The main Indian stock indexes fell about 1% on January 8, marking the fourth straight losing day as more stocks fell than rose.
Market outlook
Analysts expect the market to trade in a narrow range for the next few days after the recent correction.
Short‑term buying ideas
Alkem Laboratories
Alkem is moving inside a downward‑sloping channel that sits within a longer‑term uptrend. A strong green candle broke above the channel’s upper line, hinting that the bullish trend could resume.
- Action: Buy
- Target: ₹6,050
- Stop‑Loss: ₹5,550
Supriya Lifescience
The stock is forming a rising channel, showing higher lows and steady buying interest. A bounce from the lower edge around ₹720–730 suggests demand is holding.
- Action: Buy
- Target: ₹830
- Stop‑Loss: ₹730
Emcure Pharmaceuticals
Emcure has posted higher lows after breaking out of a recent consolidation. The move above ₹1,470‑1,500 signals renewed buying pressure.
- Action: Buy
- Target: ₹1,650
- Stop‑Loss: ₹1,430
Indus Towers
Indus Towers is making higher highs and higher lows, staying above key moving averages. A steady RSI near 61 shows the uptrend still has strength.
- Action: Buy
- Target: ₹458
- Stop‑Loss: ₹414
Ramco Cements
Ramco is holding above its short‑term averages and forming higher lows. The stock is near the ₹1,080‑1,090 resistance zone.
- Action: Buy
- Target: ₹1,160
- Stop‑Loss: ₹1,040
Endurance Technologies
After a long correction, Endurance is slowly climbing above the ₹2,550‑2,580 area. Momentum is improving, though the RSI is still modest.
- Action: Buy
- Target: ₹2,750
- Stop‑Loss: ₹2,530
GMR Airports
GMR Airports is in an uptrend with higher highs and lows. It broke out of a cup‑like pattern in November and has been trading above all major averages.
- Action: Buy
- Target: ₹115
- Stop‑Loss: ₹94.60
Titan Company
Titan showed a breakaway gap with higher volume and is now well above its all‑time highs. All major averages are supportive.
- Action: Buy
- Target: ₹4,500
- Stop‑Loss: ₹4,075
Torrent Pharmaceuticals
Torrent broke out of a box‑like consolidation and is making higher highs across timeframes. The stock stays above key averages.
- Action: Buy
- Target: ₹4,250
- Stop‑Loss: ₹3,870
Remember, this is just an opinion, not a guarantee. Do your own research before making any trade.