Here are three stocks to trade, as recommended by Raja Venkatraman for Friday, 9 May:

ACC Ltd: Sell rally to ₹1,850 | Stop ₹1,880 | Target ₹1,750-1,675

Bharti Hexacom Ltd: Buy above ₹1,730 and dips to ₹1,650 | Stop ₹1,625 | Target ₹2,045-2,150

Kirloskar Brothers Ltd: Buy above ₹1,850 on dips to ₹1,800 | Stop ₹1,770 | Target ₹1,900-1,945

Stock market on 8 May

The market kicked off the session with an uninspired tone, meandering within a tight range for most of the day. Just when traders were settling into the lull, a sudden wave of selling pressure hit, sparked by unsettling news of escalating India-Pakistan tensions. This abrupt shift triggered widespread liquidation across various sectors, sending the Index tumbling into the red. By the closing bell, it had shaved off 140.60 points, settling at 24,273.80.

Among the sectors, only IT and Media showed resilience, managing to cling to gains, while Realty and Metal bore the brunt of the downturn. Midcap and smallcap stocks took an even heavier beating, each shedding over 1% and lagging behind the broader benchmark index.

Despite the dramatic intraday slide, the index remains boxed within its established range of 24,250-24,500, waiting for a definitive push in either direction to set the stage for the next major move. Traders now await that pivotal breakout, which will determine whether sentiment swings toward recovery or deeper correction.

Outlook for trading

Currently, the market is stressed at higher levels as there are no encouraging triggers that can help the markets move confidently higher. The lack of participation that is being constantly demonstrated highlights that the trends are getting tired. With the constant geopolitical tensions that have been emanating since April began, the possibility of continued volatility is very much on the cards. At the moment, there are no cues that are emerging that can help to give us a hint of the near-term volatility that one can expect.

In the last issue, we highlighted the importance of the 24300-24200 zone. The range is getting tighter, and the readings from the Option Data suggest that PCR has moved to 0.96, highlighting that the trends are witnessing a sell-off at every rise. We observe that the Call Writing has shifted lower now to 24400. Also, we can witness a sharp market decline in the second half of the trading session and volatility in the rupee.

Despite the best intentions, the market is unable to conjure up enough strength to continue its upward march. With the 24300 zone now to be held, we can expect the momentum to rise as long as this level is not violated. The steady attempt to buy on every dip has once again given people a reason to hold on to the bullish side of the markets for now. With no clarity on the future course of action, we should be looking at participating with a neutral bias.

Trends remain two-phased and require us to balance both sides of the trend. Hence, the situation demands a pragmatic approach to benefit from market participation.

The earnings season is underway, but with the global impact of the worrying macro factors driving up the volatility, we need to see how to navigate the current trends. While the market continues to offer umpteen opportunities, sector rotation will be at work, and hence, we have selected candidates that are displaying steady action from both sides until new signals to the contrary emerge.

Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:

ACC (Cmp 1801.60)

Sell rally to ₹1,850 | Stop ₹1,880 | Target ₹1,750-1,675

Why it’s recommended: ACC has faced margin pressures due to fluctuating raw material costs, heightened competition in the infrastructure sector, and demand volatility in real estate. Despite these challenges, steady urbanisation and government-led infrastructure projects continue to support long-term growth prospects.

Key metrics: P/E: 28 | 52-week high: ₹2,750 | Volume: 1.5M

Technical analysis: Support at ₹1,600 | Resistance at ₹1,900.

Risk factors: Rising transportation costs, regulatory shifts in construction norms, and price sensitivity in bulk contracts.

Sell: Rally to ₹1,850.

Target price: ₹1,750-1,675 in one month.

Stop loss: ₹1,880.

BHARTI HEXA (Cmp 1730)

Buy above ₹1,730 and dips to ₹1,650 | Stop ₹1,625 | Target ₹2,045-2,150

Why it’s recommended: Bharti Hexa remains a key player in telecom, benefiting from increasing data consumption and strong subscriber additions. However, industry-wide concerns about tariff hikes, competitive pricing wars, and 5G rollout costs weigh on the stock.

Key metrics: P/E: 25 | 52-week high: ₹1,752 | Volume: 535.18K

Technical analysis: Support at ₹1,290 | Resistance at ₹2,150.

Risk factors: Spectrum costs, regulatory changes, and competition from new entrants.

Buy: Above ₹1,730 and dips to ₹1,650.

Target price: ₹2,045-2,150 in one month.

Stop loss: ₹1,625.

KIRLOSBROS (Cmp 1840)

Buy above ₹1,850 on dips to ₹1,800 | Stop ₹1,770 | Target ₹1,900-1,945

Why it’s recommended: KirlosBros has maintained steady growth, driven by robust demand for industrial pumps and engineering solutions. However, exposure to cyclical industrial demand, rising input costs, and supply chain constraints could pose challenges.

Key metrics: P/E: 42 | 52-week high: ₹2,637 | Volume: 194.6K

Technical analysis: Support at ₹1,600 | Resistance at ₹2,190.

Risk factors: Commodity price fluctuations, logistics disruptions, and macroeconomic uncertainties.

Buy: Above ₹1,850 and dips to ₹1,800.

Target price: ₹1,900-1,945 in one month.

Stop loss: ₹1,770.

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.