Buy or sell stocks: Domestic benchmark indices extended their losing streak for the seventh straight session on Wednesday, August 19, marking the Nifty 50’s longest spell of declines since September 2025. Investor sentiment remained under pressure amid the ongoing West Asian conflict and elevated crude oil prices.
The Nifty 50 settled 77 points, or 0.32%, lower at 24,078.30, while the Sensex declined 326 points, or 0.42%, to close at 76,909.68.
Stock market today
Nifty 50
Nifty remained under pressure throughout the session, opening weak at 24,223.85 and failing to build any meaningful recovery. After marking a marginal high of 24,269.65, the index faced sustained selling and gradually slipped to the day’s low of 24,154.90, where it closed at the same level, down 132.75 points (-0.55%). The daily setup continues to indicate weakness, with Nifty trading below its key short-term moving average and RSI at 44.67, reflecting subdued momentum. Among sectors, Media, Auto and Oil & Gas showed resilience, while IT, Realty, PSU Bank and FMCG witnessed selling pressure.
“Derivatives data also points towards a cautious near-term setup, with PCR at 0.81 and India VIX at 11.3875, indicating a marginal rise in volatility. Call writing remains concentrated around 24,200–24,300, keeping this zone as an immediate hurdle, while Put writing around 24,200–24,150 offers some support. Hence, 24,000–24,150 remains the crucial downside zone, and holding this area will be important to prevent further weakness. On the upside, 24,270–24,350 is the key resistance band, and a sustained move above this zone could provide some improvement in the short-term structure,” said Sumeet Bagadia, Executive Director at Choice Broking.
Bank Nifty
Bank Nifty also witnessed selling pressure and remained largely range-bound after an initial move towards 57,584.70. The index subsequently lost momentum, gradually moved lower and touched an intraday low of 57,217.60 before settling at 57,262.40, down 235.40 points (-0.41%). The index is currently positioned around its short-term moving averages and rising trendline, making the lower levels important for sustaining the existing structure.
“The 56,800–57,000 zone continues to be the crucial support area for Bank Nifty, and holding this band would be important to limit further downside. On the higher side, 57,500–57,750 remains the immediate resistance zone, with a sustained breakout above 57,750 required to bring back stronger buying momentum,” he added.
Sumeet Bagadia’s stocks to buy
Sumeet Bagadia recommends five breakout shares to buy on Thursday, 20 August: Dalmia Bharat Sugar and Industries, Ador Welding, Apollo Pipes, Patel Retail, and Shreeji Shipping Global.
1] Dalmia Bharat Sugar and Industries: Buy at ₹475, Target ₹515, Stop Loss ₹450
DALMIASUG is showing a strong bullish structure, currently trading around ₹475.55 after a sharp upward move. The stock has formed a consistent higher high and higher low formation, indicating that the broader uptrend remains intact. The recent breakout above the ₹420 zone has further strengthened the technical setup, with the stock gaining nearly 13% in just three sessions, accompanied by rising volumes. On the technical front, the price is trading comfortably above the 20-day, 50-day, 100-day and 200-day EMAs, confirming strong momentum and trend strength.
Sustained buying above the ₹475 zone could open the way for further upside towards ₹515. On the downside, ₹450 serves as a crucial support and stop-loss level. Any sustained move below ₹450 may weaken the setup.
2] Ador Welding: Buy at ₹1634, Target ₹1777, Stop Loss ₹1543
ADOR is witnessing a strong and sustained uptrend, currently trading around ₹1,634.60 after a steady rise from the lower levels. The stock has nearly doubled from its April first-week bottom, reflecting consistent accumulation and improving investor interest. The price action continues to form a clear higher high and higher low structure, confirming that the broader trend remains bullish. On the technical front, ADOR is trading well above its 20-day, 50-day, 100-day and 200-day EMAs, while the 20-day EMA has consistently acted as a crucial dynamic support during the recent uptrend.
This makes the stock suitable for a buy-on-dips strategy as long as the structure remains intact. Sustained strength could drive the stock towards ₹1,777, while ₹1,543 remains a crucial support and stop-loss level.
3] Apollo Pipes: Buy at ₹576, Target ₹620, Stop Loss ₹545
APOLLOPIPE has witnessed a steady recovery from its lower levels and has recently moved into a strong breakout phase after a period of consolidation. The stock successfully held its 20-day and 50-day EMAs as crucial support zones, indicating sustained buying interest. Following this, the stock has broken above its 52-week high zone near ₹545 and has moved towards fresh 52-week highs, confirming improving price strength and a positive market structure. With the breakout confirming the bullish setup, the stock can continue its upward trajectory if it sustains above the breakout level.
The ₹545 zone can now act as an important retest and support area. Strength could lead towards ₹620, while ₹545 remains the crucial stop-loss. Volume support and sustained buying will remain important for confirming the breakout.
4] Patel Retail: Buy at ₹238, Target ₹255, Stop Loss ₹224
PATELRMART is showing improving price strength after holding its long-term key EMA levels. The stock has now moved above its major moving averages. A consolidation breakout above the ₹230 zone has further strengthened the setup, while the price is currently approaching its previous swing-high area. Another positive factor is the 100-day EMA moving closer to crossing above the 200-day EMA, indicating improving medium-to-long-term trend strength. The RSI is around 65.17, reflecting strong momentum. Sustained buying above ₹238 could open the way towards ₹255.
The ₹224 level, near the 20-day EMA, remains the crucial support and stop-loss. A sustained move above the previous swing high would further confirm the bullish setup and strengthen the possibility of fresh upside momentum. Volume participation will remain important for validating the breakout.
5] Shreeji Shipping Global: Buy at ₹649, Target ₹700, Stop Loss ₹617
SHREEJISPG continues to maintain a healthy bullish structure after witnessing profit booking around its previous lifetime-high zone. The stock underwent a controlled pullback towards its 50-day EMA, where it found support and attracted fresh buying interest. The stock is once again moving towards its previous all-time-high zone. On the technical front, SHREEJISPG is trading above all the key EMAs, confirming that the broader trend remains positive. The RSI has cooled off and is currently around 57.54, leaving room for further upside.
If the stock sustains above the previous high with improving volumes, the breakout can strengthen further and support a fresh upward move. The stock can target ₹700, while ₹617 remains the crucial support and stop-loss level. The overall structure continues to favour buying on dips as long as key EMA support holds.
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.
