Stocks to buy today: Marico, Power Grid among top 6 trading ideas for 8 May 2025

The Indian market is expected to consolidate on Thursday, tracking mixed global signals.

Nifty futures closed with modest gains of 0.17% at 24,472 levels on Wednesday. Meanwhile, India VIX edged up slightly, ending the session at 19.06.

Options Data Overview

On the options front, the maximum Call OI is placed at 24400 and then towards 25000 strikes while the maximum Put OI is placed at 24300 and then towards 24400 strikes.

Call writing is seen at 24400 and then towards 24850 strikes while Put writing is seen at 24300 and then towards 24350 strikes.

“Options data suggests a broader trading range between 23,800 to 24,800, with an immediate range between 24,100 to 24,600 levels,” said Chandan Taparia, Analyst - Derivatives at Motilal Oswal Financial Services Ltd.

“Nifty formed a bullish candle on the daily chart on Wednesday and managed to close above the 24,400 mark. However, it has been forming lower highs for the last three sessions. While support-based buying is intact, the index is lacking follow-up strength at higher levels,” he added.

“Now, the index must hold above 24,400 to gain strength toward 24,650 and then 24,750 levels, while support is seen at 24,200 and then 24,050,” Taparia recommended.

Stocks to Watch for Short-Term Traders

Expert: Jaynit Vora, CMT – Research Analyst, IIFL (to ETBureau)

Power Grid: Buy | Target: Rs 326 | Stop Loss: Rs 301

Marico: Buy | Target: Rs 778 | Stop Loss: Rs 706

Kaynes Technology India: Buy | Target: Rs 6,180 | Stop Loss: Rs 5,580

Expert: Kunal Bothra – Market Expert (to ET Now)

AU Small Finance Bank: Buy | Target: Rs 705 | Stop Loss: Rs 670

Muthoot Finance: Buy | Target: Rs 2,375 | Stop Loss: Rs 2,270

Samvardhana Motherson International: Buy | Target: Rs 150 | Stop Loss: Rs 137


(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times)