Shares to buy or sell: Chandan Taparia of Motilal Oswal recommends three stocks to buy today - 17 July 2026

The Indian stock market is expected to remain volatile on Friday, as investors remain cautious amid weakness in global markets, weighed down by concerns over the escalating US-Iran war, rising crude oil prices and a selloff in semiconductor stocks. The trends on Gift Nifty also indicate a flat start for the Indian benchmark indices, Nifty 50 and Sensex today.

The Gift Nifty was trading around 24,084 level, a discount of nearly 12 points from the Nifty futures’ previous close.

The domestic equity market ended flat in the previous session, with the benchmark Nifty 50 holding above 24,000 level.

The Sensex edged 1.44 points higher to close at 77,186.87, while the Nifty 50 settled 5.75 points, or 0.02%, lower at 24,072.75.

On the Nifty options front, Chandan Taparia Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services said that the maximum Call Open Interest (OI) is at 24,200 then 24,100 strike, while maximum Put OI is at 24,000 then 24,100 strike.

“Call writing is seen at 24,150 then 24,100 strike, while Put writing is seen at 24,100 then 24,050 strike. Option data suggests a broader trading range in between 23,800 to 24,500 zones, while an immediate range between 23,900 to 24,300 levels,” said Taparia.

Nifty 50 index formed a bearish candle along with an inside bar on the daily frame, indicating some rejection at higher levels, while support based buying intact at lower levels.

“Now, Nifty 50 has to hold above 24,000 zones, for a bounce towards 24,250 then 24,400 zones, while support can be seen at 23,950 then 23,850 levels,” said Taparia.

Bank Nifty index fell 175.60 points, or 0.30%, to close at 57,582.25 on Thursday, forming a small bearish candle.

“Bank Nifty index formed a small bearish candle on the daily scale with longer lower shadow as momentum is missing at higher zones but multiple supports are intact at lower levels. Now, the Bank Nifty index has to hold above 57,500 zones for a bounce towards 58,000 then 58,250 levels, while on the downside, support is seen at 57,250 then 57,000 zones,” said Taparia.

Chandan Taparia has recommended three stocks to buy today, 17 July 2026. Taparia recommends buying Sona BLW Precision Forgings, Bharat Heavy Electricals Ltd (BHEL) and Dixon Technologies (India) shares.

Sona BLW Precision Forgings share price remains in a strong uptrend forming a higher-high structure on the weekly chart. The stock is on the verge of a breakout from its 10 session consolidation range indicating potential for the next leg of the rally. It continues to respect the 20-DEMA, with every dip attracting fresh buying interest, Taparia said.

He recommends buying Sona BLW Precision Forgings shares for a target price of ₹720 apiece, while maintaining a stop loss of ₹663 level.

BHEL share price has delivered a 35-session consolidation breakout above the ₹425 zone, backed by strong volumes, signaling renewed buying interest. The stock has also surpassed its all-time high and is moving into uncharted territory. Additionally, BHEL share price has confirmed an inside-bar breakout on the monthly chart, reinforcing the strength of the ongoing uptrend.

Taparia has a ‘Buy’ call for the stock, with BHEL share price target of ₹460 and a stop loss of ₹420.