The Indian stock market is expected to open lower on Tuesday, May 12, 2026, despite positive global market trends. According to reports from Livemint, the Gift Nifty was trading around 23,719 level, representing a discount of nearly 150 points from the Nifty futures' previous close. This gap-down opening signal comes after the equity market extended losses for the third straight day, with the Nifty 50 slipping below 23,900 level in the previous session.
Chandan Taparia from Motilal Oswal Financial Services has recommended three stocks to buy for May 12, 2026. As reported by Livemint, the recommendations include Sun Pharmaceutical Industries with a target price of ₹1,980 and stop loss at ₹1,815, Fortis Healthcare targeting ₹1,030 with stop loss at ₹944, and Grasim Industries with a target of ₹3,160 and stop loss of ₹2,890.
The Indian stock market experienced significant selling pressure in the previous session, with the Sensex crashing 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. According to Livemint, the sell-off was attributed to weak global cues, surging crude oil prices, and geopolitical tensions, with government calls for austerity measures to contain US Dollar outflow weighing on investor sentiment.
For Nifty 50, weakness is expected towards 23,750 then 23,550 zones as long as it holds below 23,950, while upside hurdles are at 23,950 then 24,100. As reported by Livemint, the index formed a bearish candle on the daily frame with losses of around 360 points and has started making lower top-lower bottom patterns. For Bank Nifty, weakness could be seen towards 54,000 then 53,750 as long as it holds below 54,750, with upside hurdles at 54,750 then 55,000. The maximum Call Open Interest is at 24,000 then 24,200 strike, while maximum Put OI is at 23,900 then 23,500 strike.
According to Livemint, call writing is seen at 24,000 then 23,900 strike while put writing is seen at 23,900 then 23,850 strike. The options data suggests a broader trading range between 23,300 to 24,300 zones, with an immediate range between 23,600 to 24,100 levels. The Nifty 50 index has formed a bearish candle with losses of around 360 points and has started making lower top-lower bottom patterns from the last two sessions.
