Indian Stock Market Poised for Positive Opening on Tuesday
The Indian stock market is expected to extend its recent rally and open on a positive note on Tuesday, driven by strong global market cues. The trends observed on Gift Nifty also indicate a higher start for the key domestic indices, the Nifty 50 and the Sensex, in today's trading session.
Previous Session Performance
In the previous trading session, the domestic equity indices closed with significant gains. The Nifty 50 index managed to close above the 25,850 level, marking a notable achievement. The Sensex surged by 485.35 points, or 0.58%, to settle at 84,065.75. Meanwhile, the Nifty 50 closed 173.60 points, or 0.68%, higher at 25,867.30.
Nifty 50 Options Analysis
Chandan Taparia, Head of Derivatives & Technicals at Motilal Oswal Financial Services Ltd, provided insights into the Nifty options data. He noted that the maximum Call Open Interest (OI) is concentrated at the 26,000 strike, followed by the 25,900 strike. On the Put side, the maximum OI is at the 25,800 strike, then the 25,700 strike.
Taparia further explained, "Call writing is observed at the 25,900 and then 26,000 strikes, while Put writing is seen at the 25,800 and 25,850 strikes. The option data suggests a broader trading range between 25,400 and 26,400 zones, with an immediate range likely between 25,600 and 26,100 levels."
Nifty 50 Technical Outlook
The Nifty 50 index formed a small-bodied candle with a longer lower shadow on the daily chart, which typically indicates buying interest at lower levels. Taparia highlighted that the index has negated the lower high – lower low structure observed over the last four sessions.
"Now, Nifty 50 needs to hold above the 25,700 zones to initiate an upward move towards 26,000 and then 26,200 zones. Support levels are identified at 25,700 and then 25,550 zones," he added.
Bank Nifty Performance and Outlook
The Bank Nifty index rallied by 548.80 points, or 0.91%, to close at 60,669.35 on Monday. It formed a small bearish-bodied candle on the daily scale with a lower wick and a slight upper wick, suggesting profit booking at higher levels while buying interest was evident near lower zones.
Taparia commented on the Bank Nifty outlook, stating, "As long as Bank Nifty holds above the 60,500 zones, strength is likely to rebuild towards 61,000 and then 61,250 levels. Supports are shifting higher to 60,500 and then 60,250 zones."
Stock Recommendations for Today
Chandan Taparia has recommended three stocks to buy on Tuesday, 10 February 2026. His picks include Shriram Finance, Sona BLW Precision Forgings, and Titan Company.
- Shriram Finance: Taparia recommends a Buy with a target price of ₹1,135 and a stop loss at ₹1,030. He notes that the share price has broken out from a bullish "Pole & Flag" pattern on the daily chart, supported by a strong-bodied candle at its all-time high zones. The MACD indicator has given a bullish crossover, confirming positive momentum.
- Sona BLW Precision Forgings: A Buy recommendation with a target price of ₹575 and a stop loss at ₹505. The share price is retesting its breakout from a "Symmetrical Triangle" pattern with higher-than-average traded volumes. The rising RSI indicator confirms the upward movement.
- Titan Company: Taparia suggests a Buy with a target price of ₹4,475 and a stop loss at ₹4,140. The share price has bounced up from its 100 DEMA support zones and is moving upward with high volumes. The ADX line has turned up, and the positive DI is above the negative DI, confirming a bullish trend.
Disclaimer: The views and recommendations provided are those of individual analysts or broking companies and do not represent the stance of Mint. Investors are advised to consult certified experts before making any investment decisions.
