Shares to buy or sell: Chandan Taparia of Motilal Oswal recommends three stocks to buy today - 12 May 2026

The Indian stock market is expected to open lower on Tuesday, despite a positive trend in global markets, amid worries over the economic fallout of the rising crude oil prices and US-Iran war on the domestic economy. The trends on Gift Nifty also signals a gap-down start for the benchmark indices, Nifty 50 and Sensex today.

The Gift Nifty was trading around 23,719 level, a discount of nearly 150 points from the Nifty futures’ previous close.

In the previous session, the equity market extended losses for the third straight day, with the Nifty 50 slipping below 23,900 level.

The Sensex crashed 1,312.91 points, or 1.70%, to close at 76,015.28, while the Nifty 50 settled 360.30 points, or 1.49%, lower at 23,815.85.

On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services said that the maximum Call Open Interest (OI) is at 24,000 then 24,200 strike, while maximum Put OI is at 23,900 then 23,500 strike.

“Call writing is seen at 24,000 then 23,900 strike while Put writing is seen at 23,900 then 23,850 strike. Options data suggests a broader trading range in between 23,300 to 24,300 zones, while an immediate range between 23,600 to 24,100 levels,” said Taparia.

Nifty 50 Outlook

Nifty 50 index formed a bearish candle on the daily frame with losses of around 360 points and has started to make lower top - lower bottom from the last two sessions.

“Now, till Nifty 50 holds below 23,950 zones, weakness could be seen towards 23,750 then 23,550 zones, while on the upside, hurdles have shifted lower to 23,950 then 24,100 zones,” said Taparia.

Bank Nifty Outlook

Bank Nifty index declined 870.65 points, or 1.57%, to end at 54,439.90 on Monday, forming a bearish candle on the daily scale with a longer upper wick, indicating resistance remains intact at higher zones.

“Now, till Bank Nifty index holds below 54,750 zones, some weakness could be seen towards 54,000 then 53,750 levels, while on the upside, hurdle is seen at 54,750 then 55,000 zones,” said Taparia.

Stocks to buy

Chandan Taparia has recommended three stocks to buy today, 12 May 2026. Taparia recommends buying Sun Pharmaceutical Industries, Fortis Healthcare and Grasim Industries shares.

Sun Pharma | Buy | Target Price: ₹1,980 | Stop Loss: ₹1,815

Sun Pharma share price has broken out from a consolidation zone on the daily scale with a strong bodied bullish candle. The RSI indicator is positively placed which has bullish implications, said Taparia.

He recommends buying Sun Pharma shares for a target price of ₹1,980 apiece, while maintaining a stop loss at ₹1,815 level.

Fortis Healthcare | Buy | Target Price: ₹1,030 | Stop Loss: ₹944

Fortis Healthcare share price has given a breakout from a falling supply trendline and is respecting its 100 DEMA. The MACD indicator has given a bullish crossover to confirm the positive momentum.

Taparia suggests buying Fortis Healthcare shares for a target price of ₹1,030 apiece, while keeping a stop loss of ₹944.

Grasim Industries | Buy | Target Price: ₹3,160 | Stop Loss: ₹2,890

Grasim share price has given a range breakout at its “All Time High” zones and given a golden crossover to confirm the uptrend. The ADX line is rising which confirms the strength of the uptrend, Taparia said.

He has a ‘Buy’ call and Grasim Industries share price target of ₹3,160 apiece, and a stop loss of ₹2,890.

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.