The Indian stock market is expected to see a muted opening on Tuesday, 26 May 2026, following mixed cues from global markets amid cautiousness over the US-Iran peace talks. According to reports from Livemint, the trends on Gift Nifty indicate a muted start for the Indian benchmark index, with the Gift Nifty trading around 24,040 level, a discount of nearly 23 points from the Nifty futures' previous close. In the previous session, the Indian equity market witnessed a stellar rally, with the benchmark Nifty 50 closing above 24,000 level.
As reported by Livemint, the Sensex jumped 1,073.61 points, or 1.42%, to close at 76,488.96, while the Nifty 50 settled 312.40 points, or 1.32%, higher at 24,031.70. On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd noted that the maximum Call Open Interest (OI) is at 24,000 then 24,500 strike, while maximum Put OI is at 24,000 then 23,900 strike. According to Taparia, call writing is seen at 24,000 then 24,050 strike, while Put writing is seen at 24,000 then 23,900 strike.
According to Livemint reports, the Nifty 50 index formed a bullish candle on the daily frame and has been making higher lows from the last three sessions. Taparia stated that Nifty 50 has to hold above 24,000 zones for an up move towards 24,200 then 24,400 zones, while on the downside, support can be seen at 23,900 then 23,800 zones. The option data suggests a broader trading range in between 23,500 to 24,500 zones, while an immediate range between 23,800 to 24,300 levels.
As reported by Livemint, Bank Nifty index rallied 1,238.30 points, or 2.29%, to close at 55,293.65 on Monday, forming a big bullish candle on the daily scale as strong buying interest was visible at lower levels. Taparia noted that the Bank Nifty index has finally given a range breakout on the daily scale after nine sessions above 54,500 levels. The Bank Nifty now has to hold above 55,250 zones for an up move towards 55,750 then 56,000 zones, while on the downside, support is seen at 55,000 then 54,750 levels.
According to Livemint reports, Chandan Taparia has recommended three stocks to buy today, 26 May 2026. For PNB Housing Finance, he recommends buying for a target price of ₹1,150 with a stop loss at ₹1,050, noting that the share price has broken out from a bullish 'Pennant' pattern. For Adani Power, he suggests buying for a target price of ₹245 with a stop loss of ₹226, highlighting the stock's pole and flag breakout on the daily chart. For BHEL, he has a 'Buy' call with a target price of ₹444 and a stop loss of ₹406, citing the stock's overall uptrend and RSI confirmation of bullish momentum.
