Market Analyst Chandan Taparia Suggests Three Stocks for Investment on April 17, 2026

Market Outlook: Indian Stock Market Expected to Open on a Tepid Note

The Indian stock market is expected to open on a muted note on Friday, following mixed global market cues, amid caution over the uncertainty of US-Iran peace talks. The trends on Gift Nifty signal a subdued start for the frontline indices, Nifty 50 and Sensex, today.

Market Trends

The Gift Nifty was trading around 19,440, a discount of nearly 30 points from the Nifty futures' previous close. The domestic equity market ended lower in the previous session, with profit booking at higher levels, as the benchmark Nifty 50 closed near 24,200. The Sensex fell 122.56 points, or 0.16%, to close at 77,988.68, while the Nifty 50 settled 34.55 points, or 0.14%, lower at 24,196.75.

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Options Market Analysis

On the Nifty options front, Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services, noted that the maximum Call Open Interest (OI) is at 24,800, then 24,300 strike, while the maximum Put OI is at 23,500, then 24,200 strike.

Taparia observed that Call writing is seen at 24,400, then 24,800 strike, while Put writing is seen at 24,000, then 23,500 strike. Option data suggests a broader trading range in between 23,700 to 24,700 zones, while an immediate range between 23,900 to 24,400 levels.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Nifty 50 Outlook

The Nifty 50 formed a bearish candle on the daily frame, but a longer lower shadow indicates support-based buying is intact. For an up move, the Nifty 50 needs to cross and hold above 24,200 zones for an up move towards 24,400, then 24,600 zones, while support can be seen at 24,100, then 23,900 zones.

Bank Nifty Outlook

The Bank Nifty index declined 215.55 points, or 0.38%, to end at 56,086.40 on Thursday, forming a small-bodied candle on the daily scale as some profit booking was seen at higher zones. Multiple supports are intact at lower levels. For an up move, the Bank Nifty index needs to hold above 56,000 zones for an up move towards 56,500, then 56,750 levels, while on the downside, support is seen at 55,750, then 55,500 levels.

Stock Recommendations

Chandan Taparia has recommended three stocks to buy today, 17 April 2026. Taparia recommends buying Eternal, Crompton Greaves Consumer Electricals, and PB Fintech shares.

Stocks to Buy

Eternal

• Buy: Eternal shares
• Target Price: ₹268
• Stop Loss: ₹244 Eternal share price has given a range breakout with a strong-bodied bullish candle and surpassed above its 50 DEMA. The RSI indicator is rising to confirm the positive momentum.

Crompton Greaves Consumer Electricals

• Buy: Crompton Greaves shares
• Target Price: ₹275
• Stop Loss: ₹253 Crompton Greaves share price has bounced up from its major support zones and negated its lower lows formation on the weekly scale. The Stochastic indicator has exited its oversold zone to confirm the up move.

PB Fintech

• Buy: PB Fintech shares
• Target Price: ₹1,650
• Stop Loss: ₹1,500 PB Fintech share price has given a breakout from a falling supply trend-line. The stock has formed a strong bullish candle supported by rising volumes indicating buying interest. Sustaining above the breakout zone can lead to further upside traction.