Market expert Raja Venkatraman of NeoTrader has recommended three stocks for trading on May 8, 2026. According to his technical analysis, the stocks show promising setups with clear entry points and risk management levels. The recommendations include Sun Pharma Advanced Research Co. Ltd. (SPARC) with a buy above ₹169, Laxmi Organic Industries Ltd. (LXCHEM) above ₹165, and One 97 Communications Ltd (PayTM) above ₹1,200.
On May 7, 2026, Indian equity markets ended marginally lower after another volatile session, as reported by Mint. The Sensex declined 114 points or 0.15% to 77,844.52, while the Nifty edged down 4.30 points or 0.02% to settle at 24,326.65. Despite the benchmark decline, the Nifty Midcap Index surged 1.1% to a fresh peak of 62,094.40, while the Smallcap Index also registered gains, reflecting strong investor appetite beyond large-cap space.
According to NeoTrader's analysis, the stocks show different risk profiles and technical setups. SPARC has a 52-week high of ₹204.25 with volume of 7.23M, while LXCHEM shows a P/E ratio of 53.19 with 52-week high of ₹240.60. PayTM demonstrates strong volume activity with 14.26M and has a 52-week high of ₹1,381.75. The recommendations include specific stop-loss levels and target prices, with each stock showing different risk factors including debt levels, raw material volatility, and regulatory concerns.
As reported by Mint, the market expert notes that trends are looking positive but unable to take initiative, making trading cumbersome. The 24,000 level remains a key resistance that continues to generate bullish bias, though the market faces challenges from lack of clarity. The analysis suggests that while a revival is evident, markets need to maintain momentum to sustain higher levels, with volatility expected to continue in the near term.
