Motilal Oswal Analyst Suggests Stocks for Potential Investment on March 17, 2026
Indian Stock Market Expected to Open Higher on Tuesday
The Indian stock market is expected to open higher on Tuesday, 17 March 2026, following a rally in global markets. The trends on Gift Nifty also signal a steady start for the frontline indices, Nifty 50 and Sensex today.
Market Update
The Nifty 50 closed above the 23,400 level in the previous session, with a gain of 257.70 points, or 1.11%, at 23,408.80. The Sensex spiked 938.93 points, or 1.26%, to close at 75,502.85. The focus will be on the trend in crude oil prices and the escalation in the ongoing US-Iran war in the Middle East.
Nifty Options Front
The maximum Call Open Interest (OI) is at 23,500 and 24,000 strike, while the maximum Put OI is at 23,000 and 23,200 strike. Option data suggests a broader trading range in between 22,900 to 23,900 zones, while an immediate range between 23,100 to 23,700 levels.
Nifty 50 Outlook
The Nifty 50 index formed a bullish candle with a longer lower shadow, indicating bulls activating at lower levels and improving the ongoing sentiment. To confirm a bounce, the index needs to cross and hold above 23,500 zones, while a hold below the same could see weakness towards 23,150 then 22,950 zones.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Bank Nifty Outlook
The Bank Nifty index jumped 655.55 points, or 1.22%, to end at 54,413.40 on Monday, forming a bullish bodied candle with a longer lower wick on the daily scale. The index needs to cross and hold above 54,500 zones for an up move towards 54,750 then 55,000 levels.
Stock Recommendations
Chandan Taparia, Head Derivatives & Technicals, Motilal Oswal Financial Services Ltd, has recommended three stocks to buy today:
- Multi Commodity Exchange of India (MCX): Buy with a target price of ₹2,710 and a stop loss of ₹2,478.
- Bajaj Finance: Buy with a target price of ₹930 and a stop loss of ₹850.
- Mahindra & Mahindra (M&M): Buy with a target price of ₹3,220 and a stop loss of ₹2,950.
Investor Takeaway
Investors should be cautious of the ongoing US-Iran war and its impact on crude oil prices.
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