Stocks to buy: Two stock recommendations from MarketSmith India for 8 January
Live MintNifty 50, India’s benchmark index, closed 92 points higher on Tuesday, ending its two-day losing streak to settle at 23,207.90. Read this | Viral fear, growth blues stalk Street Technically, the Nifty failed to sustain above its 200-day moving average and hovers slightly above a key support level—an upward-sloping trendline connecting the lows of 21 November and 31 December 2024. The index opened with a gap-up at 50,061.20, traded within a narrow range of 49,969–50,447.60, and ended the session forming a small bullish candle with a long shadow, indicating profit booking at higher levels. According to O'Neil's market direction methodology, the status has shifted to a Downtrend as the Nifty breached its 200-DMA and is trading below all key moving averages with a negative bias. Stocks to buy, recommended by MarketSmith India: ● Biocon Ltd: Current market price ₹ 382.35 | Buy range ₹ 370–385 | Profit goal ₹ 458 | Stop loss ₹ 348 | Timeframe 2–3 Months ● Minda Corp.: Current market price ₹ 530.50 | Buy range ₹ 518–534 | Profit goal ₹ 640 | Stop loss ₹ 480 | Timeframe 2–3 Months Disclaimer: The views and recommendations given in this article are those of individual analysts.