7 hrs ago
Laurus Labs, Indus Towers: Analyst Picks Amid Market Rout
Indian stock markets had a very difficult trading day.
The Sensex and Nifty both fell sharply.
Investors were worried about expensive crude oil, geopolitical tensions and weak markets around the world.
Many foreign investors were also selling Indian assets.
Chandan Taparia said the Nifty could remain weak below 22,800.
He recommended Laurus Labs and Indus Towers 27 October Futures for trading the next day.
His Laurus Labs plan had a target of ₹2,130 and a stop-loss of ₹1,950.
The article reports a target of ₹340 and a stop-loss of ₹372 for Indus Towers, even though its technical description highlighted bearish signals.
The Sensex fell 1,124.02 points, or 1.52%, to 72,771.72, while the Nifty declined 360.25 points, or 1.56%, to 22,780.25.
The sell-off was attributed to rising crude oil prices, geopolitical uncertainty, foreign fund outflows, higher US bond yields and weak Asian markets.
Chandan Taparia recommended buying Laurus Labs with a target of ₹2,130 and a stop-loss of ₹1,950.
Taparia also recommended buying Indus Towers 27 October Futures with a target of ₹340 and a reported stop-loss of ₹372.
Taparia said Nifty weakness could extend toward 22,650 and 22,500 while resistance was placed at 22,900 and 23,000.
- Who
- Indian stock-market investors and Chandan Taparia, Head of Derivatives and Technicals at Motilal Oswal Financial Services.
- What
- Taparia recommended Laurus Labs and Indus Towers 27 October Futures, while Indian benchmark indices suffered a broad sell-off.
- Where
- On India's BSE and NSE stock markets.
- When
- The market decline occurred on Monday, and the recommendations were for 29 September 2026.
- Why
- Rising crude oil prices, geopolitical uncertainty, foreign fund outflows, higher US bond yields and weak Asian markets weighed on sentiment.
Analyst Buy Calls
Bearish Market And Technical Signals
Laurus Labs
Analyst Buy Calls
Taparia recommended buying the stock, citing a strong uptrend, consolidation near its all-time high and buying interest around the 20 DEMA.
Bearish Market And Technical Signals
The broader market was under heavy selling pressure, creating a generally weak market backdrop despite Laurus Labs' reported relative strength.
Indus Towers
Analyst Buy Calls
Taparia listed Indus Towers 27 October Futures as a buy with a target of ₹340 and a reported stop-loss of ₹372.
Bearish Market And Technical Signals
The same analysis said the stock had broken below its two-month swing low near 365, formed a bearish candle and showed a bearish RSI crossover; the reported stop-loss is also above the stated target.
Nifty direction
Analyst Buy Calls
Taparia identified an immediate trading range of 22,600 to 23,000 and a broader range of 22,400 to 23,200.
Bearish Market And Technical Signals
He said the index had broken the 22,800 support zone and could fall toward 22,650 and 22,500 while remaining below 22,800.
Key facts
- Sensex close
- 72,771.72, down 1,124.02 points or 1.52%
- Nifty close
- 22,780.25, down 360.25 points or 1.56%
- Nifty market breadth
- 47 of 50 constituents closed lower and three closed higher
- Laurus Labs call
- Buy; target ₹2,130; stop-loss ₹1,950
- Indus Towers call
- Buy 27 October Futures; target ₹340; reported stop-loss ₹372
- Nifty support and resistance
- Below 22,800, weakness may extend toward 22,650 and 22,500; resistance was cited at 22,900 and 23,000
- Bank Nifty outlook
- Below 54,500, weakness may extend toward 54,000 and 53,750; resistance was cited at 54,750 and 55,000
Quotes
Chandan Taparia
Head of Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services
“Call writing is seen at 23,000 then 22,900 strike while Put writing is seen at 22,800 then 22,700 strike. Option data suggests a broader trading range in between 22,400 to 23,200 zones while an immediate range between 22,600 to 23,000 levels.”
livemint.com
“Now till it holds below 22,800 zones weakness could extend towards 22,650 then 22,500 levels while on the upside hurdles can be seen at 22,900 then 23,000 zones.”
livemint.com
Sources
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