Indian equities ended lower on Monday, 12 October, with the Nifty 50 declining 0.7% to close at 22,363.35 and the Sensex shedding 0.76% to settle at 71,924.68. According to reports from LiveMint, the decline followed Friday's recovery when both indices broke a 25-year record losing streak and rebounded from multi-year lows. However, the relief rally failed to sustain momentum, with early gains giving way to selling pressure on Monday as investors weighed the Reserve Bank of India's efforts to stabilise the rupee against persistent concerns over high crude oil prices and the prospect of a weaker monsoon. As of 12 October 2026, 15:40 IST, the NIFTY fair price stands at 22,340.10 with the ATM strike at 22,350 and a PCR (OI) of 0.60. The ATM straddle costs 150.40, pricing in a move of about ±0.7% (22,190 to 22,491) by expiry at an ATM IV of 16.1%.
Market analyst Chandan Taparia from Motilal Oswal Financial Services has recommended buying PNB Housing Finance and TVS Motor Company for tomorrow. As reported by LiveMint, Taparia has set a target price of ₹1,280 for PNB Housing Finance with a stop-loss of ₹1,160, and a target of ₹4,150 for TVS Motor Company with a stop-loss of ₹3,820. The recommendations are based on bullish technical indicators, improving price structures, and positive momentum in both stocks.
According to LiveMint reports, PNB Housing Finance is in an overall uptrend and trading near its 52-week high, highlighting sustained bullish momentum. The stock has formed a bullish candle and has been forming higher highs over the last four sessions, indicating consistent buying interest. The RSI is inching higher, currently at 64, reflecting strong momentum and further supporting the positive price structure.
As reported by LiveMint, TVS Motor Company is respecting its 200 DEMA and seeing a bounce from it, indicating buying interest at lower levels. The stock has negated its sequence of lower tops and lower bottoms, signalling an improvement in the overall price structure and a potential trend reversal. This technical pattern suggests a shift from previous bearish momentum to a more positive outlook.
According to Chandan Taparia from Motilal Oswal Financial Services, on the Nifty options front, the maximum call OI is at 22,600 then 22,500 strike, while the maximum put OI is at 22,300 then 22,000 strike. As reported by LiveMint, call writing is seen at 22,400 then 22,600 strike, while put writing is seen at 22,300 then 22,350 strike. The highest call open interest is at 22,600 and the highest put open interest at 22,000. Option data suggests a broader trading range between 21,900 and 22,800 zones, with an immediate range between 22,100 and 22,600 levels. The ATM straddle pricing in about ±0.7% move suggests market expectations of a range-bound movement between 22,190 to 22,491 by expiry.
