Market expert Raja Venkatraman of NeoTrader has identified three stocks for trading amid current market volatility. According to his latest recommendations, the Oil India Ltd is recommended as a buy above ₹435 with a stop loss at ₹415 and target price of ₹475 for a multiday trade. Similarly, Exide Industries Ltd is suggested as a buy above ₹455 with stop loss at ₹430 and target price of ₹505 for a multiday trade. The Dalmia Bharat Ltd recommendation carries a buy above ₹1,790 with stop loss at ₹1,730 and target of ₹1,925 over a two-month horizon.
On 8 July 2026, Indian equities faced a sharp sell-off with both the Sensex and Nifty 50 tumbling over 2%, marking their second straight day of losses after a four-session rally. As reported by NeoTrader, renewed geopolitical tensions weighed heavily on sentiment after US President Donald Trump declared the Iran peace memorandum "over," sparking fresh uncertainty. Brent crude surged 5.66% to $78.35 per barrel, raising concerns for India's import bill and inflation outlook. The India VIX jumped nearly 30% to 15.08, signaling heightened risk perception among investors. The BSE-listed firms' market capitalization slipped below ₹480 trillion, down from ₹482.3 trillion in the prior session, with midcap and smallcap indices extending their declines.
According to NeoTrader's technical analysis, Oil India Ltd shows strong technical indicators with P/E ratio of 15.72, 52-week high of ₹531, and volume of 6.24M. The stock is recommended for buy above ₹435 with support at ₹1,600 and resistance at ₹1,950. Exide Industries Ltd demonstrates a P/E ratio of 32.23, 52-week high of ₹431, and volume of 6.89M. The stock is recommended for buy above ₹425 with support at ₹400 and resistance at ₹550. Dalmia Bharat Ltd operates across 22 states with a P/E ratio of 682.97 and 52-week high of ₹1,294, showing strong institutional interest with 223,860 shares traded on the recommendation day.
As reported by NeoTrader, auto, realty, and pharma stocks saw strong upside while energy counters were disappointing as oil prices began to recede. The negative fallout from rising crude oil prices affected refineries and OMCs significantly. The Nifty trend reacted from strong resistance around 24,500, producing a pullback as steady profit booking emerged. Markets have indicated hesitation to build on gains made since April, with resistance levels coming into play to introduce pullbacks. The Sensex had settled at 78,180.72 and Nifty 50 at 24,398.70 in the previous session, but the escalation in rhetoric from Washington transformed what had been a cautious retreat into a full-blown rout.
