Motilal Oswal's Chandan Taparia Identifies Three Stocks for Buy Recommendation

Indian Stock Market Outlook

Market Update The Indian stock market is expected to open lower on Tuesday, 24 February 2026, tracking unfavourable cues from global markets. Domestic equity market indices ended higher in the previous session, with the benchmark Nifty 50 closing above 25,700 level.

Key Indices

• Nifty 50: closed at 25,713.00, up 141.75 points or 0.55%
• Sensex: gained 479.95 points or 0.58% to close at 83,294.66

Options Trading

• Maximum Call Open Interest (OI) is at 26,000 then 25,800 strike
• Maximum Put OI is at 25,600 then 25,500 strike
• Option data suggests a broader trading range in between 25,300 to 26,200 zones, while an immediate range between 25,500 to 25,900 levels

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Nifty 50 Outlook The Nifty 50 index formed a small-bodied bullish candle on the daily frame with wicks on both sides, suggesting some lack of follow-up buying and a need of unwinding of call writers at the higher levels for a fresh leg of rally. For an up move, Nifty 50 needs to hold above 25,650 zones, while support can be seen at 25,600 then 25,500 zones.

Bank Nifty Outlook The Bank Nifty index gained 92.25 points or 0.15% to close at 61,264.25 on Monday, forming a small-bodied candle on daily scale as buying is visible at lower zones but momentum is missing at higher levels. For an up move, Bank Nifty needs to hold above 61,000 zones, while on the downside, support is seen at 61,000 then 60,750 zones.

Stock Recommendations Chandan Taparia recommends buying the following stocks:

• Dr. Reddy's Laboratories: Buy, Target Price: ₹1,415, Stop Loss: ₹1,250
• Indian Oil Corporation: Buy, Target Price: ₹188, Stop Loss: ₹170.40
• SBI Life Insurance: Buy, Target Price: ₹2,250, Stop Loss: ₹2,040

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