The Indian stock market is expected to remain volatile on Friday as investors remain cautious amid weakness in global markets, weighed down by concerns over the escalating US-Iran war, rising crude oil prices and a selloff in semiconductor stocks. According to latest reports from Livemint, the Gift Nifty was trading around 24,084 level, a discount of nearly 12 points from the Nifty futures' previous close, indicating a flat start for the frontline indices. The domestic equity market ended flat in the previous session, with the benchmark Nifty 50 settling 5.75 points, or 0.02%, lower at 24,072.75, while the Sensex edged 1.44 points higher to close at 77,186.87.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd noted that the maximum Call Open Interest (OI) is at 24,200 then 24,100 strike, while maximum Put OI is at 24,000 then 24,100 strike. As reported by Livemint, "Call writing is seen at 24,150 then 24,100 strike, while Put writing is seen at 24,100 then 24,050 strike. Option data suggests a broader trading range in between 23,800 to 24,500 zones, while an immediate range between 23,900 to 24,300 levels." The Nifty 50 index formed a bearish candle along with an inside bar on the daily frame, indicating some rejection at higher levels, while support based buying intact at lower levels.
Bank Nifty index fell 175.60 points, or 0.30%, to close at 57,582.25 on Thursday, forming a small bearish candle on the daily scale with longer lower shadow as momentum is missing at higher zones but multiple supports are intact at lower levels. According to Livemint, "Now, the Bank Nifty index has to hold above 57,500 zones for a bounce towards 58,000 then 58,250 levels, while on the downside, support is seen at 57,250 then 57,000 zones." The index's performance reflects current market conditions and the need for key support levels to hold for any upward movement.
Chandan Taparia has recommended three stocks to buy today, 17 July 2026. As reported by Livemint, he recommends Sona BLW Precision Forgings shares for a target price of ₹720 apiece, with a stop loss at ₹663 level. The recommendation is based on Sona BLW's share price remaining in a strong uptrend forming a higher-high structure on the weekly chart and being on the verge of a breakout from its 10 session consolidation range. For Bharat Heavy Electricals Ltd (BHEL), he has a 'Buy' call with a target price of ₹460 and a stop loss of ₹420, noting that the stock has delivered a 35-session consolidation breakout above the ₹425 zone backed by strong volumes and has surpassed its all-time high. Dixon Technologies shares are recommended for a target price of ₹15,200 apiece, with a stop loss of ₹14,100, as the stock has formed a strong base near the ₹12,000 zones after recent correction and is trading comfortably above its short-term moving averages.
According to Livemint, Nifty 50 index formed a bearish candle along with an inside bar on the daily frame, indicating some rejection at higher levels, while support based buying intact at lower levels. "Now, Nifty 50 has to hold above 24,000 zones, for a bounce towards 24,250 then 24,400 zones, while support can be seen at 23,950 then 23,850 levels," Taparia stated. The index's technical positioning suggests potential for upward movement if key support levels are maintained, while current trading patterns indicate cautious optimism among market participants amid the ongoing market volatility.
