Stock Market Today: The market started a new week on a positive note as the benchmark Nifty-50 index ended 0.49% higher. The Bank Nifty gained 1.19% to 56,952.75 levels, while metals, realty, and auto were other key gainers, though Oil & Gas and FMCG stood among key losers. In the broader indices While mid caps gained more than half a percent, small caps ended flat.
Trade Setup for Tuesday
Going forward, 24,900 remains a crucial support level for the index; a decisive fall below this level is likely to empower the bears. On the other hand, resistance is placed at 25,200–25,260, as per Rupak De, Senior Technical Analyst at LKP Securities
A decisive breakout above the 57250 level for Bank Nifty would open the door for a further rally towards the 58,000 mark.
Global markets today and Q1 Results
Markets would be closely following further trade talks over the coming weeks, as both India and the US aim for a deal before the August 1 deadline. We expect the market to remain range-bound, tracking quarterly earnings outcomes and developments on the India-US trade deal, said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Key results scheduled for Tuesday include Colgate, JSW Infra, Dixon Tech, and Paytm, amongst others.
Stocks to buy today
Regarding stocks to buy today, market experts—Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher—recommended these eight intraday stocks for today: Interarch Building Solutions Ltd, Hariom Pipe Industries Ltd., PB Fintech Ltd., Tata Steel, Bharat Forge Ltd., Raymond Ltd., Websol Energy System Ltd., and Lloyds Engineering Works Ltd.
Sumeet Bagadia’s stock picks
- Interarch Building Solutions Ltd.-Bagadia recommends buying INTERARCH at around ₹2312, keeping stop loss at ₹2230 for a target price of ₹2500
INTERARCH is currently positioned at ₹2312 levels and delivered a stellar upside move in today’s session. The price action marks a decisive breakout above the short-term consolidation zone, with increased volumes supporting the bullish move. Today’s breakout attempt is the first major thrust from the lower end of this band, raising expectations of a bullish breakout.
2. Hariom Pipe Industries Ltd-Bagadia recommends buying HARIOMPIPE at around ₹501.3, keeping Stoploss at ₹485 for a target price of ₹540
HARIOMPIPE witnessed a powerful bullish breakout in today’s session. The stock surged with significant volume expansion, indicating robust buying interest and potential accumulation at lower levels and a clear shift in sentiment. The closing is also above the 200-day EMA at ₹459, which adds significant strength to the breakout and validates bullish sentiment.
Ganesh Dongre’s stocks to buy today
3. PB Fintech Ltd—Dongre recommends PB Fintech Ltd, or POLICYBZR, at around ₹1802, keeping Stop Loss at ₹1775 for a target price of ₹1850
Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 1802 and maintaining strong support at ₹ 1775. The technical setup indicates the potential for a price retracement towards the ₹ 1850 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 1775 offers a prudent approach to capturing the anticipated upside.
4. Tata Steel—Dongre recommends buying TATASTEEL at ₹163, keeping stop loss at ₹159 for a target price of ₹170
Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 163 and maintaining strong support at ₹ 159. The technical setup indicates the potential for a price retracement towards the ₹ 170 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 159 offers a prudent approach to capturing the anticipated upside.
5. Bharat Forge Ltd—Dongre recommends buying BHARATFORG at ₹1220, keeping Stoploss at ₹1200 for a target price of ₹1260
In the latest short-term technical analysis, the stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹1220 and holding above a key support level at ₹1200. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 1200 to manage downside risk. The target for this trade is set at ₹ 1260, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend
Shiju Koothupalakkal intraday stocks for today
6. Raymond Ltd. -Koothupalakkal recommends buying RAYMOND at around ₹738.50 for a target price of ₹777, keeping the stop loss at ₹723
The stock has maintained a strong uptrend recently after a short correction and has indicated a higher low formation on the daily chart, currently having a series of bullish candle formations with huge volume participation visible, which has improved the bias to anticipate further upward movement in the coming sessions. The chart setup technically looks good, with the RSI well positioned after cooling off from the highly overbought zone, with once again much upside potential visible from the current rate. With the chart technically looking good, we suggest buying the stock.
7. Websol Energy System Ltd.—Koothupalakkal recommends buying WEBSOL ENERGY at around ₹1422 for a target price of ₹1485. keeping Stop loss: 1395
The stock has indicated a positive trend reversal with a bullish candle formation on the daily chart to break out above the trendline zone at the ₹1407 level after taking support near the confluence of the moving average of 50 EMA and the 200-period MA at the ₹1325 zone to improve the bias, and we can expect a further rise in the coming sessions. The RSI is on the rise, indicating strength, and can carry on with the positive move further ahead. With the chart technically looking attractive, we suggest buying the stock for an upside target of 1485, keeping the stop loss at the 1395 level.
8. Lloyds Engineering Works Ltd-Koothupalakkal recommends buying LLOYDS ENGG WORK at ₹78.90 for a target price of ₹85 keeping Stop loss at ₹77
The stock has been hovering near the strong zone, and after a short period of correction, it has once again indicated a fresh positive move with a bullish candle to improve the bias, and we expect another round of fresh upward moves in the coming sessions. The RSI has cooled off significantly from the overbought zone and is currently well positioned, indicating a positive trend reversal to signal a buy with much upside potential visible from the current rate. With the chart technically looking good, we suggest buying the stock .
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
