (OI) is at 23,500 then 24,000 strike, while maximum Put OI is at 23,300 then 23,200 strike. Call writing is seen at 23,400 then 23,300 strike, while Put writing is seen at 23,300 then 23,250 strike,” Taparia said.
Option data suggests a broader trading range in between 23,000 to 23,900 zones, while an immediate range between 23,200 to 24,700 levels, he added.
Bank Nifty Outlook
Bank Nifty index formed a strong bullish candle on daily scale as good buying interest was visible at lower levels and relatively outperformed the benchmark index.
“The banking index formed a small bearish candle on the weekly scale with longer lower shadow as multiple supports are intact at lower levels but momentum is missing at higher zones. Now, it has to hold above 56,500 zones for a bounce towards 57,000 then 57,250 levels, while on the downside support is seen at 56,250 then 56,000 zones,” said Taparia.
Stocks To Buy Today
Chandan Taparia has recommended four stocks to buy today, 15 September 2026. These stock picks are TD Power Systems, VA Tech Wabag, Laurus Labs and One 97 Communications (Paytm) shares.
TD Power Systems | Buy | Target Price: Rs 850 | Stop Loss: Rs 780
TD Power Systems share price has given a consolidation breakout above the Rs 800 level from a range formed over the last four weeks and is now trading in all-time high territory, indicating strong bullish momentum. It has also formed a bullish candle, while the RSI has given a bullish crossover. Sustaining above the breakout zone could support continuation of the uptrend and further upside, said Taparia.
He recommends buying TD Power Systems shares for a target price of Rs 850 apiece, while maintaining a stop loss at Rs 780 level.
VA Tech Wabag | Buy | Target Price: Rs 2,400 | Stop Loss: Rs 2,200
VA Tech Wabag share price has given a cup-and-handle breakout and is sustaining well above the breakout zone, indicating continued buying interest. Volumes have picked up over the last few sessions, supporting the strength of the breakout.
According to Taparia, sustaining above the Rs 2,250 zone could trigger a strong upmove and lead to further acceleration in momentum.
He suggests buying VA Tech Wabag shares for a target price of Rs 2,400 and keeping a stop loss of Rs 2,200 level.
Laurus Labs | Buy | Target Price: Rs 2,080 | Stop Loss: Rs 1,910
Laurus Labs stock price is in a strong uptrend and continues to respect its 20 DEMA, indicating sustained buying interest on dips. It has given a fresh inside-bar breakout at all-time high levels, highlighting strong bullish momentum, said Taparia.
The continued strength in the Nifty Pharma index further provides a supportive backdrop for the stock's uptrend and potential for further upside, he added.
He has a ‘Buy' rating on Laurus Labs shares with a target price of Rs 2,080 and a stop loss of Rs 1,910.
Paytm | Buy | Target Price: Rs 1,915 | Stop Loss: Rs 1,755
Paytm share price has given a range breakout above the Rs 1,750 zone and is holding well above the breakout level, indicating sustained buying interest.
According to Taparia, declines are consistently being bought into, highlighting clear relative outperformance compared to the broader market. Momentum indicators are positively placed, further supporting the bullish setup and potential for continued upside.
He has a ‘Buy' call on Paytm shares with a target price of Rs 1,915 apiece, and a stop loss of Rs 1,755.
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