The Indian stock market posted solid gains on Monday, 11 August, on across-the-board buying amid mixed global cues. The Sensex ended at 80,604.08, up 746 points, or 0.93 per cent, while the Nifty 50 settled at 24,585.05, rising 222 points, or 0.91 per cent.
Geopolitical tensions, however, remain a dominant force shaping market sentiment, with global cues casting a long shadow and stoking widespread uncertainty.
As upcoming developments threaten to challenge prevailing market narratives, the focus now shifts to identifying positive catalysts that could lift sentiment and counter the current bearish tone in the days ahead.
Against this backdrop, here are three stocks to buy or sell as recommended by Raja Venkatraman of NeoTrader for Tuesday, 12 August:
Nykaa Ltd (current market price: ₹204.09)
- Why it’s recommended: Nykaa’s strong position in the online beauty segment, and the potential for profitability in its fashion division. After a sharp decline, signs of reversal from oversold zones signal potential upside. Demand at lower levels showcases optimism for recovery in coming sessions. The daily charts indicate that the volume-based rise seen in the last sessions augurs well for the prices ahead of its numbers. Also, earlier in July it shared a business update for the first quarter that suggests stable growth momentum, even as external headwinds weighed on sales events.
- Key metrics:
- P/E: 597.27
- 52-week high: ₹229.90,
- volume: 2.56M.
- Technical analysis: Support at ₹198, resistance at ₹250.
- Risk factors: Intensifying competition, changing e-commerce regulations, the volatility of ad spending, potential harm to brand reputation, dependence on India’s online market growth
- Buy at: Current market price of ₹204.09.
- Target price: ₹225-235 in 1 months.
- Stop loss: ₹198.
Eternal Ltd (current market price: ₹309)
- Why it’s recommended: Eternal shares have been on a tear, and the last few sessions post its Q1FY26 has been moving ahead quite aggressively. Strong volumes that are emerging post the decline clearly indicate a preference to a potential buying opportunity that is fueling some steady upside. As markets continue to indicate a preference and with the momentum indicators too holding the bullish bias we can look for continued upward trajectory in the coming day.
- Key metrics:
- P/E: 142.96,
- 52-week high: ₹314.40,
- volume: 44.94M.
- Technical analysis: Support at ₹280, resistance at ₹380.
- Risk factors: Handling sensitive customer and restaurant data, unfair practices, new innovations, risk of negative media coverage if it fails to ensure hygiene standards.
- Buy at: Current market price and dips to ₹295.
- Target price: ₹331-343 in 1 months.
- Stop loss: ₹290.
Swiggy Ltd (current market price: ₹403.95)
- Why it’s recommended: The recent reaction into the cloud support region has arrested the fall and the prices are biding time to generate some buying interest. Gradual accumulation at critical support levels highlights strong investor interest, supported by consistent growth in revenue. As market looks to reward new age stocks and a buzzing Quick Commerce space one can look to participate.
- Key metrics:
- 52-week high: ₹617,
- Volume: 9.17M.
- Technical analysis: Support at ₹370, resistance at ₹450.
- Risk factors: Ability to continuously grow its offerings, acquire new users, and retain existing ones,potential labour disputes and retaining delivery partners.
- Buy at: Current market price and dips to 385.
- Target price: ₹415-425 in 1 month.
- Stop loss: ₹377.
Stock Market Today | 11 August
Equity benchmarks staged a sharp rebound on 11 August, snapping a six-week losing streak, the longest since 2020, and restoring investor confidence. The Sensex reclaimed the 80,000 mark, closing 746 points higher at 80,604.08, while the Nifty gained 221.75 points to settle at 24,585.05, above the key 24,550 level.
Market breadth was evenly poised, with 2,136 stocks advancing, 1,867 declining, and 161 unchanged, reflecting selective risk-on sentiment. Gains were broad-based, led by PSU banks, realty, and pharma, with large caps lending stability. Intraday momentum built steadily, underpinned by buying in heavyweights and improved risk appetite, helping indices finish near their session highs.
The recovery, after early August weakness, signals rotational buying in financials and cyclicals alongside steady midcap participation. For the near term, traders will watch for follow-through above 24,600 on the Nifty, with 24,450–24,500 now seen as immediate support.
Outlook for Trading
Broader indices finally broke free from the bearish spell that had fuelled profit booking earlier in the week and dragged markets lower. The rebound, helped in part by Trump’s unpredictability, has yet to inspire lasting confidence, with gains proving difficult to hold. While attempts have been made to interpret alternating trends positively, intermittent declines have eroded much of the bullish resolve.
Pronounced volatility is making it harder to form a clear market bias, leaving sentiment jittery. Bank Nifty’s persistent weakness has further weighed on confidence, and after breaching its channel, the index continues to show signs of bearish pressure. Markets remain suppressed and are flashing caution as we head into the last trading day of the week.
With Q1 earnings season in full swing, investors will be closely tracking corporate results for fresh cues. In the current environment of ad hoc triggers, markets are likely to remain choppy in the near term. Volatility has become a constant feature, forcing sentiment to shift rapidly and making risk management more critical than ever.
View Full Image
Still, there are pockets of value emerging in mid- and small-cap stocks, reflecting selective bullish sentiment. Globally, the “Trump Tariff Saga” continues to keep markets oscillating. Without clarity on the outcome, Nifty Spot is expected to trade within the 24,350–24,850 range in the days ahead.
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.
