The Indian stock market is poised for a subdued opening on Tuesday, mirroring mixed signals from global peers. Trends from Gift Nifty futures indicate a flat start for the benchmark indices, the Nifty 50 and the BSE Sensex, following a session of marginal losses on Monday.
Market Recap and Key Levels
In the previous trading session, the domestic equity market retreated from record highs to end slightly in the red. The Sensex declined by 64.77 points, or 0.08%, settling at 85,641.90. Meanwhile, the Nifty 50 dropped 27.20 points, or 0.10%, to close at 26,175.75, slipping below the 26,200 mark after touching a fresh peak earlier in the day.
Chandan Taparia, Head of Derivatives and Technicals at Motilal Oswal Financial Services, provided insights based on options data. He noted that the maximum Call Open Interest is positioned at the 26,300 and 26,200 strikes, while the maximum Put Open Interest rests at the 26,000 and 26,100 strikes. "Call writing is seen at 26,300 then 26,200 strike, while Put writing is seen at 26,150 then 26,100 strike," Taparia observed. This activity suggests a broader trading range of 25,700 to 26,600, with an immediate range between 26,000 and 26,400 levels.
Technical Outlook for Nifty 50 and Bank Nifty
On the daily chart, the Nifty 50 formed a pattern resembling a bearish belt hold candlestick, indicating an inability to surpass its opening highs. Taparia stated that the index must hold above the 26,100 zone to extend momentum towards 26,250 and then 26,325 levels. Supports have shifted higher to 26,100 and 26,000.
The Bank Nifty index also witnessed a dip, closing at 59,681.35 after a fall of 71.35 points or 0.12%. It formed a bearish candle on the daily scale, hinting at profit booking at higher levels, though the broader trend remains positive with a 'buy on dips' approach. For an upward move towards 60,000 and 60,114 marks, the index needs to hold above 59,500. Key downside supports are placed at 59,500 and 59,250 levels.
Stocks to Buy: Analyst Recommendations
Chandan Taparia has recommended three stocks for consideration on Tuesday, December 2, 2025.
City Union Bank: Taparia recommends a 'Buy' with a target price of ₹310 and a stop loss of ₹270. The stock has formed a bullish Pennant Pattern on the daily chart, signaling a continuation of the uptrend, supported by a rising ADX line confirming trend strength.
Indian Energy Exchange (IEX): The recommendation is to 'Buy' for a target of ₹158, with a stop loss at ₹141. The IEX share price has broken out from a Descending Triangle pattern on the daily chart, accompanied by higher-than-average volumes. The positively placed RSI indicator adds to the bullish outlook.
One 97 Communications (Paytm): Taparia suggests a 'Buy' on Paytm shares with a target price of ₹1,470 and a stop loss of ₹1,320. The stock has experienced a range breakout with a strong bullish candle on the daily chart, is respecting its 50-day Exponential Moving Average support, and shows a rising MACD indicator confirming positive momentum.
Disclaimer: The views and recommendations above are those of individual analysts and not of Mint. Investors are advised to consult certified experts before making any investment decisions.
