Stock Picks: Sagar Doshi suggests Voltas, Samvardhana Motherson, JK Tyre shares to buy today
The Sensex fell by 103.16 points to reach 82,467.75 during early trading, while the Nifty 50 decreased by 56.75 points to stand at 25,139.05.
Sagar Doshi from Nuvama anticipates that Nifty 50 will exhibit a rangebound trade between 25,000 and 25,300. Doshi recommends three stocks to buy today. Here's what he says about the overall market.
Nifty 50 has reclaimed above its previous day's high after taking support at the psychological 25,000 mark. The index faced pressure on the first trading day of this week as it continued to slide with initial downside target of 25,000 has been met and fresh upside opens up only on further closing above 25,325. So for the balance of this week, a rangebound trade between 25,000 – 25,300 is expected to unfold.
Bank Nifty on the other hand ended at a 4 day closing high after it did not close below its immediate support of 56,750 for 2 consecutive days despite being challenged in intraday trades. Only a close below 56,750 is going to allow further downside on the index marking a temporary pause to this outperformance in the index. Hence, view remains outperformance against Nifty 50 and a slow path northwards to make a fresh all time high.
On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - Voltas Ltd, Samvardhana Motherson International Ltd, and JK Tyre & Industries Ltd.
Voltas share price has ended at the highest point for the current fiscal despite media reports of A/C demand not growing as the markets continue to price in limited downside from current levels on the stock. Technically, the stock has broken out from its 3 month sideways consolidation and is now headed for a 6-8% rally.
With Samvardhana Motherson share price giving a fresh crossover above its 200 DMA resistance, on daily charts the pattern suggest a bullish head and shoulder pattern formation along with a short term pole and flag pattern breakout already seen on the same. Momentum is likely to pick up above 159 on the stock.
6 week long consolidation is now nearing an end on charts of JK Tyre share price as the stock has been on the verge of multiple breakouts. A bullish pole and flag pattern breakout is already confirmed on daily charts while a strong trendline breakout which has been in place for the past 18 months now is now being challenged due to the tailwind thrust by its ongoing breakout. Charts are likely to open up for a larger target once the stock sustains above 385, however for now we are eyeing for a 9-11% style rally from CMP.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Print
3 hours ago
- The Print
Markets extend losses on global sell-off amid US tariff concerns; Sensex tanks 586 points
As many as 2,712 stocks declined while 1,306 advanced and 151 remained unchanged on the BSE. Besides, persistent selling by foreign investors added to the gloom, according to experts. In a volatile trade, the 30-share BSE Sensex tumbled 585.67 points or 0.72 per cent to settle at 80,599.91. During the day, it dropped 690.01 points or 0.84 per cent to 80,495.57. Mumbai, Aug 1 (PTI) Equity benchmark indices Sensex and Nifty declined sharply for the second straight session on Friday, tracking deep losses in pharma, metal, and IT stocks amid trade-related concerns and widespread selling pressure in global markets. The 50-share NSE Nifty declined 203 points or 0.82 per cent to 24,565.35. 'The benchmark index Nifty wrapped up its fifth consecutive week in the red — its longest losing streak since August 2023, raising eyebrows across the street…Despite making multiple attempts to scale up, the index has struggled to hold ground, only to be met with selling pressure each time. The long upper wicks are a telling story — bulls tried, but bears had the final say,' Sudeep Shah, Head – Technical Research and Derivatives at SBI Securities, said. On the weekly front, the BSE benchmark tanked 863.18 points or 1.05 per cent, and the Nifty dropped 271.65 points or 1.09 per cent. 'The Indian equity market extended its decline for a second day, pressured by renewed tariff threats and punitive duties that could undermine India's global trade competitiveness. Investor sentiment weakened further as FIIs now hold the second-highest net short position in derivatives, reflecting elevated caution. 'Globally, markets turned negative amid rising US inflation and trade tensions. While the sell-off was broad-based, FMCG stocks emerged as a defensive play, supported by attractive valuations, resilient demand, and relative immunity to external trade disruptions,' Vinod Nair, Head of Research, Geojit Investments Limited, said. US President Donald Trump unveiled sweeping new tariffs on dozens of countries, including 25 per cent duties for goods from India, marking a new era of American protectionism that triggered fresh tensions and concerns over a much wider disruption in the global trade landscape. From the Sensex firms, Sun Pharma tumbled 4.43 per cent after the company reported a 20 per cent year-on-year decline in consolidated net profit to Rs 2,279 crore for the first quarter ended June 30, 2025. Tata Steel, Maruti, Tata Motors, Infosys, Bharti Airtel and Tech Mahindra were also among the laggards. However, Trent, Asian Paints, Hindustan Unilever, ITC, Kotak Mahindra Bank, and Reliance Industries were the gainers. The BSE smallcap gauge dropped 1.59 per cent, and the midcap index declined by 1.37 per cent. Healthcare tanked 2.44 per cent, telecommunication (2.41 per cent), metal (1.94 per cent), oil & gas (1.91 per cent), teck (1.83 per cent), IT (1.81 per cent), and realty (1.78 per cent). BSE FMCG index emerged as the only gainer. 'Markets began the August series on a negative note, extending the prevailing corrective trend, and ended lower by over half a per cent. Markets continue to grapple with a mixed earnings season, while the recent tariff announcement and persistent foreign fund outflows are further weighing on sentiment,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said. The US president signed an executive order on Thursday that raised tariffs for over five dozen countries, with Washington's negotiations for trade deals going down to the wire ahead of the August 1 deadline. In the Executive Order titled 'Further Modifying The Reciprocal Tariff Rates', Trump announced tariff rates for nearly 70 nations. A 25 per cent 'Reciprocal Tariff, Adjusted' has been imposed on India, according to the list released. The order, however, does not mention the 'penalty' that Trump had said India would have to pay because it purchases Russian military equipment and energy. While August 1 was the tariff deadline, the new levies will come into effect from August 7. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,588.91 crore on Thursday, according to exchange data. 'Global equity markets were mostly weak over the past week, as the US tariff saga continued. The Indian equity market continued to underperform global equity markets in the past week and was down 0.8 per cent over this period,' Shrikant Chouhan, Head – Equity Research, said. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled lower. Equity markets in Europe were trading in the red. The US markets ended in negative territory on Thursday. Global oil benchmark Brent crude declined 0.39 per cent to USD 71.42 a barrel. On Thursday, the Sensex declined 296.28 points or 0.36 per cent to settle at 81,185.58. The Nifty dropped 86.70 points or 0.35 per cent to 24,768.35. PTI SUM SUM BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Economic Times
3 hours ago
- Economic Times
Sebi proposes tighter norms for green bond third-party reviewers
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Time of India
4 hours ago
- Time of India
'Strategy in works to shield economy from geopolitical risks', says DIPAM secretary; Finance ministry reviewing PSU capex weekly
The finance ministry is conducting weekly capital expenditure reviews of all public sector undertakings (PSUs) and is working on strategies to shield the Indian economy from emerging geo-political risks, DIPAM Secretary Arunish Chawla said on Friday. 'We are doing capital review of all public sector undertakings on a weekly basis and we are working on strategies which can insulate our economy from geo political risks,' Chawla said, quoted PTI. The Department of Investment and Public Asset Management (DIPAM) secretary also noted that public sector enterprises now account for nearly 15% of India's total market capitalisation, and the government is confident that they will continue to sustain their capital expenditure momentum. His comments come amid heightened global uncertainty following US President Donald Trump's decision to impose 25% tariffs on India, along with an additional penalty linked to India's trade relations with Russia. The new tariff regime is set to take effect from August 7. The move has triggered fresh volatility in domestic markets. The Sensex and Nifty fell sharply for the second consecutive session on Friday, as pharma, metal and IT stocks led the decline amid trade-related worries and widespread global selling pressure. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
