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Stock market today: Indian equity benchmarks edged higher on Monday, closing at their highest levels in more than eight months, as markets showed signs of consolidation following last week's rally, which was driven by easing crude oil prices and optimism over foreign inflows.
Brent crude futures fell 1% to around $97 per barrel after US President Donald Trump said he was highly unlikely to order fresh strikes on Iran as negotiations to end the conflict continue.
The Nifty 50 gained 0.23% to close at 25,044.65, while the Sensex rose 0.13% to 81,106.65. Both indices settled at their highest levels since 27 February 2026.
Indian stock markets will remain closed on Tuesday for Diwali and resume trading on Wednesday.
Chandan Taparia, Head of Derivatives & Technicals, Wealth Management at Motilal Oswal Financial Services, has recommended buying shares of Union Bank of India, Ather Energy and Laurus Labs. He has set a target price of ₹208 for Union Bank of India, with a stop loss of ₹191. For Ather Energy, the analyst has recommended a target of ₹1,970 and a stop loss of ₹1,800, while Laurus Labs has a target price of ₹2,600 and a stop loss of ₹2,380.
On the Nifty options front, Chandan Taparia, said the maximum call OI is at 25,000 then 25,500 strike while maximum put OI is at 25,000 then 24,500 strike.
“Call writing is seen at 25,000 then 25,500 strike while put writing is seen at 25,000 then 24,900 strike. Option data suggests a broader trading range in between 24,700 to 25,400 zones while an immediate range between 24,900 to 25,200 levels,” said Taparia.
Nifty 50 index opened on a positive note but remained rangebound with volatile swings on either side throughout the session. Support-based buying was evident at lower levels, helping the index sustain above its key support zones as it closed on a flattish note just above the psychological 25K mark. It formed a hammer-like candle on the daily frame, reflecting resilience at lower levels.
“Now it has to hold above 25,000 zones for an up move towards 25,200 then 25,300 zones while supports have shifted higher to 24,900 then 24,800 zones,” the MOFSL analyst added.
The Bank Nifty index opened with a gap-up and witnessed some pressure during the initial hour of the session, which dragged the index below the 58,900 zone. Later volatile swings were seen, but the index managed to recover and ended the session on a positive note near its day's high. It formed a strong bullish candle on the daily scale with a slightly lower wick indicating buying interest at lower levels and sustained strength in the index.
“Now it has to hold above 59,500 zones for an up move towards 60,000, then 60,500 levels, while support is seen shifting higher to 59,500, then 59,250 zones, ”said Taparia.
Chandan Taparia has recommended three stocks to buy this week. Taparia recommends buying Union Bank of India, Ather Energy, and Laurus Labs shares.
The stock has formed a strong bullish Marubozu candle with notable volumes indicating strong buying interest. It has also formed an inverse head-and-shoulders breakout and closed comfortably above its neckline, signalling a potential continuation of the uptrend. The RSI is inching higher, further supporting the positive momentum. The broader strength across PSU banks could provide additional support to the stock and help sustain the ongoing rally.
The stock is in an overall uptrend and trading at an all-time high, highlighting strong bullish momentum. It has been consolidating within a narrow range over the last four sessions and is now on the verge of a fresh breakout from the range. A decisive move above the 1880 level could trigger the next leg of the bullish rally and support further upside.
The stock successfully retested its previous breakout zone and formed a strong base around the 2250 level before resuming its uptrend. It reached a new all-time high today and continues to hold firmly on its upward trajectory, indicating sustained buying interest. It has also formed a bullish candle and closed above its previous swing high of 2440, highlighting strong bullish momentum and the potential for further upside.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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