Motilal Oswal Expert Recommends Three Stocks for Long-Term Investment

Indian Stock Market Expected to Extend Losses Amid US-Iran Uncertainties

The Indian stock market is expected to open lower on Tuesday, June 2, 2026, as investors remain cautious amid uncertainties over the US-Iran peace talks. The Gift Nifty, a benchmark index, was trading around 23,267, a discount of nearly 195 points from the Nifty futures' previous close. This indicates a gap-down start for the Indian benchmark indices.

The domestic equity market indices ended lower for the fourth consecutive session on Monday, with the benchmark Nifty 50 slipping below 23,400. The Sensex cracked 508.40 points, or 0.68%, to close at 74,267.34, while the Nifty 50 settled 165.15 points, or 0.70%, lower at 23,382.60.

Option Data Suggests Broader Trading Range

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On the Nifty options front, Chandan Taparia, Head Derivatives & Technicals at Motilal Oswal Financial Services Ltd, analyzed the data. The maximum Call Open Interest (OI) is at 24,000 then 23,600 strike, while the maximum Put OI is at 23,400 then 23,000 strike. Call writing is seen at 23,600 then 23,500 strike, while Put writing is seen at 23,400 then 23,300 strike.

Option data suggests a broader trading range in between 22,800 to 23,800 zones, while an immediate range between 23,000 to 23,600 levels.

Nifty 50 Outlook

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The Nifty 50 index formed a big bearish candle on the daily frame and has been making lower lows from the last four sessions. Till the Nifty 50 holds below 23,500 zones, weakness could be seen towards 23,200 then 23,000 zones, while on the upside, hurdles have shifted lower to 23,650 then 23,750 zones.

Bank Nifty Outlook

The Bank Nifty index slipped 596.10 points, or 1.10%, to close at 53,643.10 on Monday, forming a bearish bodied candle on the daily scale with slight upper and lower wicks, indicating resistance remains intact at higher zones. Till the Bank Nifty index holds below 54,000 zones, some weakness could be seen towards 53,500 then 53,000 levels, while on the upside, hurdle is seen at 54,000 then 54,250 zones.

Stocks to Buy

Chandan Taparia has recommended three stocks to buy today, June 2, 2026. Taparia recommends buying Tech Mahindra, NBCC (India), and National Aluminium Company shares.

• Tech Mahindra: Buy with a target price of ₹1,630 and a stop loss of ₹1,500. The share price has broken out from an "Ascending triangle" pattern on the daily chart and surpassed above its 200 DEMA zones. The RSI indicator is rising, confirming the bullish momentum.
• NBCC: Buy with a target price of ₹110 and a stop loss of ₹100. The share price has broken out from an "Inverted Head and Shoulder" pattern, suggesting a continuation of the uptrend. The MACD line is rising, confirming the bullish momentum.
• National Aluminium Company: Buy with a target price of ₹460 and a stop loss of ₹420. The share price is on the verge of giving a rounding bottom breakout at its "All Time High" zones. A sustained move above the ₹444 level could trigger a sharp upside rally.