Recommended stocks to buy today: Top stock picks by market experts for 8 May

After a shaky start and indications of a sharp 1% gap-down, both benchmark indices swiftly recovered, with the Nifty 50 ending up 0.14% at 24,414.40 and the Sensex gaining 106 points to close at 80,746.78. 

The India VIX spiked 4% intraday, reflecting elevated volatility, but cooled to end just 0.3% higher. Market sentiment was supported by gains in defence and textile stocks, positive cues from the India-UK trade deal, strong foreign inflows, and optimism around Tata Motors’ restructuring. 

Meanwhile, the rupee weakened 0.47% to 84.84 per US dollar, while 10-year bond yields eased slightly to 6.338%.

Top three stocks to buy today, recommended by Ankush Bajaj:

Buy: Marico Ltd (current price: ₹736.35)

• Why it’s recommended: Stock is trading at 52-week and lifetime high level. Also, on daily RSI is trading above 60 and on lower time frame yesterday stock has made open low and we have seen a good up move. Expecting this trend to continue.
• Key metrics: Resistance level: ₹755 (swing resistance), Support level: ₹725 (recent minor base), Pattern: Breakout to new highs with open-low confirmation, Volume: Healthy accumulation seen on breakout sessions
• Technical analysis: Price is trading above all key moving averages with no overhead resistance. Bullish RSI, breakout from consolidation, and open-low setup all point to continued momentum.
• Risk factors: A breakdown below ₹725 could invalidate the bullish setup. Broader market weakness or sudden FMCG sector correction may also impact the trade.
• Buy at: ₹736.35
• Target price: ₹750– ₹755 in 1 week
• Stop loss: ₹725

Read this | Operation Sindoor: What's next for Indian defence stocks?

Buy: Bharti Airtel Ltd (current price: ₹1,897)

• Why it’s recommended: On hourly chart, stock has formed bullish pennant pattern at ₹1,878 level and its final target comes around ₹2,100+ level. In lower time frame, after breaking yesterday's low, stock has retested support zone again. Expecting a bullish trend to continue.
• Key metrics: Resistance level: ₹1,955 (swing resistance), Support level: ₹1858 (recent support zone), Pattern: Bullish pennant breakout, Volume: Stable with rising trend near support
• Technical analysis: Stock is trading above key moving averages with strong bullish structure. Price action near support and formation of bullish pennant indicate continuation of the uptrend.
• Risk factors: Breakdown below ₹1858 may invalidate the setup. Market-wide volatility or sector weakness can affect price action.
• Buy at: ₹1,897
• Target price: ₹1,940– ₹1,955 in 1 week
• Stop loss: ₹1,858

Buy: Poly Cab Ltd (current price: ₹5,886)

• Why it’s recommended: On daily chart, stock has formed double bottom at ₹4,560 level and after that trending up towards the target of ₹6,000+. Also, in lower time frame we have seen a selling in price and this stock might take support of ₹5,825 levels and we can see a bounce back till ₹6,000+ levels.
• Key metrics: Resistance level: ₹6,030 (swing resistance), Support level: ₹5,825 (recent support zone), Pattern: Double bottom breakout, Volume: Strong volume during breakout from base
• Technical analysis: Price is trending upward above all major moving averages. Double bottom pattern and pullback to support zone suggest a continuation toward the breakout target.
• Risk factors: Breakdown below ₹5,825 with strong volume may invalidate the setup. Broader market correction could affect price action.
• Buy at: ₹5,886
• Target price: ₹6,030 in 1 week
• Stop loss: ₹5,828

Three stocks to trade today, recommended by NeoTrader’s Raja Venkatraman

Astral (Cmp 1287.40)

Sell below ₹1,280 and rallies to ₹1,310, stop ₹1,330, target ₹1,200-1,150

• Why it’s recommended: Astral stock has faced pressure due to concerns around demand fluctuations in the building materials sector, rising raw material costs, and competitive pricing dynamics. While the company has maintained strong revenue growth, profitability has been hit by elevated operational costs and mixed performance across segments.
• Key metrics:

P/E: 50

52-week high: ₹2,357

Volume: 1.1M

• Technical analysis: Support at ₹1,100, resistance at ₹1,325
• Risk factors: Exchange rate fluctuations, crude oil price fluctuations, and real estate market conditions
• Sell: Below ₹1,280 and rallies to ₹1,310.
• Target price: ₹1,125-1,090 in one month
• Stop loss: ₹1,330

RRKABEL (Cmp 1231.30)

Buy at CMP and dips to ₹1,205, stop ₹1,190, target ₹1,325-1,375

• Why it’s recommended: RRKABEL has demonstrated strong revenue growth, particularly in its wires and cables segment, and is expected to continue its upward trajectory.Firm buying emerged after the company reported a 64% YoY increase in its profit in Q4 FY25 at ₹129.1 crore. The company had earned a net profit of ₹78.7 crore in Q4 FY24.
• Key metrics:

P/E: 42

52-week high: ₹2,348.75

Volume: 890K

• Technical analysis: Support at ₹1,078, resistance at ₹1,400
• Risk factors: Supply chain disruptions, raw material price fluctuations, and potential inadequacy of insurance coverage
• Buy at: CMP and dips to ₹1,205
• Target price: ₹1,325-1,375 in one month
• Stop loss: ₹1,190

Piramal Enterprises Ltd (Cmp 1034.60)

Buy on dips to ₹995, stop ₹970, target ₹1,100-1,145

• Why it’s recommended: The company missed estimates in Q4 but the market has absorbed the negative commentary and the stock is seeing some strong buying interest. As there is no visible erosion in prices post-consolidation, we can look for some trend moves in the coming days.
• Key metrics:

P/E: 45.39

52-week high: ₹1,275

Volume: 1.03M

• Technical analysis: Support at ₹900, resistance at ₹1,200
• Risk factors: Asset quality issues, rising cost of funds, and regulatory changes
• Buy on: Dips to ₹995
• Target price: ₹1,100-1,145 in one month.
• Stop loss: ₹970

Also read: BSE, NSE cut website access outside India ahead of ‘Operation Sindoor’

Two stock recommendations by MarketSmith India:

SRF (current price: ₹3,055)

• Why it’s recommended: Strong position in specialty chemicals, capacity expansion
• Key metrics: P/E: 75.68; 52-week high: ₹3,085.00; volume: ₹285.36 crore
• Technical analysis: Tight area breakout
• Risk factors: Raw material price volatility, competition
• Buy at:  ₹3,055
• Target price:  ₹3,390 in three months
• Stop loss:  ₹2,890

Also read: Marico’s margin pain will linger for some time

Cholamandalam (current price: ₹1,574)

• Why it’s recommended: Strong presence in vehicle finance, healthy asset quality
• Key metrics: P/E: 30.21; 52-week high: ₹743; volume: ₹384.38 crore
• Technical analysis: Cup with handle breakout
• Risk factors: Interest rate risk, competition from banks and fintechs
• Buy at:  ₹1,574
• Target price:  ₹1,790 in three months
• Stop loss: ₹1,465

Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

MarketSmith India: Trade name: William O'Neil India Pvt. Ltd. Its Sebi-registered research analyst registration number is INH000015543.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions."