Stocks To Buy Today, Dec 8: Top 4 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Monday

Nifty ended the week on a positive note, strengthening a continuation structure that favors more upside and staging a gradual comeback from lower zones. With a noteworthy rebound from lower levels towards the end of the week and the reinforcement of a structure that still favors additional upside, Nifty Bank ended the week on a positive note. The announcement from the Monetary Policy Committee (MPC) came next. In the midst of these events, the benchmark index ended the week with a tiny 0.06% fall, bringing Nifty just below the 26200 mark. Markets will be eagerly monitoring India's CPI report on December 12.

Nifty Outlook Today

"Technically, Nifty delivered a breakout above the previous three-session range with a strong bullish candle, endorsing continued upside momentum. With the index reclaiming territory above 26,150-its earlier resistance zone now acting as support-an upward trajectory toward 26,350 has opened up. On the downside, the 25,900-25,800 band, aligned with the 0.382-0.50 Fibonacci retracement cluster, forms a solid demand pocket and a meaningful base for buyers," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"In the near term, 26,350 remains the immediate barrier to watch. A sustained move beyond this level would reaffirm bullish continuity. As long as the index holds above 25,800, any dip is likely to invite fresh buying interest. Momentum indicators echo this setup, with the 14-day RSI hovering near the 60 mark, signalling a strengthening of bullish momentum. Immediate resistance is placed at 26,350, while 25,800 continues to serve as a critical support zone," the analyst further added.

Bank Nifty Outlook Today

"Technically, Nifty Bank delivered a clear breakout above its previous three-session range with a strong bullish candle, confirming that momentum remains firmly on the upside. Having reclaimed levels above 59,500-an earlier resistance now turning into a support base-the index has opened the path toward 60,150. On the downside, the 59,000 zone, aligned with the 0.382 Fibonacci retracement area, forms a dependable demand pocket and a crucial support foundation for buyers," Dhupesh Dhameja commented.

"In the near term, 60,150 remains the immediate level to monitor. A sustained close above this threshold would further strengthen the trend and could drive an extension toward 60,500. As long as the index holds above the 59,000 demand band, any dip is likely to attract renewed buying interest. Momentum indicators reinforce this setup, with the 14-day RSI firmly in bullish territory above the 65 level, affirming continued strength. Immediate resistance stands at 60,150, while 59,000 remains the key support benchmark," he further stated.

Stocks To Buy Today

Technical analyst Riyank Arora of Mehta Equities Ltd. recommended buying four stocks on Monday, December 8, ahead of growing anticipation of a possible rate cut by the US Federal Reserve.

TeamLease Services

Buy | CMP: Rs 1,635.10 | SL: Rs 1,580 | Target: Rs 1,700 / Rs 1,760

TeamLease Services is showing steady accumulation after a prolonged consolidation phase, indicating strong institutional interest at lower levels. The stock has formed a higher-low pattern on the daily chart and is now trading above key short-term moving averages, signalling the beginning of a trend reversal. Momentum indicators, especially RSI, are showing early bullish traction and remain comfortably above midline levels. A breakout above ₹1,650 may reinforce buying strength and trigger a directional move. Sustaining above this zone opens room for a rally toward ₹1,700 and ₹1,760. Traders may accumulate with a protective stop-loss at ₹1,580.

Medi Assist Services

Buy | CMP: ₹470.05 | SL: ₹452 | Target: ₹490 / ₹510

Medi Assist Services is stabilising after a recent correction and has begun forming a strong base near the ₹450 zone. The stock is attempting to reclaim its short-term moving averages, which is often an early signal of trend improvement. Price action indicates buying interest returning at lower levels, supported by a steady uptick in momentum indicators. RSI is gradually curling upward, hinting that downside exhaustion is near. A sustained move above ₹475 could confirm a short-term breakout, opening the path toward targets of ₹490 and ₹510. Traders may consider long positions with a stop-loss at ₹452.

AWFIS Space

Buy | CMP: ₹492.50 | SL: ₹470 | Target: ₹515 / ₹540

AWFIS Space continues to show strong structural resilience, holding firmly above its key support around ₹470 despite broader market volatility. The stock is forming a bullish higher-base pattern, which often precedes a continuation rally. Price behaviour indicates consistent dip-buying, reflecting confidence from market participants. RSI is trending upward and remains in the positive zone, signalling sustained momentum. A close above ₹500 may trigger the next rally phase, taking the stock toward ₹515 and ₹540. With strength across multiple timeframes, the stock remains a favourable candidate for fresh longs. Maintain stop-loss at ₹470.

Restaurant Brands Asia

Buy | CMP: ₹62.90 | SL: ₹59 | Target: ₹66 / ₹69

Restaurant Brands Asia is showing early signs of a trend revival after holding firm above its support zone of ₹59. The stock is forming a small but consistent base, accompanied by improving volume action, indicating renewed buyer interest. Technical indicators such as RSI are beginning to turn upward from oversold territory, suggesting short-term reversal potential. A move above ₹63.50 may confirm momentum buildup and pave the way toward ₹66 and ₹69. With valuations stabilising and price action improving, the risk-reward setup appears favourable. Traders may initiate fresh longs with a strict stop-loss at ₹59.

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