Motilal Oswal Analyst Endorses Three Stocks for Investment

Indian Stock Market Expected to Open Lower on Friday Amid Global Market Volatility

The Indian stock market is anticipated to open lower on Friday, following weak global market cues on the escalating US-Iran war. The trends on Gift Nifty indicate a negative start for the frontline indices, Nifty 50 and Sensex, today. The Gift Nifty was trading around 24,261, 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. 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.

Nifty 50 Outlook

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

The Nifty 50 index formed a bearish candle on the daily frame with a longer upper shadow, indicating some profit booking at higher zones. According to Chandan Taparia, Head Derivatives & Technicals at Wealth Management, Motilal Oswal Financial Services, the Nifty 50 now needs to hold above 24,300 zones for an up move towards 24,500 then 24,700 zones, while supports have shifted higher to 24,200 then 24,100 zones.

Bank Nifty Outlook

The Bank Nifty index gained 66.35 points, or 0.12%, to close at 56,047.40 on Thursday, forming a small-bodied candle on the daily scale as buying interest is visible at lower levels but is hovering below its 200 DEMA. Taparia suggests that the Bank Nifty index now needs to hold above 56,000 zones for an up move towards 56,500 then 56,750 zones, while on the downside, support is seen at 55,750 then 55,500 levels.

Stocks to Buy

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Chandan Taparia has recommended three stocks to buy today, 8 May 2026.

Stock Analysis

• Bharat Dynamics: Taparia recommends buying Bharat Dynamics shares for a target price of ₹1,550 apiece, while maintaining a stop loss at ₹1,420 level. The stock has given a consolidation breakout on the daily chart and formed a strong bullish candle, with buying visible across the Defence theme.
• CG Power: Taparia suggests buying CG Power shares for a target price of ₹910 apiece, and keeping a stop loss at ₹830 level. The stock is in an overall uptrend, holding gains at higher levels, and has given a Flag breakout on the daily chart with noticeable volumes.
• RBL Bank: He has a 'Buy' call and RBL Bank share price target of ₹365 apiece, and a stop loss of ₹333. The stock has given a range breakout on the daily chart and formed a strong bullish candle, trading above all crucial moving averages, and supports are gradually shifting higher.