Market expert Raja Venkatraman of NeoTrader has identified three stocks for trading on May 7, 2026, following a strong market recovery. According to reports from Mint, the Nifty generated confidence after a sharp rebound that could fuel trends ahead. The recovery came after Indian equity benchmarks staged a sharp rebound on May 6, with the Sensex surging 940.73 points (1.22%) to close at 77,958.52 and the Nifty rallying 298.15 points (1.24%) to settle at 24,330.95. This rebound was driven by easing geopolitical tensions and a steep fall in crude prices, with oil prices declining 8%.
As reported by Mint, Venkatraman's recommendations include Godrej Industries Ltd with a buy above ₹1,025, stop loss at ₹975, and target of ₹1,150 for a multiday trade. Ajanta Pharma Ltd is recommended as a buy above ₹3,105 with stop loss at ₹2,980 and target of ₹3,375 for a multiday period. L&T Finance Ltd is suggested as a buy above ₹302 with stop loss at ₹288 and target of ₹331 for a multiday trade. According to the analysis, these stocks show promising technical patterns and support levels that align with current market conditions.
According to Mint reports, the market has managed to hold on to gains with the rebound showing signs of hope, with 24,000 as a key level that remains intact. Venkatraman noted that while a revival is evident, the market is still not out of the woods and this could be an intermittent rally. The expert highlighted that Federal Reserve policy measures are now coming into play, which could impact global markets and corporate earnings. Looking ahead, the analysis suggests that volatility will continue to be part of the overall environment and will need time to stabilize, with global factors including central bank policy decisions potentially influencing market direction.
As reported by Mint, the recommended stocks show varying risk profiles and technical metrics. Godrej Industries has a 52-week high of ₹1,391.50 with volume of 15.43M and technical support at ₹325. Ajanta Pharma shows a P/E ratio of 40.82 with 52-week high of ₹3,158.20 and volume of 758.18K. L&T Finance has a P/E ratio of 26.26 with 52-week high of ₹1,028.42 and volume of 8.85M. The technical analysis indicates specific support and resistance levels for each stock, with risk factors including high debt levels, interest coverage concerns, and heavy dependence on US markets for pharmaceutical companies.
