Motilal Oswal Analyst Suggests Three Stocks for Purchase on April 15, 2026

Indian Stock Market Snaps Winning Streak Amid Rising Crude Oil Prices

The Indian stock market faced a setback on Monday, April 13, as rising crude oil prices dampened investor sentiment. The failure of US-Iran peace talks over the weekend to produce a deal revived concerns in the region, leading to a decline in the benchmark indices. The Nifty 50 ended the day nearly 1% lower at 23,842, while the S&P BSE Sensex closed at 76,788, also down 1% from Friday's finish.

The broader markets echoed the subdued mood, with both the Nifty Midcap 100 and Nifty Smallcap 100 indices posting losses of more than 0.46%. Despite the sharp declines, the benchmark indices managed to recover roughly half of their early losses, suggesting buying interest at lower levels. The Nifty 50 and Sensex had dropped as much as 2% earlier in the session.

Market Outlook

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The Nifty index opened gap down by around 540 points due to dampened global cues, but picked up strength right from the first tick and recovered above the 23,900 zones. It consolidated towards the end but recouped most of its intraday losses. According to Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services, the index formed a bullish candle on the daily frame and absorbed any supply pressure in the market.

The index now needs to cross and hold above 23,900 zones for an up move towards 24,100, then 24,300 zones, while supports can be seen at 23,700, then 23,550 zones.

Bank Nifty

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The Bank Nifty index opened gap down by more than 1,300 points in line with weak global cues and drifted towards 54,350 zones in the initial tick of the session. However, a gradual recovery was seen from the lower levels towards the 55,750 levels in the latter part of the session. Taparia noted that the index formed a bullish candle on the daily scale as buying interest is visible at lower levels, but multiple hurdles are intact at higher zones and are hovering below its 50 DEMA.

Chandan Taparia has recommended three stocks to buy tomorrow, April 15, 2026: Multi Commodity Exchange (MCX), Sona Blw Precision Forgings, and Waaree Energies. These stocks have shown positive technical indicators and are expected to continue their uptrend.