Raja Venkatraman, MarketSmith recommend five stocks for 11 May
The Indian stock market saw losses on 8 May, with Sensex down 516 points and Nifty 50 down 151 points due to banking stock weakness. Analysts suggest buying Metropolis Healthcare, Bharat Forge, and Timken India based on recovery trends and market analysis.
Stocks to buy on 11 May: The benchmark indices, the Sensex and Nifty 50, extended their losses for a second straight session on Friday, 8 May, weighed down by weakness in banking and financial stocks.
The Sensex fell 516 points (0.66%) to close at 77,328.19, while the Nifty 50 declined 151 points (0.62%) to settle at 24,176.15.
Selling pressure was led by heavyweight lenders, including State Bank of India, HDFC Bank, ICICI Bank, and Axis Bank, which emerged as the top drags on the Sensex. Overall, 18 of the 30 index constituents ended in the red.
Quick answers to key questions
Raja Venkatraman recommended buying Metropolis Healthcare Ltd, Bharat Forge Ltd, and Timken India Ltd for trading on May 11.
Metropolis Healthcare Ltd has a P/E of 81.36, a 52-week high of ₹564.83, and a volume of 9.34M. Its support is at ₹500 and resistance at ₹650.
Raja Venkatraman recommends buying Bharat Forge Ltd above ₹1,993, with a stop loss at ₹1,990 and a target price of ₹2,175 for a multiday trade.
Risk factors for Timken India Ltd include regulatory hurdles, intense competition, and questions regarding the sustainability of its profitability.
MarketSmith India's technical analysis for eClerx Services Ltd indicates that it has reclaimed its 50 DMA with above-average volume.
In contrast, broader markets showed relative resilience. The BSE Midcap index edged down 0.05%, while the BSE Smallcap index managed a modest gain of 0.15%, continuing its outperformance trend.
Despite the weakness in frontline indices, the overall market capitalisation of BSE-listed companies remained largely steady at around ₹473 lakh crore, supported by strength in mid- and small-cap stocks.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart is showing a negative start for the Indian stock market today. By 7:34 AM, the Gift Nifty was trading around the 24,066 level, a discount of 169 points from the Nifty futures’ previous close of 24,234.60.
Decoding the impact of Gift Nifty live chart and other triggers on Dalal Street, Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm, said that the Indian equity markets are likely to trade with a cautious undertone, as investors continue to navigate evolving geopolitical developments and mixed global cues.
Fresh concerns emerged after Donald Trump reportedly dismissed Iran’s response to the latest US peace proposal as “totally unacceptable,” dampening hopes of an immediate diplomatic breakthrough. The development has once again brought the Strait of Hormuz and broader risks of supply disruption in global energy markets back into focus.
Crude oil prices remain elevated, currently trading in the $97–99 range, as markets continue to price in persistent geopolitical uncertainty and supply-side risks linked to Middle East tensions. Elevated energy prices are keeping inflationary pressures and currency-related concerns firmly on the radar for emerging markets, including India.
Stocks to buy today
Regarding stocks to buy today — Raja Venkatraman is Co-founder of NeoTrader, and stock research platform MarketSmith India, recommended buying these five shares - Metropolis Healthcare Ltd, Bharat Forge Ltd, Timken India Ltd, eClerx Services Ltd, and Action Construction Equipment Ltd.
Metropolis Healthcare Ltd: Buy above ₹555, stop ₹530, target ₹620 (Multiday)
Why it’s recommended: Metropolis Healthcare Limited offers diagnostics including blood tests, advanced molecular diagnostics, genomics, and hospital laboratory management. After spending the last 9 months in a declining phase the stock lost the momentum till the Pharma sector picked up once again. In the recent V shaped recovery, a strong thrust with volumes sparks a revival above the value area at 510. The long body candle with volumes signals the onset of a new trend in 2026. A promising long body candle to end the previous trading session suggest us to go long.
Key metrics:
P/E: 81.36
52-week high: ₹564.83,
Volume: 9.34M
Technical analysis: Support at ₹500, resistance at ₹650.
Risk factors: Intense competition, price capping and margin pressures.
Buy : above ₹555.
Stop loss: ₹530.
Target price: ₹620 (2 Months)
Bharat Forge Ltd : Buy above ₹1,993, stop ₹1,990, target ₹2,175 (Multiday)
Why it’s recommended: Bharat Forge Limited (BFL), part of the USD 3.5 billion Kalyani Group, is a Pune-based Indian multinational company and a global leader in high-performance, safety-critical components. Defence sector is in play and is showing some strong drive backed by some strong sales overseas. Robust recovery in Class-8 truck demand and healthy momentum in the domestic CV segment are expected to support growth. The thrust above 1950 region has now resulted into a strong upward traction. On successive days we have noted that the trends continue to retreat from higher levels. Look to go long now.
Key metrics:
P/E: 116.11,
52-week high: ₹2,025,
Volume: 3.4M.
Technical analysis: Support at ₹1,875, resistance at ₹2,250.
Risk factors: Raw material price volatility, cyclicality, and competition.
Buy : above ₹1,993
Stop loss: ₹1,990
Target price: ₹2,175 (2 Months)
Timken India Ltd : Buy above ₹3,600, stop ₹3,480, target ₹3,890 (Multiday)
Why it’s recommended: Timken India Limited (Timken India) is a prominent manufacturer and distributor of engineered bearings, industrial motion products, and specialized services, operating as a subsidiary of the U.S.-based The Timken Company. The steady rise seen in the prices forming higher lows is indicating that the long bias continues to hold. We are also noticing some steady volumes that is now helping the rise sustain the uncertain environment. With the momentum favouring the long side , consider going long.
Key metrics:
P/E Ratio: 62.80
52-week high: ₹3675
Volume: 107.65K
Technical analysis: Support at ₹3,200, resistance at ₹4,200.
Risk factors: Regulatory hurdles, intense competition, and questions regarding the sustainability of its profitability.
Buy : above ₹3,600.
Stop loss: ₹3,480.
Target price: ₹3,890.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
About the Author
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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