Motilal Oswal Analyst Suggests Buy Opportunities in Three Stocks

Indian Stock Market Remains Volatile Amid Mixed Global Cues

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to remain volatile on Tuesday amid mixed global market cues as investors remain cautiously optimistic about the US-Iran peace talks. The equity market ended with nominal gains in the previous session, and the benchmark Nifty 50 closed above 24,300 level.

On Monday, the Sensex gained 26.76 points, or 0.03%, to close at 78,520.30, while the Nifty 50 settled 11.30 points, or 0.05%, higher at 24,364.85. The Nifty 50 index formed a doji sort of candle on the daily frame and is hovering near its 50 DEMA.

Nifty 50 Outlook

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According to Chandan Taparia, Head Derivatives & Technicals at Wealth Management, Motilal Oswal Financial Services, the Nifty 50 has to continue to hold above 24,300 zones for an up move towards 24,500 then 24,700 zones, while support can be seen at 24,250 then 24,100 zones.

Bank Nifty Outlook

The Bank Nifty index rose 16.65 points, or 0.03%, to close at 56,582.35 on Monday, and formed a Doji sort of candle on the daily scale as buying interest was visible at lower levels but momentum is missing at higher zones. Taparia added that the Bank Nifty index has to continue to hold above 56,500 zones for an up move towards 57,000 then 57,500 levels, while on the downside, support is seen at 56,250 then 56,000 levels.

Stocks to Buy

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Chandan Taparia has recommended three stocks to buy today, 21 April 2026. Taparia recommends buying State Bank of India (SBI), JSW Steel, and Torrent Power shares.

Taparia's recommendations are based on the technical analysis of the stocks. SBI share price is forming higher highs and is now on the verge of a rounding bottom breakout. JSW Steel share price has witnessed a sharp V-shaped recovery after the recent decline supported by strong volume. Torrent Power share price is giving an inverse head and shoulders breakout on the weekly chart, indicating a strong trend reversal setup.