The Indian stock market is expected to open flat-to-positive on Friday, tracking steady global market cues. According to reports from LiveMint, the Gift Nifty was trading around 24,425.5 level, representing a premium of nearly 68 points from the Nifty futures' previous close. The domestic equity indices ended the previous session higher, with the Sensex gaining 273.55 points, or 0.35%, to close at 77,928.15, while the Nifty 50 settled 66.95 points, or 0.28%, higher at 24,317.15.
Chandan Taparia, Head Derivatives & Technicals, Wealth Management at Motilal Oswal Financial Services Ltd, provided key technical insights for Friday's trading. As reported by LiveMint, on the Nifty options front, the maximum Open Interest (OI) is at 24,600 then 24,500 strike, while maximum Put OI is at 24,200 then 24,000 strike. The Nifty 50 index formed a bullish candle on the daily frame and has been making higher highs – higher lows from the last four sessions. According to Taparia, the Nifty 50 index has to hold above 24,300 zones for an up move towards 24,500 then 24,600 zones, while support can be seen at 24,200 then 24,100 zones.
Bank Nifty index ended 58.40 points, or 0.10%, lower at 57,147.50 on Thursday, forming a small bodied candle on daily scale with long lower shadow, as reported by LiveMint. The buying interest is visible at lower levels, but momentum is missing at higher zones. Taparia noted that the Bank Nifty index has to hold above 57,000 zones for a bounce towards 57,500 then 57,750 levels, while on the downside, support is seen at 56,750 then 56,500 zones.
According to LiveMint reports, Chandan Taparia has recommended three stocks to buy today, July 31, 2026. The first recommendation is Sona BLW Precision Forgings with a target price of ₹800 and stop loss at ₹740. The second pick is Alkem Laboratories with a target price of ₹6,150 and stop loss of ₹5,650. The third recommendation is RBL Bank with a target price of ₹400 and stop loss of ₹366. As reported by LiveMint, these stocks are positioned for potential gains based on technical analysis and market trends.
