Indian markets are expected to consolidate on Thursday, May 8, 2025, amid mixed global cues. Nifty futures closed at 24,472 with modest gains, while India VIX edged up to 19.06. Options data suggests a broader range of 23,800–24,800. Analysts highlight key support at 24,200 and resistance near 24,750. Experts recommend stocks like Power Grid, Marico, AU Small Finance Bank, and Muthoot Finance for short-term gains.

According to Chandan Taparia, Analyst - Derivatives at Motilal Oswal Financial Services Ltd., options data indicates a trading range between 23,800 to 24,800, with an immediate range between 24,100 to 24,600 levels. Taparia noted that Nifty formed a bullish candle on the daily chart and closed above 24,400, but has been forming lower highs for the last three sessions. He recommends that the index must hold above 24,400 to gain strength toward 24,650 and then 24,750 levels, with support seen at 24,200 and then 24,050.

Jaynit Vora, CMT – Research Analyst at IIFL, recommends the following stocks:

• Power Grid: Buy at Target Rs 326, Stop Loss: Rs 301
• Marico: Buy at Target Rs 778, Stop Loss: Rs 706
• Kaynes Technology India: Buy at Target Rs 6,180, Stop Loss: Rs 5,580

Kunal Bothra, a Market Expert, recommends the following stocks:

• AU Small Finance Bank: Buy at Target Rs 705, Stop Loss: Rs 670
• Muthoot Finance: Buy at Target Rs 2,375, Stop Loss: Rs 2,270
• Samvardhana Motherson International: Buy at Target Rs 150, Stop Loss: Rs 137