Motilal Oswal Analyst Recommends Stocks to Buy: Three Securities Get a Boost on May 12, 2026

Indian Stock Market Expected to Open Lower Amid Global Market Trends

The Indian stock market is expected to open lower on Tuesday, despite a positive trend in global markets, due to concerns over the economic impact of rising crude oil prices and the US-Iran conflict on the domestic economy. The Gift Nifty index is trading at around 23,719, a discount of nearly 150 points from the Nifty futures' previous close.

Market Trends and Outlook

In the previous session, the equity market extended losses for the third straight day, with the Nifty 50 slipping below 23,900. The Sensex crashed 1,312.91 points, or 1.70%, to close at 76,015.28, while the Nifty 50 settled 360.30 points, or 1.49%, lower at 23,815.85.

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The Nifty options front indicates a broader trading range between 23,300 and 24,300 zones, while an immediate range between 23,600 and 24,100 levels is expected. The maximum Call Open Interest (OI) is at 24,000, followed by 24,200, while the maximum Put OI is at 23,900, followed by 23,500.

Technical Analysis

The Nifty 50 index has formed a bearish candle on the daily frame with losses of around 360 points and has started to make lower top-lower bottom formations from the last two sessions. As long as the Nifty 50 holds below 23,950 zones, weakness could be seen towards 23,750, then 23,550 zones, while on the upside, hurdles have shifted lower to 23,950, then 24,100 zones.

Bank Nifty Outlook

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The Bank Nifty index declined 870.65 points, or 1.57%, to end at 54,439.90 on Monday, forming a bearish candle on the daily scale with a longer upper wick, indicating resistance remains intact at higher zones. As long as the Bank Nifty index holds below 54,750 zones, some weakness could be seen towards 54,000, then 53,750 levels, while on the upside, hurdle is seen at 54,750, then 55,000 zones.

Stock Recommendations

Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services, has recommended three stocks to buy today.

These stocks have shown positive momentum and are expected to perform well in the short term. Sun Pharmaceutical Industries has broken out from a consolidation zone, Fortis Healthcare has given a breakout from a falling supply trendline, and Grasim Industries has given a range breakout at its "All Time High" zones.