1 week ago
Motilal Oswal Analyst Recommends Three Stocks Amid Flat Market Outlook
Indian stock markets were expected to begin the day with little change.
Global signals were mixed, so traders were cautious.
The Nifty 50 had recently recovered after falling for seven sessions in a row.
Chandan Taparia of Motilal Oswal studied charts and option activity.
He said the Nifty could rise if it stays above 24,200.
He also said the Bank Nifty needs to remain above 57,500 for a possible rebound.
Taparia recommended buying Dixon Technologies, Glenmark Pharmaceuticals, and Eternal.
Each recommendation included a price target and a level where investors could consider limiting losses.
The article has different dates for when these recommendations were made.
Indian equities were expected to open flat on 21 August 2026 amid mixed global cues and a muted Gift Nifty signal.
The Sensex rose 628.04 points to 77,537.72, while the Nifty 50 closed at 24,231.85 in the previous session.
Chandan Taparia said the Nifty 50 could move toward 24,350 and 24,450 if it holds above 24,200.
Taparia identified Dixon Technologies, Glenmark Pharmaceuticals, and Eternal as stocks to buy, with specified targets and stop-loss levels.
The article gives conflicting dates, referring to the recommendations as both 21 August and 7 August 2026.
- Who
- Chandan Taparia, Head of Derivatives and Technicals at Motilal Oswal Financial Services, made the recommendations.
- What
- He recommended buying Dixon Technologies, Glenmark Pharmaceuticals, and Eternal, while providing outlooks for the Nifty 50 and Bank Nifty.
- Where
- The recommendations concern Indian equity markets, including the Nifty 50, Sensex, and Bank Nifty.
- When
- The article is dated 21 August 2026, but its stock-recommendation section says the recommendations are for 7 August 2026.
- Why
- Taparia cited technical signals, breakouts, moving-average support, trading volumes, and momentum indicators as reasons for the stock calls.
Cautious Market View
Bullish Technical View
Expected market opening
Cautious Market View
Mixed global cues and Gift Nifty trends pointed to a flat or muted opening for Indian benchmark indices.
Bullish Technical View
The previous session ended positively overall, and the Nifty 50 reclaimed the 24,200 level after a seven-session losing streak.
Nifty 50 direction
Cautious Market View
Resistance and option positioning around 24,300–24,500 could limit near-term gains, while support was identified at 24,100 and 24,000.
Bullish Technical View
Taparia said holding above 24,200 could open a move toward 24,350 and 24,450.
Individual stocks
Cautious Market View
The recommendations include stop-loss levels, reflecting the possibility that the bullish setups could fail if prices weaken.
Bullish Technical View
Taparia recommended Dixon Technologies, Glenmark Pharmaceuticals, and Eternal based on breakouts, bullish candles, volumes, and positive momentum indicators.
Key facts
- Gift Nifty
- Trading around 24,326.5, approximately 34 points above the previous Nifty futures close.
- Sensex close
- 77,537.72, up 628.04 points or 0.82%.
- Nifty 50 close
- 24,231.85, reported as 153.55 points or 0.64% lower in the article.
- Nifty trading range
- Taparia identified a broader range of 23,800–24,700 and an immediate range of 24,000–24,500.
- Dixon Technologies call
- Buy; target price ₹15,500; stop loss ₹14,450.
- Glenmark Pharmaceuticals call
- Buy; target price ₹2,470; stop loss ₹2,260.
- Eternal call
- Buy; target price ₹345; stop loss ₹317.
Quotes
Chandan Taparia
Head of Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd
“Call writing is seen at 24,250 then 24350 strike while Put writing is seen at 24,200 then 24,250 strike. Option data suggests a broader trading range in between 23,800 to 24,700 zones while an immediate range between 24,000 to 24,500 levels.”],”
livemint.com
Sources
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