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News for India > Business > Top three stocks to buy today—recommended by Ankush Bajaj for 1 August
Business

Top three stocks to buy today—recommended by Ankush Bajaj for 1 August

Last updated: August 1, 2025 5:45 am
7 days ago
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Top three stocks recommended by Ankush Bajaj for 1 AugustBuy: DR. LAL PATHLABS LTD — Current Price: ₹3,150Buy: COROMANDEL INTERNATIONAL LTD — Current Price: ₹2,691.40Buy: NETWEB TECH INDIA LTD — Current Price: ₹2,031Market Wrap 

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: NETWEB TECH 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

Market Wrap 

On Thursday, July 31, 2025,the Nifty 50 fell by 86.70 points or 0.35%, closing at 24,768.35, while the BSE Sensex dropped 296.28 points or 0.36%, settling at 81,185.58. The Bank Nifty also continued to slide, losing 188.75 points or 0.34% to close at 55,961.95, breaching key intraday support levels and reflecting continued pressure in financials.

Sectorally, the market faced sharp losses, especially in cyclicals. The Oil & Gas sector declined 1.48%, the Pharma index fell 1.31%, and the Metal index dropped 1.22%, pulling the broader indices down. However, a few defensives offered limited relief — the FMCG sector surged 1.44%, while the Consumption index edged up by 0.33%, reflecting selective investor rotation.

Among top performers, Hindustan Unilever stood out with a strong gain of 3.44%, followed by Jio Finance at 2.79%, and Eternal, which rose 1.43%, supported by continued buying in high-quality and lower-beta names.

On the downside, heavyweights dragged the market further. Adani Enterprises plunged 4.03% amid valuation concerns, while Tata Steel dropped 2.12%, and Sun Pharma fell 1.56%, extending the pressure on broader sentiment.

Nifty Technical Analysis Daily & Hourly

On July 31, 2025, the Nifty closed at 24,768.35, down 86.70 points or 0.35%, marking a weak session after recent attempts to stabilize. While the index managed to trade above the key support zone of 24,700 during the session, it failed to sustain higher levels and remained under pressure, once again halting near the major resistance at 25,000. This continued rejection reinforces the fact that 25,000 remains a strong psychological and technical barrier, and unless it is decisively crossed, the market is likely to stay range-bound.


From a technical standpoint, the Nifty is currently trading below all its key short-term moving averages. The 20-day SMA stands at 25,119, while the 40-day EMA is placed at 24,994 — both levels the index needs to reclaim to revive near-term bullishness. On the intraday chart, Nifty is also hovering below the 20-hour SMA at 24,803 and the 40-hour EMA at 24,855, which indicates a mildly bearish structure in the short term.

Momentum indicators offer little comfort. The daily RSI remains weak at 41, while the hourly RSI has edged up slightly to 44 but still remains below neutral territory. The MACD on both daily (−86) and hourly (−12) timeframes continues to linger in negative territory, suggesting that bearish momentum, although not accelerating, is yet to fade meaningfully.

In the derivatives segment, the data continues to show a cautious undertone. Total Call open interest stands at 6.24 crore versus 5.63 crore on the Put side, resulting in a negative difference of 60.73 lakh contracts — a bearish sign. The change in open interest during the day also remains slightly negative, with Call OI rising by 2.85 crore and Put OI increasing by 2.76 crore, resulting in a net bearish bias of 9.28 lakh contracts. The Put-Call Ratio, however, has improved to 0.90, indicating some reduction in bearish sentiment but still not enough to signal a reversal. The highest Call OI is placed at the 26,000 strike, reinforcing a distant upside cap, while 25,000 continues to act as the immediate ceiling. On the Put side, maximum OI remains at the 24,000 strike, establishing it as a strong base. Meanwhile, India VIX ticked up 3% to 11.54, indicating a slight rise in volatility and caution.

In summary, the Nifty remains stuck in a consolidation phase with limited directional clarity. The failure to break and hold above 25,000 keeps the short-term trend neutral to bearish. While the index is holding above 24,700 support for now, traders should watch this level closely. A sustained move above 25,000–25,120 is essential for a meaningful bullish breakout, whereas a breakdown below 24,700 could drag the index towards 24,500–24,400. Until then, range-bound and tactical trading strategies such as “buy-on-dips” near support and “sell-on-rise” near resistance are likely to dominate.

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 guarantee 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.



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TAGGED:1 AugustAnkush Bajaj stock picksBest stocks to buy todaycoromandelDr. Lal PathlabsNETWEBniftysensex
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