On May 8, 2026, Indian equity benchmarks faced a downturn, with the BSE Sensex closing 516 points lower at 77,328.19 and the NSE Nifty 50 dropping 151 points to 24,176.15. The decline was largely driven by significant weakness in banking and financial stocks, particularly the Nifty PSU Bank index, which fell 3.06%. Despite the overall market decline, technology stocks provided some support, with the Nifty IT index rising 1.21%. Sumeet Bagadia, Executive Director at Choice Broking, noted bearish candlestick patterns indicating sustained selling pressure. He identified immediate support levels for the Nifty between 24,000 and 24,080, while resistance lies between 24,330 and 24,400. Bagadia also highlighted the Bank Nifty's challenges, suggesting immediate support in the 54,800–55,000 range. Amid these market conditions, he recommended three stocks for investors: Adani Ports, Torrent Pharma, and GMR Airports. Adani Ports is noted for its strong bullish structure, trading near its lifetime high, with a target price of ₹1900. Torrent Pharma also shows a solid bullish setup with a target of ₹4650, while GMR Airports has broken above a long-term resistance trend-line, aiming for a target of ₹108. Investors are advised to remain cautious and selective in their trading strategies.