The domestic stock market opened lower on Tuesday, with both the Nifty 50 and BSE Sensex turning negative amid a weakening rupee and continued foreign portfolio investor (FPI) outflows. The Nifty started at 26,146, down 29.75 points (-0.11%), while the Sensex opened at 85,523.17, falling 118.73 points (-0.14%).
Analysts noted that investor sentiment was impacted by the currency depreciation and sustained FPI withdrawals. Despite new highs on Monday, the indices could not maintain momentum, with Nifty’s peak at 26,325.80 and Sensex at 86,159.02.
According to Riyank Arora of Mehta Equities, Nifty faces selling pressure near 26,300, with support at 26,000. A drop below this could push the index toward 25,850–25,800, while only a close above 26,300 would signal fresh strength. Bank Nifty is struggling near 60,000, with support at 59,000 and 58,800.
For short-term trades, Arora recommends Paytm (CMP ₹1,367, Target ₹1,450), Motilal Oswal (CMP ₹946, Target ₹1,000), and KPIT Technologies (CMP ₹1,254, Target ₹1,350), highlighting strong support levels and favorable risk-reward setups for intraday or short-term gains.