Shares to buy or sell: Chandan Taparia of Motilal Oswal recommends three stocks to buy today - 15 May 2026

The Indian stock market is expected to open on a flat note on Friday, following mixed cues from global markets, as sentiment remains cautious. The trends on Gift Nifty also indicate a flat start for the Indian benchmark index.

The Gift Nifty was trading around 23,675 level, a discount of nearly 25 points from the Nifty futures’ previous close.

The equity market witnessed a strong short covering rally in the previous session, with the benchmark Nifty 50 closing above 23,600 level.

The Sensex spiked 789.74 points, or 1.06%, to close at 75,398.72, while the Nifty 50 settled 277.00 points, or 1.18%, higher at 23,689.60.

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 24,500 then 24,000 strike, while maximum Put OI is at 23,400 then 23,500 strike.

“Call writing is seen at 23,700 then 23,500 strike, while Put writing is seen at 23,400 then 23,700 strike. Option data suggests a broader trading range in between 23,200 to 24,200 zones, while an immediate range between 23,400 to 23,900 levels,” said Taparia.

Nifty 50 Outlook

Nifty 50 index formed a bullish candle on the daily frame and negated its lower top - lower bottom formation of the last four sessions.

“Now, Nifty 50 has to hold above 23,650 zones for an up move towards 23,850 then 24,000 zones, while on the downside, support can be seen at 23,450 then 23,250 zones,” said Taparia.

Bank Nifty Outlook

Bank Nifty rallied 672.80 points, or 1.26%, to end at 54,128.95 on Thursday, forming a bullish-bodied candle on the daily scale with upper and lower wicks.

“This pattern indicates volatility in the market with buying interest visible at lower zones, while resistance is intact at higher levels. Now, Bank Nifty index has to hold above 54,000 zones for an up move towards 54,500 then 54,750 levels, while on the downside, support is seen at 53,750 then 53,500 zones,” said Taparia.

Stocks to buy

Chandan Taparia has recommended three stocks to buy today, 15 May 2026. Taparia recommends buying National Aluminium Company, Apollo Hospitals Enterprise and NTPC shares.

National Aluminium Company | Buy | Target Price: ₹440 | Stop Loss: ₹403

National Aluminium share price is in an overall uptrend and is respecting its 50 DEMA support zones with slight dips being bought into. The MACD indicator has given a bullish crossover to confirm the positive momentum, Taparia said.

He recommends buying National Aluminium Company shares for a target price of ₹440 apiece, while maintaining a stop loss at ₹403 level.

Apollo Hospitals | Buy | Target Price: ₹8,600 | Stop Loss: ₹7,880

Apollo Hospitals share price is retesting its breakout on the daily scale with higher than average traded volumes. It is respecting its 100 DEMA support zones. The Stochastic indicator has exited its oversold zones to confirm the bullish price action.

Taparia suggests buying Apollo Hospitals shares for a target price of ₹8,600, and keeping a stop loss of ₹7,880.

NTPC | Buy | Target Price: ₹420 | Stop Loss: ₹385

NTPC share price has bounced up after forming a bullish “Hammer” candlestick suggesting buying interest at current zones. The ROC indicator is rising which confirms the positive momentum, said Taparia.

He has a ‘Buy’ call and NTPC share price target of ₹420 apiece and a stop loss of ₹385.

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.