Stocks to Buy Today: RIL, IOC Among Top 10 Trading Ideas for July 8, 2025
By ETMarkets.com | Last Updated: July 8, 2025, 09:34 AM IST
Indian stock markets are expected to remain in a consolidation phase on Tuesday, July 8, 2025, as domestic benchmarks respond to mixed signals from global markets. The Nifty futures closed with modest gains at 25,541 levels on Monday, indicating cautious optimism among traders. Meanwhile, India VIX — a gauge of market volatility — rose by about 2%, settling at 12.56, reflecting slightly increased uncertainty in market sentiment.
Market Overview and Technical Insights
Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, emphasized the widening trading range based on options data. The maximum open interest (OI) for Call options is seen at the 25,500 and 26,000 strike prices, whereas key Put OI levels are at 25,400 and 25,300 strikes. Additionally, call writing activity is concentrated near 25,500 and 25,600 strikes, with put writing around 25,400 and 25,300 strikes.
According to Taparia, “Options data suggests a broader trading range between 25,000 and 26,000, with an immediate focus on a narrower band of 25,300 to 25,700 levels.” He further noted that the Nifty formed a small-bodied candlestick on Monday, signaling indecision but negated the recent pattern of lower highs, which hints at potential stability.
On the upside, a sustained breakout above 25,500 could push the index toward 25,650 and 25,800 levels. Conversely, failure to hold these levels might trigger a retracement to 25,350 and 25,222 zones.
Expert Stock Recommendations for Short-Term Traders
For traders with a short-term horizon, experts have identified several stocks that present compelling buying opportunities, complete with target prices and stop-loss levels to manage risk effectively.
From Dharmesh Shah, Head of Technical Research at ICICI Securities:
- Reliance Industries Limited (RIL): Buy with a target of ₹1,615 and stop loss at ₹1,494
- Indian Oil Corporation (IOC): Buy with a target of ₹164 and stop loss at ₹147
- CESC Limited: Buy with a target of ₹191 and stop loss at ₹174
From Kunal Bothra, Market Expert at ETNow:
- Sun Pharmaceutical Industries: Buy with a target of ₹1,710 and stop loss at ₹1,650
- Apollo Tyres: Buy with a target of ₹480 and stop loss at ₹450
- CESC Limited: Buy with a target of ₹188 and stop loss at ₹176
From Sharan Lillaney, Independent SEBI Research Analyst:
- Britannia Industries: Buy with a target of ₹6,024 and stop loss at ₹5,744
- ICICI Prudential Life Insurance: Buy with a target of ₹696 and stop loss at ₹636
- Voltas Limited: Buy with a target of ₹1,405 and stop loss at ₹1,325
Summary
The Indian market’s cautious stance reflects global uncertainties, with a likely consolidation near current levels. Traders should monitor breakout points around Nifty’s 25,500 mark for directional cues. Meanwhile, the recommended stocks from reputed experts offer avenues for short-term gains, provided traders adhere to suggested targets and stop-losses to safeguard investments.
Disclaimer: The stock recommendations and views expressed by experts are their own and do not represent the views of The Economic Times. Investors should conduct their own due diligence before making investment decisions.
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