The Nifty 50 settled 245 points higher at 24,876.95, after briefly surpassing 25,000 with an intraday gain of 1.58%.
Investor sentiment was bolstered by expectations of a ‘big bang’ GST reform package by Diwali and an S&P sovereign rating upgrade. Together, these factors improved visibility on India’s growth and policy trajectory.
Here are the best stock picks for Tuesday, 19 August, recommended by some of India’s leading market experts.
Three midcap stocks to buy, recommended by NeoTrader’s Raja Venkatraman
Kirloskar Oil Engines Ltd(Current market price: ₹944.10)
KIRLOSENG: Buy CMP and dips to ₹915 | Stop: ₹898 | Target: ₹1,040-1,085
- Why Kirloskar Oil is recommended: TheKirloskar Oil Engine stock has surged after a consolidation, from the TS & KS support that was witnessed in the last 2 weeks. The stock’s strong performance has risen above the consolidation that had dipped into the cloud support and formed a rounding pattern. The long body bullish candle signals a positive outlook for the prices. This has led to an improvement in the sentiment. With prices holding firm we can consider going long.
- Key metrics
- P/E: 31.87
- 52-week high: ₹1,405
- Volume: 470.47k.
- Technical analysis: Support at ₹800, resistance at ₹1,200
- Risk factors: Reliant on external manufacturers, competitive landscape and regulatory compliance
- Buy at: CMP and dips to ₹915
- Target price: ₹1,040-1,085 in 2 months
- Stop loss: ₹898
NESCO Ltd (Current market price: ₹1,437.80)
NESCO: Buy CMP and dips to ₹1,398 | Stop: ₹1,370 | Target: ₹1,550-1,585
- Why Nesco recommended:Nesco operates across various segments, including IT parks, the Bombay Exhibition Centre (BEC), hospitality (Nesco Foods), and engineering (Indabrator). This diversification helps to reduce dependence on any one sector and creates a more stable revenue stream. The stock has been witnessing a consolidation and after holding the TS line support and the strong showing seen on Monday augurs well for the prices. Consider this as an opportunity to go long.
- Key metrics
- P/E: 23.79
- 52-week high: ₹1,428.80
- Volume: 581.47k
- Technical analysis: Support at ₹1,250, resistance at ₹1,700
- Risk factors: Global economic slowdown, trade tensions, and high dependence on one customer
- Buy at: CMP and dips to ₹1,398
- Target price: ₹1,550-1,585 in 2 months
- Stop loss: ₹1,370
Kalpataru Projects International Ltd (Current market price: ₹1,273.30)
KPIL: Buy at CMP and dips to ₹1,240 | Stop: ₹1,215 | Target: ₹1,365-1,410
- Why Kalpataru Projects is recommended: TheKalpataru Projects counter has undergone some sharp declines, but the fall seen in the last few days has been receding, giving rise to a potential rebound. The momentum indicator clearly shows a divergence that can help the revival as trends are attempting to move higher. With steady volumes building up within the bands one can look for an encouraging upmove in the coming days.
- Key metrics
- P/E: 28.74
- 52-week high: ₹1,438.05
- Volume: 378k
- Technical analysis: Support at ₹1,190, resistance at ₹1,450
- Risk factors: Operational delays, government policy changes affecting real estate, and cost overruns
- Buy at: CMP and dips to ₹1,240
- Target price: ₹1,365-1,410 in 2 months
- Stop loss: ₹1,215
Two stock recommendations for today by MarketSmith India
Multi Commodity Exchange of India Ltd (Current price: ₹8,309)
- Why it’s recommended: Potential reclassification in AMFI’s cap lists, approval and launch of electricity futures, and dominant market position with strong fundamentals
- Key metrics: P/E: 64, 52-week high: ₹ 9,115.00, volume: ₹ 340.65 crore
- Technical analysis: Reclaimed its 21-DMA
- Risk factors: Regulatory & compliance risks, market & price volatility, policy & regulatory uncertainty, sectoral & economic sensitivity
- Buy: ₹8,309
- Target price: ₹9,250 in two to three months
- Stop loss: ₹7,860
Grasim Industries Ltd (Current price: ₹2,846)
- Why it’s recommended: Paints business scaling fast, chemicals, and specialty products leadership
- Key metrics: P/E: 22.15; 52-week high: ₹2,896; volume: ₹318.70 crore
- Technical analysis: Downward sloping trendline breakout
- Risk factors: Execution risk in scaling new ventures, commodity-centric cyclicality
- Buy at: ₹2,820-2,870
- Target price: ₹3,100 in two to three months
- Stop loss: ₹2,700
Top three stock picks by Ankush Bajaj for 19 August:
Ashok Leyland Ltd (current price: ₹131.75)
Why it’s recommended: Ashok Leyland is showing strong bullish momentum, with the daily RSI at 67, MACD in positive territory, and ADX at 27, all indicating a robust trend. The stock has recently broken above resistance near ₹127, suggesting momentum continuation.
Key metrics: Pattern: Breakout above recent resistance at ₹127
MACD: Positive, confirming buy momentum
RSI: 67, in bullish zone
ADX: 27, signalling a strong trend
Technical analysis: The breakout structure, bolstered by strong momentum, points to further upside toward ₹139.
Risk factors: Demand fluctuations in the commercial vehicle cycle, competition from peers, and higher debt levels that could weigh on free cash flow.
Buy at: ₹131.75
Target price: ₹139
Stop loss: ₹128
Maruti Suzuki Ltd (current price: ₹14,068)
Why it’s recommended: Maruti Suzuki is in bullish territory with a daily RSI of 81, MACD at 180, and ADX averaging 12, highlighting momentum accumulation. The stock recently closed at a new lifetime high, indicating strong upward continuation.
Key metrics: Pattern: New lifetime high breakout
MACD: Strongly positive at 180
RSI: 81, showing overbought but sustained strength
ADX: 12, signalling early trend formation
Technical analysis: The crossover alongside market momentum supports potential upside to ₹14,575.
Risk factors: Exposure to supply chain disruptions (especially EV components), rising competition in the SUV space, and potential margin pressure due to raw material costs.
Buy at: ₹14,068
Target price: ₹14,575
Stop loss: ₹13,815
Eicher Motors Ltd (current price: ₹5,915)
Why it’s recommended: Eicher Motors exhibits strong bullish momentum characterized by a daily RSI of 73, MACD at 62, and ADX at 16, signalling an emerging trend. The stock has also recently reached a new lifetime high, reinforcing the bullish setup.
Key metrics: Pattern: New lifetime high breakout
MACD: Positive at 62
RSI: 73, indicating strong momentum
ADX: 16, early-stage trend initiation
Technical analysis: Sustained momentum and breakout signal suggest further upside potential.
Risk factors: High valuations, rising input costs, and execution risks in scaling up international operations.
Buy at: ₹5,915
Target price: ₹6,200
Stop loss: ₹5,780
MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O’Neil India Pvt. Ltd. (Sebi Registered Research Analyst Registration No.: INH000015543)
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
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 guarantees 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.
