F&O Strategy: Buy Balrampur Chini, V-Guard and Ipca Lab, suggests Rupak De in a weak stock market today - 1 April 2025

Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, experienced significant selling pressure as they opened on Tuesday, with both indices declining due to the tariff threat set for April 2.

At 11:05 IST, the Nifty 50 index dropped by 290.10 points, or 1.23 percent, reaching 23,229.25, while the Sensex was at 76,252.98, reflecting a decrease of 1,161.94 points, or 1.50 percent.

Analysts noted that the tariff announcement from Trump on April 2 is currently the key event. While the markets have already taken the potential effects into account, the initial reality may appear worse, followed by improvements as concessions and exclusions are revealed.

On the F&O segment, according to experts, Nifty 50 spot closed at 23,519 this week, against a close of at 23,350.40 last week. The Put-Call Ratio has slightly decreased from 1.16 to 0.92 on a weekly basis. The Open Interest of Nifty 50 Futures decreased by 22.61%. On the derivatives front, exoerts witnessed open interest resuction in Nifty 50 as well as banking index mainly due to expiry week. For the upcoming weekly expiry, fresh writing emerged in the 23,600-23,700 call options, while a strong buildup persists at the 23,500 put strike.

Technical views by Rupak De, Senior Technical Analyst, LKP Securities on F&O market:

Nifty 50

The Nifty 50 witnessed volatility on the first day of the new series before ending on a weaker note. After reaching a high near the previous swing level of 23,800, the index has been consolidating.

Looking ahead, 23,400 may serve as immediate support. A breakdown below this level could push Nifty 50 towards 23,200, where key support is positioned. On the higher end, resistance is placed at 23,660, above which a decent upside looks possible.

Open Interest Analysis: Significant open interest additions were observed in 24,500CE, while on the put side, 23,500 saw a decent increase in open interest. The maximum call writing was seen at the 24,000 strike, whereas substantial put writing was evident at 23,500, indicating strong support at this level.

Strategy: Sentiment is likely to weaken below 23,500.

Trade: Buy Nifty 50 3 Apr 23,500PE ABOVE 100 TGT 150 SL 74.

Buy Balrampur Chini Mills Ltd at ₹547.50; TGT ₹570; SL 535

Balrampur Chini Mills share price has given a consolidation breakout on the daily timeframe, suggesting a rise in optimism. On the higher end, it might move towards 570, as the bullish view is supported by a rise in price above a critical moving average, with the RSI in a bullish crossover. Support on the lower end is placed at 535.

Buy V-Guard Industries Ltd at ₹355.60; TGT ₹380; SL ₹345

A bullish engulfing pattern is visible after a brief correction, suggesting a resumption of the uptrend. Additionally, the V-Guard Industries share price has been sustaining above the critical moving average. The RSI is in a bullish crossover and rising. Based on the technical setup, a rally towards 380 looks possible, while support is placed at 345, below which the current positivity might fizzle out.

Buy Ipca Laboratories Ltd at ₹1,502; TGT ₹1,610; SL ₹1,439

Ipca Lab share price has given a consolidation breakout on the daily timeframe, suggesting a rise in optimism. Besides, the stock has moved above the critical moving average. On the higher end, it might move towards 1610, with the bullish crossover in RSI supporting the momentum. Support on the lower end is placed at 1,439.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.