The Indian stock market is expected to open flat on Tuesday, following mixed global market cues amid hopes of a US-Iran ceasefire deal. The trends on Gift Nifty also indicate a muted start for the Indian benchmark indices, Nifty 50 and Sensex today.
The Gift Nifty was trading around 23,660 level, a premium of nearly 2 points from the Nifty futures’ previous close.
The equity market ended flat with a positive bias in the previous session after witnessing a sharp recovery from the day’s lows.
The Sensex ended 77.05 points, or 0.10%, higher at 75,315.04, while the Nifty 50 settled 6.45 points, or 0.03%, higher at 23,649.95.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd said that the maximum Call Open Interest (OI) is at 24,000 then 23,800 strike, while maximum Put OI is at 23,400 then 23,500 strike.
“Call writing is seen at 23,700 then 23,800 strike, while Put writing is seen at 23,400 then 23,300 strike. Options data suggests a broader trading range in between 23,200 to 24,200 zones, while an immediate range between 23,400 to 23,900 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 index formed a bullish candle with wicks on both sides, indicating a clear tug of war between bulls and bears.
“Now, Nifty 50 has to cross and hold above 23,700 zones for an up move towards 23,850 then 24,000 zones, while holding below the same can see some weakness towards 23,500 and then 23,333 zones,” said Taparia.
Bank Nifty Outlook
Bank Nifty index closed 173.35 points, or 0.32%, lower at 53,537.00 on Monday, and formed a small bodied candle on daily scale with long lower shadow as buying is visible at lower zones but multiple hurdles are intact at higher levels.
“Now, Bank Nifty index has to hold above 53,500 zones for a bounce towards 54,000 then 54,250 levels, while a hold below the same could see some weakness towards 53,000 then 52,750 zones,” said Taparia.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 19 May 2026. Taparia recommends buying Sun Pharmaceutical Industries, BSE and PB Fintech shares.
Sun Pharma | Buy | Target Price: ₹2,020 | Stop Loss: ₹1,847
Sun Pharma share price has broken out from a bullish “Pole and Flag” pattern on the daily chart suggesting a continuation of the uptrend. The ADX line is rising which confirms the strength of the positive price action, Taparia said.
He recommends buying Sun Pharma shares for a target price of ₹2,020 apiece, while maintaining a stop loss at ₹1,847 level.
BSE | Buy | Target Price: ₹4,360 | Stop Loss: ₹3,980
BSE share price is in a sharp uptrend and is respecting its 20 DEMA support zones with slight dips being bought into. Strength is visible across the capital markets sector. The RSI indicator is positively placed which has bullish implications.
Taparia has a ‘Buy’ call and BSE share price target of ₹4,360 apiece, and a stop loss of ₹3,980.
PB Fintech | Buy | Target Price: ₹1,855 | Stop Loss: ₹1,695
PB Fintech share price has bounced up from its 50 DEMA support zones with higher than average traded volumes and formed a strong bodied bullish candle. The MACD line is rising to confirm the positive momentum, Taparia said.
He suggests buying PB Fintech shares for a target price of ₹1,855 apiece, while keeping a stop loss at ₹1,695 level.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
