Archive · 2 Oct 2026
Laurus Labs, Canara Bank Among Top Short-Term Stock Calls
Indian stock markets had another difficult day and have now fallen for eight weeks in a row.
Foreign investors selling shares, expensive oil, and higher global interest rates affected market confidence.
The Indian rupee also weakened against the US dollar.
Chandan Taparia expects the Nifty 50 to remain volatile between important support and resistance levels.
He said the Nifty 50 may weaken toward 22,300 and 22,200 if it stays below 22,500.
He recommended Laurus Labs because it has remained strong despite the wider market decline.
He gave Laurus Labs a target of ₹2,100 and a stop-loss of ₹1,920.
He also recommended Canara Bank 27th October Futures, with the article listing a target of ₹111 and a stop-loss of ₹122.
Indian markets were closed on Friday, 2 October, for Gandhi Jayanti, with trading scheduled to resume on Monday, 5 October.
Indian equity markets fell on Thursday, with the Sensex down 0.79% and the Nifty 50 down 0.88%.
The benchmarks recorded an eighth consecutive weekly decline, their longest losing streak in 25 years, according to the article.
Chandan Taparia said the Nifty 50 could trade broadly between 22,000 and 22,800, with resistance near 22,500 and 22,650.
Taparia recommended buying Laurus Labs with a target of ₹2,100 and a stop-loss of ₹1,920.
Taparia also recommended Canara Bank 27th October Futures, listing a target of ₹111 and a stop-loss of ₹122.
- Who
- Chandan Taparia, Head of Derivatives & Technicals at Motilal Oswal Financial Services, issued the stock recommendations; Indian market investors and foreign portfolio investors were also involved in the market activity.
- What
- Taparia recommended short-term buying opportunities in Laurus Labs and Canara Bank 27th October Futures while outlining weak and volatile conditions for the Nifty 50 and Bank Nifty.
- When
- The market moves and recommendations were reported after Thursday's session; markets were scheduled to close on Friday, 2 October, and reopen on Monday, 5 October.
- Where
- The developments concerned India's equity, currency and debt markets.
- Why
- Foreign selling, crude oil prices near $100 a barrel and rising global bond yields weighed on sentiment, while Taparia based his stock calls on technical trends and price levels.
- Sensex close
- 71,909.70 after falling 0.79% on Thursday
- Nifty 50 close
- 22,421.95 after falling 0.88% on Thursday
- Weekly losing streak
- Eight consecutive weeks
- Rupee close
- ₹96.3150 per US dollar, down 0.5% and at a two-month low
- Laurus Labs call
- Buy; target ₹2,100; stop-loss ₹1,920
- Canara Bank call
- Buy 27th October Futures; target ₹111; stop-loss ₹122
- Nifty 50 trading range
- Broad range of 22,000–22,800; immediate range of 22,200–22,600