The Indian stock market is expected to see a positive opening on Friday, as global markets rose amid hopes of a US-Iran peace deal. The trends on Gift Nifty also indicate a flat-to-positive start for the Indian benchmark indices, Nifty 50 and Sensex.
The Gift Nifty was trading around 23,658 level, a premium of nearly 27 points from the Nifty futures’ previous close.
The domestic ended lower in the previous session, weighed down by profit booking in select index heavyweights.
The fell 135.03 points, or 0.18%, to close at 75,183.36, while the Nifty 50 settled 4.30 points, or 0.02%, lower at 23,654.70.
On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd said that the maximum Call Open Interest (OI) is at 24,000 then 23,800 strike, while maximum Put OI is at 23,000 then 23,500 strike.
“Call writing is seen at 23,800 then 24,000 strike, while Put writing is seen at 23,700 then 22,900 strike. Option data suggests a broader trading range in between 23,200 to 24,100 zones, while an immediate range between 23,400 to 23,900 levels,” said Taparia.
Nifty 50 Outlook
Nifty 50 index index has remained stuck in a range of around 500 points from the last few sessions and now requires a decisive breakout for the next leg of the move.
“Nifty 50 index formed a bearish candle on the daily chart indicating pressure at higher levels. Now, has to cross and hold above 23,700 zones for an up move towards 23,850 then 24,000 zones, while on the downside, support can be seen at 23,500 then 23,400 zones,” said Taparia.
Bank Nifty Outlook
Bank Nifty index declined 122.80 points, or 0.23%, to close at 53,439.40, forming a bearish bodied candle on the daily scale with a long lower wick and a slight upper wick, indicating resistance remains intact at the higher zones while buying interest is visible at lower levels.
“Now, index has to cross and hold above 53,500 zones for a bounce towards 54,000 then 54,250 levels, while on the downside, support is seen at 53,250 then 53,000 zones,” said Taparia.
Stocks to buy
Chandan Taparia has recommended three stocks to buy today, 22 May 2026. Taparia recommends buying , KEI Industries and shares.
Apollo Hospitals | Buy | Target Price: ₹8,800 | Stop Loss: ₹8,060
Apollo Hospitals share price has broken out from a consolidation zone with higher than average traded volumes and formed a strong bodied bullish candle. The ADX line is rising which confirms the strength of the uptrend, said Taparia.
He recommends buying Apollo Hospitals shares for a target price of ₹8,800 apiece, while maintaining a stop loss at ₹8,060 level.
KEI Industries | Buy | Target Price: ₹5,555 | Stop Loss: ₹5,080
KEI Industries share price is in an overall uptrend and now on the verge of pole and flag breakout on daily scale. The up moves are supported with high traded volumes. The RSI indicator is positively placed which has bullish implications.
Taparia suggests buying shares for a target price of ₹5,555 apiece, and keeping a stop loss of ₹5,080.
Samvardhana Motherson | Buy | Target Price: ₹145 | Stop Loss: ₹133
Samvardhana Motherson share price has given a range breakout at a previous hurdle of ₹135 and now near its all time high zone. Strength was seen across the Auto sector. The MACD line is rising which confirms the positive momentum, Taparia said.
He has a ‘Buy’ call on Samvardhana Motherson shares, with a target price of ₹145 and a stop loss of ₹133.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.