The Indian stock market is expected to open lower on Friday, following weak global market cues on escalating US-Iran war tensions. According to reports from Livemint, the Gift Nifty was trading around 24,261 level, a discount of nearly 122 points from the Nifty futures' previous close. In the previous session, the Indian stock market ended with minor losses amid volatility, with the Nifty 50 holding above 24,300 level. The Sensex fell 114.00 points, or 0.15%, to close at 77,844.52, while the Nifty 50 settled 4.30 points, or 0.02%, lower at 24,326.65.
According to reports from Livemint, Chandan Taparia of Motilal Oswal Financial Services has recommended three stocks to buy today, 8 May 2026. The recommendations include Bharat Dynamics with a target price of ₹1,550 and stop loss of ₹1,420, CG Power and Industrial Solutions for a target of ₹910 with stop loss at ₹830, and RBL Bank with target of ₹365 and stop loss at ₹333. Taparia's analysis suggests these stocks present buying opportunities based on technical indicators and market trends.
As reported by Livemint, Nifty 50 formed a bearish candle on the daily frame with longer upper shadow indicating some profit booking at higher zones. Taparia noted that Nifty 50 needs to hold above 24,300 for an up move towards 24,500 then 24,700 zones, with supports at 24,200 and 24,100 zones. For Bank Nifty, the index gained 66.35 points, or 0.12%, to close at 56,047.40, forming a small bodied candle as buying interest is visible at lower levels but hovering below its 200 DEMA. The maximum Call Open Interest is at 24,500 then 24,400 strike, while maximum Put OI is at 24,200 then 24,100 strike.
According to Livemint, Bharat Dynamics share price has given consolidation breakout on daily chart and managed to close above the same. The stock has formed a strong bullish candle and base is shifting higher with buying visible across Defence theme. Taparia's analysis shows that mechanical indicator RSI is positively placed, supporting the ongoing up move. The recommendation is based on the stock's technical strength and sector-specific momentum in the defence sector.
As reported by Livemint, CG Power share price is in overall uptrend and holding gains at higher levels, giving Flag breakout on daily chart with noticeable volumes. The MACD indicator is rising which confirms the bullish momentum. For RBL Bank, the share price has given range breakout on daily chart and formed a strong bullish candle, trading above all crucial moving averages. Taparia noted that ADX is rising which implies that ongoing uptrend has strength, supporting the positive outlook for both stocks in their respective sectors.
