Stocks to buy today: Tata Steel, Maruti among top 6 trading ideas for 7 May 2025

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The Indian market is expected to consolidate on Wednesday amid rising geopolitical tensions between India and Pakistan.

On Tuesday, Nifty futures closed lower by 0.56% at 24,415. India VIX, a gauge of market volatility, rose over 3% to close at 19 in the previous session.


On the options front, the maximum Call Open Interest (OI) is seen at the 24,500 and 25,000 strike prices, while the maximum Put OI is at 24,400 and 24,000 strikes.

Call writing was observed at the 24,400 and 24,500 levels, while Put writing was seen at 24,400 and 24,200.


“Options data suggests a broader trading range between 23,800 and 24,800 zones, with an immediate range between 24,100 and 24,600,” said Chandan Taparia, Analyst–Derivatives at Motilal Oswal Financial Services.

“Nifty formed a bearish candle on the daily chart on Tuesday, closing with losses of around 80 points. The index has been forming lower highs for the past two sessions,” he added.“For strength to return, the index needs to cross and sustain above the 24,400 zone, which could take it toward 24,650 and then 24,750. On the downside, support is seen at 24,200 and then at 24,050,” Taparia said.

Stocks to watch for short-term trading, as per expert recommendations:


Expert: Jatin Gedia – Technical Research Analyst, Sharekhan by BNP Paribas (to ET Bureau)


Tata Steel Ltd: Buy | Target: Rs 150 | Stop Loss: Rs 141

Maruti Suzuki India Ltd: Buy | Target: Rs 12,950 | Stop Loss: Rs 12,360

Colgate Palmolive India Ltd: Buy | Target: Rs 2,721 | Stop Loss: Rs 2,585

Expert: Kunal Bothra – Market Expert (to ET Now)


ICICI Bank: Buy | Target: Rs 1,485 | Stop Loss: Rs 1,400

Narayana Hrudayalaya: Buy | Target: Rs 1,880 | Stop Loss: Rs 1,800

United Spirits Ltd: Buy | Target: Rs 1,620 | Stop Loss: Rs 1,555

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

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