Shares to buy or sell: Chandan Taparia of Motilal Oswal recommends three stocks to buy today - 2 June 2026

The Indian stock market is expected to extend losses and open lower on Tuesday as investors remain cautious amid uncertainties over the US-Iran peace talks. The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark indices.

The Gift Nifty was trading around 23,267 level, a discount of nearly 195 points from the Nifty futures’ previous close.

The domestic equity market indices ended lower for the fourth consecutive session on Monday, with the benchmark Nifty 50 slipping below 23,400 level.

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.

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 23,600 strike, while 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,” said Taparia.

Nifty 50 Outlook

Nifty 50 index formed a big bearish candle on the daily frame and has been making lower lows from the last four sessions.

“Now, till 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,” said Taparia.

Bank Nifty Outlook

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.

“Now, till 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,” said Taparia.

Stocks to buy

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

Tech Mahindra | Buy | Target Price: ₹1,630 | Stop Loss: ₹1,500

Tech Mahindra 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 which confirms the bullish momentum, Taparia said.

He recommends buying Tech Mahindra shares for a target price of ₹1,630 apiece, while maintaining a stop loss at ₹1,500 level.

NBCC | Buy | Target Price: ₹110 | Stop Loss: ₹100

NBCC share price has broken out from an “Inverted Head and Shoulder” pattern suggesting a continuation of the uptrend. The MACD line is rising which confirms the bullish momentum.

Taparia has a ‘Buy’ call and NBCC share price target of ₹110 apiece, and a stop loss of ₹100.

National Aluminium Company | Buy | Target Price: ₹460 | Stop Loss: ₹420

National Aluminium Company 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. It is respecting its 50 DEMA with slight dips being bought into, Taparia said.

He suggests buying National Aluminium Company shares for a target price of ₹460 apiece, while keeping a stop loss at ₹420 level.

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.