The Indian stock market is expected to open lower on Tuesday, with Gift Nifty trading around 24,168 level, a discount of nearly 91 points from the Nifty futures' previous close. According to reports from Livemint, the domestic equity indices ended lower in the previous session, with the benchmark Nifty 50 closing below 24,300 level at 24,238.50, while the Sensex plunged 442.93 points to close at 77,708.52. Chandan Taparia, Head Derivatives & Technicals at Motilal Oswal Financial Services Ltd, has recommended three stocks to buy today, 21 July 2026 - Manappuram Finance, State Bank of India (SBI), and Bharat Forge.
Manappuram Finance share price has negated the lower low formation of the last six sessions and formed a strong bullish candle indicating buyer strength. As reported by Livemint, the stock is holding its 50 DEMA and witnessing a healthy bounce from support levels. The RSI has given a bullish crossover which shows bullish momentum to continue towards an all time high level of ₹350 zones. Taparia recommends buying Manappuram Finance shares for a target price of ₹357 apiece, while maintaining a stop loss at ₹326 level.
SBI share price has been forming higher highs over the last few sessions and is now giving a pole and flag breakout on the daily chart. According to Livemint, SBI stock price is trading above all its short term moving averages, reflecting underlying strength. With buying interest visible across PSU banks, Taparia believes SBI shares look poised to extend its upward momentum. He has issued a 'Buy' call on the stock with SBI share price target of ₹1,120 and stop loss of ₹1,025.
Bharat Forge share price has delivered a consolidation breakout above the ₹2,170 zone and is holding firmly above the same indicating sustained strength. As reported by Livemint, the stock is trading in all-time high territory and looks poised to surpass its previous high near ₹2,240. Momentum indicators remain positively placed supporting the ongoing bullish trend. Taparia suggests buying Bharat Forge shares for a target price of ₹2,340 apiece, while keeping a stop loss at ₹2,140 level.
On the Nifty options front, according to Livemint, the maximum Call Open Interest is at 24,300 then 24,500 strike, while maximum Put OI is at 24,200 then 24,100 strike. The Nifty 50 index formed an inside bar along with a bullish spinning top candle on the daily timeframe. Taparia noted that Nifty 50 index has to cross and hold above 24,250 for an up move towards 24,400 then 24,500 zones, while support can be seen at 24,100 and 24,000 zones. For Bank Nifty, the index declined 576.40 points to end at 57,945.00 and needs to cross and hold above 58,000 zones for a bounce towards 58,500 then 58,750 levels.
