The Indian stock market is expected to open lower on Tuesday, 11 August, tracking mixed global cues. According to latest reports from LiveMint, the Gift Nifty was trading around 24,614 level, representing a discount of nearly 46 points from the Nifty futures' previous close. The domestic equity indices ended flat in the previous session, with the benchmark Nifty 50 closing below 24,600 level. The Sensex gained 43.27 points, or 0.06%, to close at 78,542.44, while the Nifty 50 settled 13.15 points, or 0.05%, higher at 24,583.80.
On the Nifty options front, Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd, provided key insights on market positioning. As reported by LiveMint, the maximum Call Open Interest (OI) is at 24,600 then 24,700 strike, while the maximum Put OI is at 24,500 then 24,400 strike. Call writing is seen at 24,600 then 24,900 strike, while Put writing is seen at 24,500 then 24,550 strike. Option data suggests a broader trading range between 24,200 and 24,800 zones, while an immediate range between 24,300 and 24,600 levels.
The Nifty 50 index opened on a flattish note and broke the crucial 24,500 level in the first hour and sustained below it for the entire trading session. It witnessed short-term profit booking as the index failed to sustain at higher levels, forming a bearish candle on the daily frame and closing below the lows of the last four trading sessions. According to LiveMint analysis, Nifty 50 has to cross and hold above 24,500 zones for an up move towards 24,650 then 24,750 zones, while support can be seen at 24,350 then 24,250 zones. The index has to cross and hold above the 24,500 zone for an up move towards 24,650, then 24,750, while support can be seen at 24,350, followed by 24,250.
Bank Nifty index opened marginally lower and drifted towards 57,150 in the initial hour of the session. However, a gradual recovery was seen towards 57,500 levels, but it failed to hold at higher levels in the latter part of the session. It formed a bearish candle on the daily scale with a longer lower shadow, as selling pressure is seen at higher zones, and it is holding below its 20 DEMA. Now, till it holds below 57,500, weakness could be seen towards 57,000 then 56,750 levels, while on the upside, a hurdle is seen at 57,750 and 58,000 levels.
Chandan Taparia has recommended three stocks to buy today, 11 August 2026. According to LiveMint analysis, Divi's Laboratories shares are recommended for a target price of ₹9,000 with a stop-loss at ₹8,350, as the stock is in an overall uptrend and continuously forming higher highs and higher lows on a larger time frame, having given Pole & Pennant breakout on the daily chart with positive MACD momentum. MCX is suggested for a target price of ₹3,100 with a stop-loss of ₹2,800, as the stock has given a falling supply trend line breakout and is holding well above the same, supported by surge in volumes and negated the lower top-lower bottom of the previous four weeks. Eternal receives a 'Buy' call with a target price of ₹335 and stop-loss of ₹308, as the stock is witnessing buying from the 10 EMA with small dips getting bought and RSI has given a bullish crossover, supporting the positive setup.
