The Indian stock market is expected to face volatility on Tuesday amid weak global market cues as global trade tensions escalated after US President Donald Trump’s announcement of tariffs on eight European countries over Greenland.
The trends on Gift Nifty also signal a flat start for the benchmark indices, Nifty 50 and Sensex today.
The equity market ended lower on Monday, with the Nifty 50 closing below 25,600 level.
The Sensex fell 324.17 points, or 0.39%, to close at 83,246.18, while the Nifty 50 settled 108.85 points, or 0.42%, lower at 25,585.50.
On the Nifty options front, Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd, said that the maximum Call Open Interest (OI) is at 25,800 then 25,700 strike, while maximum Put OI is at 25,500 then 25,600 strike.
“Call writing is seen at 25,600 then 25,650 strike while Put writing is seen at 25,500 then 25,600 strike. Option data suggests a broader trading range in between 25,200 to 26,000 zones, while an immediate range between 25,400 to 25,800 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 formed a small bodied candle on the daily frame with longer lower shadow indicating support based buying at lower levels.
“Now, if Nifty 50 manages to cross and hold above 25,650, bounce could be seen towards 25,700 then 25,850 marks, while support can be seen at 25,450 then 25,350 zones,” said Taparia.
Bank Nifty Outlook
Bank Nifty index declined 203.80 points, or 0.34%, to close at 59,891.35 on Monday, forming an Inside bar pattern on the daily scale as buying is visible at lower zones but momentum is missing at higher zones.
“Now, Bank Nifty index has to cross and hold above 60,000 zones for an up move towards 60,250 then 60,500 levels, while on the downside support is seen at 59,750 then 59,500 zones,” said Taparia.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 20 January 2026. Taparia recommends buying HCL Technologies, Federal Bank and Hindustan Unilever (HUL) shares.
HCL Technologies | Buy | Target Price: ₹1,800 | Stop Loss: ₹1,665
HCL Technologies share price has given a five week consolidation breakout with a strong bullish candle indicating fresh buying momentum. The stock continues to form higher highs and higher lows on the daily chart, reflecting trend continuation, while positive traction in the IT sector further supports the bullish outlook and increases the probability of further upside, Taparia said.
He recommends buying HCL Technologies shares for a target price of ₹1,800 apiece, while maintaining a stop loss of ₹1,665 level.
Federal Bank | Buy | Target Price: ₹295 | Stop Loss: ₹270
Federal Bank share price has recently negated its lower top–lower bottom structure and is now trading near its 52-week high territory, signalling a strong trend reversal. Federal Bank stock is firmly placed in a strong uptrend, with momentum indicators positively aligned, suggesting continuation of the bullish move in the near term.
Taparia has a ‘Buy’ call and Federal Bank share price target of ₹295 apiece, and a stop loss of ₹270 level.
HUL | Buy | Target Price: ₹2,540 | Stop Loss: ₹2,350
HUL share price is on the verge of a pole-and-flag breakout, indicating potential trend continuation. The stock has witnessed strong buying from lower levels backed by healthy volumes and is trading above all key short-term moving averages, keeping the near-term outlook positive, Taparia said.
He suggests buying HUL shares for a target price of ₹2,540 apiece, and a stop loss at ₹2,350 level.
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.
For today, January 20, 2026, Chandan Taparia, Head of Derivatives & Technicals at Motilal Oswal Financial Services, has recommended three specific stocks to buy.
His outlook for the day suggests that while the Nifty 50 has faced some volatility due to global trade tensions, it is showing signs of support-based buying at lower levels.
Chandan Taparia's Stock Recommendations
Taparia's picks for today are focused on technical breakouts and trend continuations in the IT, Banking, and FMCG sectors.
| Stock | Action | Target Price | Stop Loss | Technical Rationale |
| HCL Technologies | Buy | ₹1,800 | ₹1,665 | 5-week consolidation breakout; strong bullish candle. |
| Federal Bank | Buy | ₹295 | ₹270 | Negated lower top-lower bottom structure; trading near 52-week highs. |
| Hindustan Unilever (HUL) | Buy | ₹2,540 | ₹2,350 | Pole-and-flag pattern formation; trading above key moving averages. |
Market Outlook & Levels
Nifty 50: Taparia notes that the index needs to cross and hold above 25,650 to trigger a bounce toward 25,700 and 25,850. Immediate support is seen at the 25,450 – 25,350 zone.
Bank Nifty: The index is forming an "inside bar" pattern. It must hold above 60,000 for an upward move toward 60,250. Support is positioned at 59,750.
Note: These recommendations are based on technical analysis and derivative data. Market conditions can change rapidly, so it is advised to stick to the mentioned stop-loss levels to manage risk.
Would you like me to look up the latest quarterly results for any of these companies to see how the fundamentals align with these technical picks?
No comments:
Post a Comment