Motilal Oswal Analyst Recommends Stocks to Buy Amid RBI Policy Review

Indian Stock Market Expected to See Muted Opening on Friday

The Indian stock market is likely to see a muted opening on Friday, following a mixed trend in global markets, as investors remain cautious about the uncertainty over the US-Iran peace talks and ahead of the RBI policy announcement. The trends on Gift Nifty also indicate a tepid start for the benchmark indices, Sensex and Nifty 50.

The Gift Nifty was trading around 23,569 level, a premium of nearly 58 points from the Nifty futures' previous close. The domestic equity indices ended with minor gains in the previous session, with the benchmark Nifty 50 holding above 23,400 level. The Sensex added 13.84 points, or 0.02%, to close at 74,360.01, while the Nifty 50 settled 10.95 points, or 0.05%, higher at 23,416.55.

Nifty Options Analysis

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According to Chandan Taparia, Head Derivatives & Technicals at Wealth Management, Motilal Oswal Financial Services, the maximum Call Open Interest (OI) is at 24,000 then 23,500 strike, while maximum Put OI is at 23,000 then 23,300 strike. The option data suggests a broader trading range in between 23,000 to 23,900 zones, while an immediate range between 23,200 to 23,700 levels.

Nifty 50 Outlook

The Nifty 50 index formed a bullish candle on the daily frame and broke its lower lows formation of the last six sessions. Now, Nifty 50 has to hold above 23,400 zones for the buying spirit to sustain and move the index up towards 23,550 then 23,750 zones, while supports have shifted higher to 23,300 then 23,222 zones.

Bank Nifty Outlook

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The Bank Nifty index rallied 121.90 points, or 0.22%, to close at 54,307.85 on Thursday, forming a bullish candle on the daily scale as buying interest is visible at lower levels. Now, Bank Nifty has to hold above 54,250 zones for an up move towards 54,750 then 55,000 levels, while on the downside, support is seen at 54,000 then 53,750 zones.

Recommended Stocks to Buy

Chandan Taparia has recommended three stocks to buy on Friday, June 5, 2026. The recommended stocks are:

These stocks have shown promising trends and are expected to move upwards in the coming days. BSE share price has bounced up from its 20 DEMA support zones after forming a bullish bodied bullish candle. Laurus Labs share price is in a strong uptrend and trading in its all-time high zone. Exide Industries share price has formed a strong base around the ₹350 zone and is now making a series of higher highs and higher lows on the daily chart.