Market sentiment remains cautiously positive despite weak global cues. While GIFT Nifty indicates a softer opening, strong FII buying, higher put writing, and call unwinding in the derivatives market suggest that traders continue to accumulate on dips.

• GIFT Nifty traded lower, indicating a weak start for Indian equities.
• US markets closed marginally lower amid geopolitical uncertainty.
• Investors continue to monitor developments related to Iran and the Strait of Hormuz.
• US futures remained largely stable despite cautious sentiment.
• Intel announced plans for a $15 billion stock offering.
• Nvidia is reportedly arranging nearly $500 billion in financing initiatives tied to AI expansion.
• OpenAI completed a $7 billion share sale ahead of a potential future IPO.
• Anthropic signed a cloud deal reportedly worth $9 billion.

• Max Pain: 24,600
• PCR: 0.85
• Major Call OI: 24,600 Strike
• Major Put OI: 24,500 Strike
• VWAP Range: 24,515 – 24,690

Derivative Sentiment: Higher put writing combined with call unwinding indicates a mildly bullish undertone. Traders appear willing to defend lower levels while aggressive call sellers are reducing positions.

• FIIs bought equities worth ₹1,974.76 crore.
• DIIs sold equities worth ₹1,290.29 crore.
• FII index futures positioning remained mixed with continued short additions in Nifty and Bank Nifty.

Bharat Forge

• Citi: SELL | Target ₹1,210
• InCred: HOLD | Target ₹2,103
• Goldman Sachs: NEUTRAL | Target ₹2,120
• MOSL: NEUTRAL | Target ₹1,931

Info Edge

• Macquarie: NEUTRAL | Target ₹1,000
• Citi: ACCUMULATE | Target ₹1,510

Zee Entertainment

• MOSL: NEUTRAL | Target ₹100
• CLSA: OUTPERFORM | Target ₹125

Other Key Calls

• Entero Healthcare: Jefferies ACCUMULATE | Target ₹1,800
• Fractal Analytics: Kotak Securities ACCUMULATE | Target ₹1,000
• Afcons Infrastructure: Jefferies HOLD | Target ₹290
• Lemon Tree Hotels: Macquarie OUTPERFORM | Target ₹180

Metal and mining stocks may remain in focus after Morgan Stanley indicated a positive outlook if the proposed MMDR Amendment Bill 2026 is passed. The amendment could reduce uncertainty around state-level mineral levies and improve visibility for mining and cement companies.

Indian-Share-Tips.com Nifty Expert Gulshan Khera, CFP®, who is also a SEBI Regd Investment Adviser, observes that despite weak global cues, domestic derivatives positioning remains relatively constructive. The 24,500 zone remains an important support area, while 24,600–24,700 continues to be the immediate resistance zone. Traders should closely monitor institutional flows and option activity for directional confirmation.

SEBI Disclaimer: Investments in securities markets are subject to market risks. Read all related documents carefully before investing. This article is for educational and informational purposes only and should not be construed as investment advice or a recommendation to buy or sell any security.

Written by Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.