Stocks to BUY Today, August 7: The Indian stock market is expected to start on a flat note on Friday (August 7) after ending the previous session on a positive note, as indicated by the GIFT Nifty. As of 8:15 a.m. IST, the GIFT Nifty was trading steady at 24,650.
The GIFT Nifty is a pre-market indicator for the Nifty 50 and often signals whether the benchmark index is likely to open higher, lower, or flat based on global market cues.
Ahead of the session, SEBI-registered research analyst Kunal Bothra has recommended a few stocks that could potentially generate gains for investors during today’s trading session.
Stocks to Buy
Here are the top stock picks suggested by Kunal Bothra, along with their target prices and stop-loss levels:
Nifty Levels to Watch
Ahead of today’s trading session on the NSE, the analyst has identified the following key support and resistance levels for the Nifty 50:
- Support: 24,000
- Resistance: 24,700
Asian Markets Today
Asian markets traded lower on Friday (August 7), with most major indices posting losses.
Japan’s Nikkei 225 slipped over 1 per cent to 64,961. South Korea’s KOSPI traded about 1.5 per cent lower at 6,204.42, while Hong Kong’s Hang Seng edged 0.2 per cent lower to 25,468.
Meanwhile, China’s Shanghai Composite rose 0.5 per cent to 3,918.06.
Stock Market on August 6
Benchmark indices Sensex and Nifty ended higher on Thursday, supported by lower crude oil prices and buying in Reliance Industries. The benchmark indices have shown divergent movements since Monday after stock exchanges introduced a new auction mechanism for shares with futures and options (F&O) contracts.
The Nifty Bank index, which tracks the performance of the country’s top 12 listed banks, gained 323.70 points, or 0.56 per cent, to close at 58,063.65.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
