Closing bell!Sun Pharma to Eicher Motors -Jay Thakkar suggests three stocks to buy or sell for short-term in F&O segment

Stock market today: Indian stock exchanges opened with pressure on Wednesday as tensions between Israel and Iran continue to escalate for the sixth day, raising concerns among investors about the potential for direct US involvement.

At 14:22 IST, the Nifty 50 was seen trading at 24,766 . 40, down by 85.80 points or 0.35%, while the Sensex dropped 311.81 points at 81,271.49, reflecting a decline of 0.39%.

Geopolitical strains intensified further after US President Donald Trump demanded an "unconditional surrender" from the Iranian government, which Iran has outright refused. Israel, which has reportedly swiftly accomplished many of its military goals, is believed to have air superiority over Iran.

Nonetheless, Iran's missile inventory continues to represent a significant threat, and the situation is increasingly viewed as a test of resilience. Despite the elimination of key military and nuclear figures, Iran's nuclear facilities remain largely undamaged, and the nation is likely to persist in its resistance.

Market Outlook by Jay Thakkar, Vice President & Head of Derivatives and Quant Research, ICICI Securities

Nifty 50

Nifty 50 has been consolidating within a range of 24,500 to 25,200 since past couple of days now. Earlier to its breakout as well it was consolidating, so since May 15th it has been consolidating, however, there has been sectoral rotation since then wherein Nifty IT has outperformed the Nifty Bank since past few weeks now. So, until there is a clear breakout the Index is likely to trade sideways.

Stocks To Buy in the near-term - Jay Thakkar

Jay Thakkar of ICICI Securities recommends Sun Pharmaceutical Futures, Eicher Motors Futures, and Persistent Systems Futures.

Sell Sun Pharmaceutical Futures

Sell Sun Pharmaceutical Futures shares in the range of ₹1,650 to ₹1,640; Stop Loss of ₹1,600 to ₹1,570; target price of ₹1,685

Sunpharma has broken its range on the lower side with short built up seen in futures segment as well. There has been aggressive call writing at the higher levels which will act as a resistance; hence the short-term view is negative. The stock has broken its consolidation on the lower side as well as it is trading below its max pain and modified max pain, so the trend continues to remain negative.

Buy Eicher Motors Futures

Buy Eicher Motors Futures shares in the range of ₹5,420 to ₹5,450; stop loss ₹5,320; target price of ₹5,550 and ₹5,620.

Eicher motors has provided a breakout on the upside with long built up in futures segment. The stock had corrected since past few days due to long unwinding, however, the overall trend is still bullish. There is significant call additions at the higher levels, however, since there has been a positive bias in futures due to the breakout, so the trend is likely to continue on the upside.

Buy Persistent Systems Futures

Buy Persistent Systems Futures shares in the range of ₹6,030 to ₹6,050; stop loss of ₹5,970; target price of ₹6,150 to 6,250.

Persistent had corrected earlier due to long unwinding which further extended due to short covering. The stock has thereafter recovered due to short covering and now it has witnessed long additions indicating a shift in trend from down to up. The stock is trading well above its 20-day VWAP as well as its max pain and modified max pain, hence the trend is positive in the short to medium term.

Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 17/06/2025 or have no other financial interest and do not have any material conflict of interest.

The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.