Key metrics: P/E: 50.25 | 52-week high: ₹655 | Volume: 336.06K.
Technical analysis: Support at ₹262, resistance at ₹440.
Risk factors: High volatility, negative investor sentiment, and long-term bearish trends.
Buy: dips to ₹295.
Target price: ₹340-353 in 1 month.
Stop loss: ₹287
NACL Industries Ltd (Cmp ₹323.30)
Why it’s recommended: NACL Industries Ltd (NACLIND) is a leading agrochemical company with a presence in both domestic and international markets. The stock has absorbed the recent negative fundamentals and has been on a steady upward trajectory. Any profit booking seen is quickly being bought into, indicating that the trends are poised for continued upside. Further, the long body candle seen on Thursday indicates potential to move higher.
Key metrics: 52-week high: ₹331.45 | Volume: 1.06M.
Technical analysis: Support at ₹270, resistance at ₹425.
Risk factors: Overvalued with poor financial metrics, including a negative PE ratio and ROE.
Buy above: CMP and dips to ₹305.
Target price: ₹355-365 in one month.
Stop loss: ₹298.
Hester Biosciences Ltd (Cmp ₹1,949.20)
Why it’s recommended: HESTERBIO, Hester Biosciences is a prominent player in the animal healthcare sector, particularly in vaccine manufacturing. Being a dominant player, the sock has been consolidating and is now showing some signs of recovery above the current consolidation and a potential to move to the upside after weeks of profit booking that had emerged.
Key metrics: P/E: 52.25 | 52-week high: ₹3,250 | Volume: 9.32K.
Technical analysis: Support at ₹1,750, resistance at ₹2,225.
Risk factors: High inventory requirements and strict regulations regarding intellectual property rights (IPR) and rising interest expenses.
Buy above: CMP and dips to ₹1,905.
Target price: ₹2,040-2,085 in one month.
Stop loss: ₹1,890.
Two stock recommendations by MarketSmith India:
Hindustan Unilever Ltd (current price: ₹2,521.20)
Why it’s recommended: Rural demand recovery and volume-led sales, preimmunized brand portfolio, strategic investment, and corporate restructuring.
Key metrics: P/E: 55.69 | 52-week high: ₹ 3,035 | Volume: ₹1,382 crore
Technical analysis: Trending above all its key moving averages, momentum improvement.
Risk factors: Elevated input cost and its pressure on margin, sluggish urban consumption, and execution risk around demerger.
Buy: ₹2,450-2,500
Target price: ₹3,000 in two to three months
Stop loss: ₹2,350
Godrej Consumer Products Ltd (current price: ₹1,259)
Why it’s recommended: Strong revenue and volume momentum, double-digit growth in Africa and the Middle East, and margin recovery.
Key metrics: P/E: 65.30 | 52-week high: ₹1,541 | Volume: ₹200 crore
Technical analysis: Rebound from 100-week moving average
Risk factors: Volatile commodity prices, soft urban demand.
Buy at: ₹1,220-1,250
Target price: ₹1,515 in two to three months
Stop loss: ₹1,170
Top three stocks recommended by Ankush Bajaj for 1 August
Buy: DR.LAL PATHLABS LTD — Current Price: ₹3,150
- Why it’s recommended: The company is showing strong bullish momentum with a daily RSI at 69 and MACD at 63, both indicating a firm upward bias. On the hourly chart, the stock has broken out of a triangle pattern near ₹3,120, a bullish formation that reinforces the upward trend. This convergence of momentum indicators and breakout pattern suggests further upside potential in the near term.
- Key metrics:Breakout zone: Triangle breakout on hourly chart near ₹3,120
- Pattern:Bullish breakout with momentum confirmation
- MACD:Positive at 63, reflecting trend strength
- RSI:Daily RSI at 69, signaling overbought yet strong bullish momentum
- Technical analysis:A clean breakout on the lower timeframe coupled with strong momentum signals supports a bullish outlook toward ₹3,225.
- Risk factors:A close below ₹3,110 will invalidate the pattern and increase the risk of a short-term pullback. A stop-loss at ₹3,110 is recommended.
- Buy at: ₹3,150
- Target price: ₹3,225
- Stop loss: ₹3,110
Buy: COROMANDEL INTERNATIONAL LTD — Current Price: ₹2,691.40
- Why it’s recommended: COROMANDEL INTERNATIONAL LTD is exhibiting strong bullish momentum, with the daily RSI at 71 and MACD at 66, both in overbought territory but confirming strength. The stock is trading at lifetime highs and comfortably above all major moving averages, suggesting strong institutional interest and trend continuation.
- Key metrics:Breakout zone: Lifetime high breakout
- Pattern:Momentum-driven breakout with strong price structure
- MACD:Positive at 66, reflecting robust bullish trend
- RSI:Daily RSI at 71, indicating aggressive momentum
- Technical analysis:The stock’s position at record highs along with favorable momentum indicators presents a compelling case for further upside toward ₹2,800.
- Risk factors:A breakdown below ₹2,615 may trigger a near-term correction. A disciplined stop-loss at ₹2,615 is advised.
- Buy at: ₹2,691.40
- Target price: ₹2,800
- Stop loss: ₹2,615
Buy:NETWEBTECH INDIA LTD — Current Price: ₹2,031
- Why it’s recommended: NETWEB TECH INDIA LTD is showing signs of a strong breakout setup. The daily RSI is at 62, and the MACD stands at 37, both indicating growing bullish momentum. On the hourly timeframe, the stock has delivered a triangle breakout along with a rectangle breakout, providing double confirmation of strength and signaling a potential fresh rally.
- Key metrics: Breakout zone: Triangle and rectangle breakout on hourly chart
- Pattern:Dual breakout with momentum strength
- MACD:Positive at 37, showing buy signal confirmation
- RSI:Daily RSI at 62, indicating bullish strength without being overbought
- Technical analysis:A dual breakout on the lower timeframe supported by solid momentum signals supports an upside move toward ₹2,215.
- Risk factors:A close below ₹1,960 would invalidate the bullish setup and warrant exit.
- Buy at: ₹2,031
- Target price: ₹2,215
- Stop loss: ₹1,960
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
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
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 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.
