Tata Consumers to BEL - Jay Thakkar suggests three stocks to buy or sell for short-term in F&O segment

Stock market today: India’s benchmark equity indices, the Sensex and Nifty 50, are expected to open marginally higher but largely flat on Wednesday, December 17, after posting losses in the previous two sessions.

Asian markets slipped in early trade, tracking a subdued close on Wall Street, as softer US employment data failed to bolster expectations of further interest-rate cuts by the Federal Reserve. Meanwhile, crude oil prices surged after US President Donald Trump announced “a total and complete” blockade on all sanctioned oil tankers moving in and out of Venezuela, heightening geopolitical concerns.

On Tuesday, Indian equities ended sharply lower, as the rupee hit record lows and subdued global cues weighed on investor sentiment. The Sensex dropped 534 points, or 0.63%, to close at 84,679.86, while the Nifty 50 declined 167 points, or 0.64%, to settle at 25,860.10.

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

Nifty 50

The Nifty closed in the negative zone on the weekly expiry day, and it closed below the 26000 levels, which have closed in the negative zone on the weekly expiry day, and it closed below 26000 levels, which has proven to be a stiff resistance in the near term. Now, there has been a strong call addition at 26000 levels and until it closes above it, the short-term range will be 26000-25700 levels and below that, it may extend a bit to 25500 levels as well.

From here on, any close above 26000 levels will be considered as a reversal from sideways trend to a potential upside move until 26500 levels. In this consolidation phase, the India VIX has not jumped beyond 13 levels indicating that until that happens this is a running correction within a medium-term uptrend.

Stocks To Buy in the near-term - Jay Thakkar

Jay Thakkar of ICICI Securities recommends Tata Consumers, Tech Mahindra and Bharat Electronics Limited.

Buy Tata Consumers in the range of 1165-1175 Stop Loss 1135 Targets 1220- 1250

Tata consumers has provided a breakout from a long consolidation and post that it consolidated in a narrow range. The breakout had come with long additions post which in the consolidating phase some profit booking was witnessed, however, in the last trading session, there has been a fresh breakout from this range which indicates that the possibility of a new uptrend has resumed. The Nifty FMCG Index now seems to have formed a short-term base near 54000 levels, hence the sectoral outlook is also positive. So, based on this analysis, there is a good risk reward on the long side in the stock.

Buy Tech Mahindra in the range of 1570-1580 Stop Loss 1525 Targets 1650

Tech Mahindra has reversed in the near term from down to up with that there has been some short covering witnessed in the stock as well. The overall IT Index has broadly witnessed buying interest in the December series and with this the short-term outlook has turned positive. The stock is trading well above its VWAP and its mean indicating that there is a good support at the lower end, hence it offers a good risk reward on the long side.

Sell Bharat Electronics in the range of 385-390 Stop Loss 365 Targets 400

Overall the Defence sector has witnessed short additions in last couple of trading weeks and BEL has also witnessed supply pressure at the higher levels. There has been significant call additions from 400 to 420 strikes indicating bearishness in the near term and as against that there is no major put base so far for the December series. The stock has closed below its max pain level which is at 400 and that will act as a resistance in the near 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 18/11/2025 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.