F&O Strategy: Hindalco to Bajaj Finance — Rupak De suggests buy or sell strategy for these stocks - 24 November 2025

Stock market today: India's main stock indexes opened slightly higher on Monday, moving closer to all-time highs, driven by advancements in IT shares amid growing expectations of a potential rate cut by the Federal Reserve in December.

The Nifty 50 increased by 0.21% to 26,122.8, while the BSE Sensex gained 0.1% to reach 85,320.04, as of 9:15 a.m. IST.

Other Asian markets also experienced gains, with the MSCI Asia ex-Japan index rising by 1%, following comments from New York Fed President John Williams indicating that the US central bank might still consider lowering interest rates soon.

Lower interest rates in the US encourage economic growth there, which benefits sectors like IT and becomes more appealing to foreign investors in emerging markets such as India, according to experts.

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

The Nifty 50 delivered a strong breakout on the weekly chart in November, paving the way for a potential short-term rally. On the daily timeframe, the index has broken out of a falling channel and moved towards its all-time high. It has also retested the breakout zone, which further reinforces the likelihood of an upward move in the coming weeks.

On the derivatives front, significant call writing at the 26,200 CE strike suggests a major resistance point for the November series. A sustained move above 26,200 could open the gates for a rally towards 26,400 and higher levels. On the downside, support is seen in the 26,000–25,900 range. Overall, the index is expected to remain range-bound for the November expiry unless it decisively crosses 26,200.

Open Interest Analysis: Heavy call writing was visible on Friday in the Nifty 50 monthly options. The net addition to call open interest stood at 2.89 crore, compared to a net reduction of 2.14 crore in put open interest. Significant call open interest buildup was observed at the 26,100 and 26,200 strikes on Friday. Maximum put open interest is concentrated at 26,000,while maximum call open interest is seen at 26,500, defining a broader range for the market.

Strategy: Strong CALL Open Interest addition at 26,500 signifies a strong resistance. Any rise towards 26,500 might attract selling pressure in the market. A decisive fall below 26,000 might intensify selling pressure.

Trade: Buy Nifty Nov 26,000PE around 70 TGT 120 SL 50.

Sell Hindalco Industries Ltd at ₹777; SL at ₹792; TGT at ₹740

After a stellar rally in the last few weeks, Hindalco has fallen from its recent consolidation, leading to rising pessimism around the counter. Besides, the stock has slipped below the 50 EMA, which further suggests a bearish trend and may attract additional selling pressure in the short term. The RSI has moved lower with a bearish crossover, indicating weakening price momentum. On the lower end, the stock may decline towards 740, while on the higher end, resistance is placed at 792.

Buy Five-Star Business Finance Ltd at ₹619; SL at ₹595; TGT at ₹665

Five-Star Business Finance has witnessed a smart recovery after finding support around the 50 EMA on the daily timeframe, suggesting that the short-term uptrend remains intact. Besides, the stock has formed a bullish engulfing pattern amid broader market weakness, indicating resilience. The RSI on the hourly chart is in a bullish crossover and has emerged from the deep oversold zone. Based on the technical setup, the trend appears to favour long trades in the short term, with the potential to move towards 665. On the lower end, support is placed at 595.

Sell Bajaj Finance Ltd at ₹1,004; SL at ₹1,030; TGT at ₹955

Bajaj Finance has been facing resistance at the 21 EMA for the last several days. On the lower end, it is on the verge of a breakdown from the recent consolidation. The RSI on the daily chart is in a bearish crossover. If the weakness persists, the stock may decline towards 955. On the higher end, resistance is placed at 1030, above which the trend may turn positive.

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