Colgate Palmolive to BSE - Jay Thakkar suggests 3 stocks to buy or sell for short-term in F&O segment

Stock market today: The domestic benchmark indices began Wednesday on a slightly positive note, propelled by gains in Titan, a jeweller and watchmaker, and Apollo Hospitals, a hospital chain, benefiting from robust earnings, while a revival in foreign inflows also boosted investor sentiment.

As of 9:18 IST, the Nifty 50 climbed 0.24% to 25,997.45, and the BSE Sensex rose 0.2% to 84,445.67.

At the market's opening, fifteen out of the sixteen primary sectors experienced gains. The broader small-cap and mid-cap indices increased by 0.2% and 0.1%, respectively. Over the last three sessions, the Nifty 50 and Sensex have both advanced by nearly 1.2%, fueled by encouraging news regarding the US-India trade agreement.

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

Nifty 50

Nifty 50 has closed in the positive territory in the last trading session as well and the weekly expiry was well above 25,900 levels. Now, on the upside, 26,000 levels is a key level to watch out for as that has the highest call base, hence that is an immediate hurdle. On the lower side, 25,500 is a very critical support as that is the recent low and until that is held the trend is likely to be positive. Above, 26,000 levels, the next level to watch out for will be 26,200 and 26,400.

The PCR is well above 1 at 1.03 for the next series which is a positive sign as well the Index is trading above its max pain level providing support in the short term. The India VIX has also cooled off from the recent levels and it is now expected to trade within a range of 11-15 on a conservative basis. Apart from Nifty IT, all the other sectors are trading with a positive bias either due to long built up or short covering. The FIIs have reduced their Index shorts from more than 2 lakhs contracts to less than 1.5 lakhs contracts which is also a positive sign.

There has been an overall positive number by the FIIs in the equity cash segment as well. So, overall, the short-term outlook is positive for the Index for the targets of 26,200 to 26,400 levels until 25,500 levels are held.

Stocks To Buy in the near-term - Jay Thakkar

Jay Thakkar of ICICI Securities recommends Colgate Palmolive (India) Futures, Indus Towers Futures, and BSE Futures.

Buy Colgate Palmolive futures in the range of ₹2,200-2,170 with a stop loss below ₹2,100 and Targets of ₹2,300 and ₹2,360

The stock has formed a falling wedge pattern and short covering has been witnessed in the stock both of which is a positive sign in the near term. The stock seems to have formed a good short-term base in the range of 2000-2100 levels and overall, till these levels are held the short-term outlook is positive in anticipation of short covering. As per the options data, 2200 strike has the highest call base and above it there is a high possibility of call unwinding which can lead to a bigger upside in the near term. The stock has also managed to close above its max pain level of 2160 indicating support at the lower levels.

Buy Indus Towers futures in the range of ₹458-460 with a stop loss below ₹449 and Targets at ₹475-485

The stock has provided a breakout above a symmetrical triangular pattern with a decrease in open interest in the futures segment indicating slow upward momentum, however, there has been good put additions at 440 and 430 strikes as well as call unwinding at 450 and 455 strikes indicating higher possibility of an upside from hereon. So, until 449 levels are held the short-term trend is positive for the stock for the targets of 475-485 and it is also trading well above its max pain level of 445.

Buy BSE Futures in the range of ₹3,140-3,180 with a stop loss below ₹3,060 and Targets at ₹3,260-3,320

The stock has provided a huge breakout from a sideways consolidation post its results and overall, it has witnessed significant short covering so far. Now, with this breakout it is likely to witness long additions at its life time high as the momentum is also very supportive for it. There has been huge call unwinding as well as put additions which has taken the PCR to 0.95 levels which is a positive sign in the near term. The stock has now closed well above its max pain level of 3,000, hence there is a good support at the lower levels.

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 10/02/2026 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.