
Three stocks to buy today: Ankush Bajaj's top recommendations for 8 December
Subscribe to enjoy similar stories. Stock market recap: A 25-basis-point rate cut by the Reserve Bank of India (RBI) and the central bank's proposal for a ₹1.45 trillion liquidity infusion through bond purchases and dollar-rupee swaps boosted domestic market sentiment, helping the benchmarks end with decent gains on Friday, 5 December. Extending gains to the second consecutive session, the Sensex ended the day with a healthy gain of 447 points, or 0.52%, at 85,712.37, while the Nifty 50 settled at 26,186.45, up 153 points, or 0.59%.
The BSE Midcap index ended with a modest gain of 0.21% but the Smallcap index fell 0.67%. Gains in large and mid-caps lifted the overall market capitalisation of BSE-listed firms to nearly ₹471 trillion, making investors richer by about ₹1 lakh crore in a session. Why it’s recommended: Ashok Leyland is displaying strength after rebounding from its recent support zone near ₹158.50.
The stock is attempting to break above a short-term consolidation range, supported by steady volumes and positive momentum. With bullish undertones in the broader auto sector, the stock appears poised for a near-term move toward ₹165.50. Technical View: Holding above ₹158.50 will keep the short-term uptrend intact, with immediate resistance seen at ₹165.50.
A close above ₹161 may confirm a bullish continuation pattern. Risk Factors: Auto sector sensitivity to fuel price changes, commercial vehicle demand, and policy shifts could affect performance. Buy at: ₹160.85 Stop loss: ₹158.50 Target price: ₹165.50 Why it’s recommended: Asian Paints is attempting a recovery after consolidating in a tight range.
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