Top stock market recommendations: Aakash K Hindocha, Deputy Vice President – WM Research, Nuvama Professional Clients Group has picked Godrej Properties, V-Mart Retail, and Dr Reddy’s Laboratories as the top stock recommendations for May 7, 2026. The analyst has also shared his outlook for Nifty, Bank Nifty. Let’s take a look:Index View: NiftyThe index has broken out of its consolidation band of 23750 – 24300 as global news flow acted as a tailwind in the second half of yesterday’s session. 24000 is now likely to act as base for an up move towards 24770 / 25000. A 2 week range has broken out, and initial upside can unfold for a target of 500 points higher.Bank NiftyBank Nifty as well has broken out from its sideways one-week range, the index had been underperforming for the past 1 week to Nifty while that underperformance seems to be ending now. The ongoing leg can now open for another 1000 pt upside for a target of 57100 odd.
Stock recommendations:
Godrej Properties (BUY):
- LCP: 1867
- Stop Loss: 1750
- Target: 2080
Godrej Properties is on the verge of an 18-month sloping trendline breakout which could potentially mark an end to its ongoing 6 quarter correction which eroded over 50% of market value from its all-time highs. Stock is likely to gain further traction given its weightage on the Nifty Realty index and strength across the board on the index. Nifty realty is by far the best sectoral index on percentage gain from turf to current highs in this broader market recovery started from fiscal 2027.V-Mart Retail (BUY):
- LCP: 650
- Stop Loss: 610
- Target: 714
An inverted head and shoulder pattern has broken out on daily charts of VMART. This is a textbook style formation given both shoulders in the pattern have spent an equal amount of time in its formation before breaking out. Stock has also closed at a 12 week high yesterday with results due today, expectations have built up on the counter while price action suggests a northward continuation to unfold.Dr Reddy’s Laboratories (BUY):
- LCP: 1311
- Stop Loss: 1265
- Target: 1420
The stock has broken out from its18-month consolidation on weekly charts with it completing its retest of the breakout as well. With Nifty Pharma index making a fresh all time high, a strong tailwind on all of its components are here to play. DRREDDY has ~10% weightage on the index and its rising 200 DMA is likely to act as a smoothened support going forward. Strong traction is likely to unfold once the stock starts trading above the 1325-1330 zone. (Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)
