The Sensex gained 304 points, or 0.38%, to end at 80,539.91, while the Nifty 50 added 132 points, or 0.54%, to settle at 24,619.35. Mid- and small-cap stocks outperformed, with the BSE Midcap rising 0.56% and the BSE Smallcap climbing 0.58%.
Against this backdrop market expert Ankush Bajaj has identified three top stocks for investors to consider for the trading session on 14 August. His latest recommendations offer a curated list of opportunities to navigate the current market landscape with confidence.
Top 3 stock picks by Ankush Bajaj – 14 August
Buy: APOLLO HOSPITALS — Current Price: ₹7,808
Why it’s recommended: APOLLO HOSPITALS is exhibiting strong bullish momentum. The daily RSI stands at 67, reflecting sustained buying strength. MACD is firmly positive at 27, and ADX at 18 indicates an emerging trend phase. The stock has made a new lifetime high and closed at its highest point, signalling strong continuation potential. The confluence of lifetime high breakout and momentum indicators suggests further upside towards ₹7,990.
Key metrics: Breakout zone: Lifetime high breakout with strong follow-through
Pattern: Continuation breakout after new highs
MACD: Positive at 27
RSI: Daily RSI at 67, showing robust momentum
ADX: At 18, pointing to early trend development
Technical analysis: The breakout structure and momentum readings support a move towards ₹7,990.
Risk factors: A close below ₹7,712 would negate the bullish setup.
Buy at: ₹7,808
Target price: ₹7,990
Stop loss: ₹7,712
Buy: LARSEN & TOUBRO LTD — Current Price: ₹3,693
Why it’s recommended: LARSEN & TOUBRO is showing healthy bullish momentum with a daily RSI of 61, MACD at 32, and ADX at 25, confirming trend strength. On the 45-minute chart, the stock is forming a bullish pennant pattern. A breakout above ₹3,710 could trigger strong upward momentum towards the target of ₹3,780.
Key metrics: Breakout zone: Bullish pennant on lower timeframe
Pattern: Continuation pattern signalling potential rally on breakout
MACD: Positive at 32
RSI: Daily RSI at 61, reflecting strong momentum
ADX: At 25, confirming trend strength
Technical analysis: A pennant breakout above ₹3,710 could accelerate gains towards ₹3,780.
Risk factors: A close below ₹3,653 would invalidate the bullish view.
Buy at: ₹3,693
Target price: ₹3,780
Stop loss: ₹3,653
Buy: THE INDIAN HOTELS CO. LTD — Current Price: ₹769.80
Why it’s recommended: THE INDIAN HOTELS CO. LTD is trading above all major moving averages, confirming underlying strength. The daily RSI at 60 reflects bullish momentum, MACD is flat but poised to turn positive, and ADX at 14 suggests early trend development. On the 45-minute chart, the stock has given an upper triangle breakout, pointing towards a continuation of the uptrend towards ₹815.
Key metrics: Breakout zone: Upper triangle breakout on lower timeframe
Pattern: Continuation breakout suggesting trend resumption
MACD: Flat, with potential to turn positive
RSI: Daily RSI at 60, signalling steady momentum
ADX: At 14, suggesting trend strength is building
Technical analysis: Triangle breakout indicates a move towards ₹815.
Risk factors: A close below ₹745 would weaken the bullish setup.
Buy at: ₹769.80
Target price: ₹815
Stop loss: ₹745
Stock Market Wrap | 13 August
On Wednesday, 13 August, Indian equity markets ended on a positive note. The Nifty 50 rose 131.95 points, or 0.54%, to close at 24,619.35, while the Sensex gained 304.32 points, or 0.38%, settling at 80,539.91. Bank Nifty also closed higher, up 137.75 points, or 0.25%, to 55,181.45, though financials lagged behind broader market gains.
Sectoral performance was mixed. PSU Banks slipped 0.14%, Oil & Gas eased 0.05%, and FMCG dipped 0.04%, ending in the red. Meanwhile, select pockets saw robust buying momentum, with Healthcare surging 2.13%, Pharma up 1.73%, and Metals advancing 1.26%, supported by rotational buying and value-driven interest.
Among individual movers, Apollo Hospitals jumped 7.90%, Hindalco rallied 5.01%, and Dr. Reddy’s Laboratories gained 2.71%, buoyed by strong sectoral trends and sustained demand. On the downside, some heavyweight counters saw profit-taking—IndusInd Bank fell 1.23%, Adani Ports slipped 0.82%, and Titan eased 0.57%—though these declines had limited impact on overall market sentiment.
Globally, sentiment was supported by softer-than-expected US inflation data, boosting hopes of a September rate cut by the Federal Reserve. Domestically, retail inflation cooled to an eight-year low of 1.55%, further lifting risk appetite. These twin macro positives encouraged buying across key sectors and helped the Nifty hold above the crucial 24,600 mark.
Nifty Technical Analysis Daily and Hourly
The Nifty 50 extended its upward momentum, closing at 24,619.35, up 131.95 points (+0.54%), building on recent gains but still operating within a medium-term structure capped by a negative daily moving average crossover. The 20-DMA at 24,781.95 remains below the 40-EMA at 24,840.24, keeping the bearish crossover intact. Until the index reclaims this band with strong volumes, the medium-term trend remains under watch.
On the daily chart, RSI improved to 44.13, recovering from earlier oversold conditions, while the MACD at –133.81 shows that bearish momentum is moderating but not yet reversed. On the hourly timeframe, the picture is more constructive — a falling wedge breakout and double bottom formation have propelled the index above both the 20-HMA (24,559.83) and 40-HEMA (24,564.71). Hourly RSI is at 56.76, and the MACD has turned positive at +12.17, confirming improving short-term sentiment. The immediate upside targets are 24,700 → 24,780/24,840, with an extended objective at 25,100–25,200 if momentum sustains.
The derivatives landscape reinforces the short-term bullish tone. Total Call OI stands at 17.02 crore versus Put OI of 18.56 crore, giving a positive PE–CE OI difference of 1.54 crore. The session saw a 2.16 crore drop in Call OI alongside a 6.16 crore rise in Put OI, producing a bullish OI change of 8.32 crore. The largest Call OI remains at 25,000, a key overhead supply point, with fresh additions at 24,650 — a near-term ceiling to monitor. On the Put side, both maximum OI and the largest addition are at 24,600, marking it as a strong base.
Globally, risk sentiment was lifted after US stocks hit fresh records — the S&P 500 gained 1.1% and the Nasdaq rose 1.4% — as softer-than-expected US CPI data bolstered expectations of a September Federal Reserve rate cut. This triggered a risk-on move across global markets, with Asia and Europe opening in the green. The Indian rupee held steady near 87.6 as the dollar index eased post-CPI, while Brent crude hovered around $65–66 per barrel, offering a tailwind for India’s macro backdrop.
Outlook and Strategy: As long as Nifty holds above 24,560–24,600, the near-term bias is to buy on dips with upside towards 24,780–24,840. A close above 24,840–24,880 would be the first confirmation of a potential medium-term reversal, opening the way to 25,000+. On the flip side, a close below 24,540 would negate the short-term bullish setup and shift focus back to 24,450–24,400.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
Investments in securities are subject to market risks. Read all the related documents carefully before investing.
Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
