According to Aakash K Hindocha, Deputy Vice President - WM Research, Nuvama Professional Clients Group, the top buy calls for January 8, 2026 remain ABB, Fortis, and Petronet despite current market weakness. As reported by Times of India, these recommendations come with specific technical analysis and price targets for each stock, even as the broader market shows signs of consolidation.
ABB India closed at ₹5,253, down ₹46 or 0.87% from the previous close of ₹5,299, according to the latest Nifty 500 data. Despite the intraday weakness, the stock maintains its BUY recommendation with Stop Loss at ₹5,130 and Target at ₹5,700. According to technical analysis reported by Times of India, the 10-week sideways consolidation has ended with ABB giving a bullish cup and handle breakout on daily charts. An intermediate resistance is seen just above ₹5,400 which is expected to be taken out given the underlying chart structure.
Fortis Healthcare carries a BUY recommendation with LCP at ₹941, Stop Loss at ₹914, and Target at ₹1,030. As reported by Times of India, the stock has recently taken support at the polarised trendline which has been playing for the past 12 months. Petronet LNG is also recommended as BUY with LCP at ₹294, Stop Loss at ₹283, and Target at ₹320. The analysis shows an initial breakout from a 15-month falling trendline was seen last month, allowing prices to trade above 200 DMA this week.
The Nifty 500 Index reflects broad-based market weakness with major constituents trading lower. Key stocks showing declines include Adani Enterprises down 1.94% at ₹2,230, Apollo Hospitals declining 1.43% to ₹7,341, and Happiest Minds Technologies falling 2.16% to ₹453.4. However, some stocks like Apollo Tyres gained 1.31% to ₹524.35 and Amara Raja Energy rose 0.17% to ₹921.05. Sectoral indices also showed weakness with MIDSEL down 1.28%, SMLSEL declining 1.29%, and UTILS falling 0.91%.
National Aluminium Company (NALCO) continues to witness significant futures and options activity for the January 27, 2026 expiry. The ₹340 strike price leads with 13,627,500 open interest, followed by ₹330 strike at 8,145,000 and ₹320 strike at 5,373,750. According to Moneycontrol data, other notable strikes include ₹325 at 4,425,000 and ₹335 at 4,413,750 open interest. The high activity across multiple strike prices indicates significant market interest in NALCO's near-term price movement amid the current market volatility.
