Nifty rally has enough steam left to move closer to 25,000: Analysts
RAJESH PALVIYA, HEAD OF RESEARCH, AXIS SECURITIES
Trading Strategy
The recommended strategy for Nifty options for the 11 August 2026 expiry is a Call Spread, ideal for a moderately bullish market outlook. The trader buys one lot of the 24,400-strike Call option at a premium of Rs 165-Rs 145 and simultaneously sells one lot of the 24,700-strike Call option at a premium of Rs 55-Rs 65. This strategy limits both risk and reward, creating a defined range for outcomes. The break-even point is at 24,510, with a maximum potential loss of Rs 7,150 and a maximum profit of Rs 12,350.
TOP STOCKS PICKS
Jio Financial Services: Buy | CMP: Rs 256.5 | Target: Rs 270-275 | Stop loss: Rs 245
Rationale: The stock has delivered a decisive weekly breakout on its highest volume, ending a five-month consolidation and pushing the daily RSI above 60 to its highest level this year. Robust 97.4% rollovers reinforce bullish momentum. Buy on dips towards Rs 250-245.
Hero MotoCorp: Buy | CMP: Rs 5,386 | Target: Rs 5,650-5,700 | Stop loss: Rs 5,200-5,180
Rationale: The stock has broken above a seven-month downward trendline, closing at a four-month high with strong RSI momentum above its 200-DMA. Robust 92.9% rollovers, a 7.5% price surge, rising PCR to 0.86 and aggressive Put writing support buying on dips at Rs 5,320-5,260.
ET BureauROHAN SHAH, TECHNICAL ANALYST, ASIT C. MEHTA INVESTMENT INTERMEDIATES
Trading Strategy:
The index concluded the month around the neckline of the prolonged triangle pattern. After three months of persistent resistance, it has finally closed above the 20-month moving average. A decisive breakout from the pattern could pave the way for fresh upside momentum. Buy Nifty futures above 24,600 for an upside target of 25,300-25,500, with a stop loss below 24,100.
TOP STOCKS PICKS
Ashok Leyland: Buy | CMP: Rs 166 | Target: Rs 182 | Stop loss: Rs 158
Rationale: It has rebounded strongly after finding support around the long-term support zone on robust volumes. On the smaller time frame, the stock is anticipated to register a breakout from the Inverse Head & Shoulders pattern, indicating potential for further upside.
Havells India: Buy | CMP: Rs 1,261 | Target: Rs 1,400 | Stop loss: Rs 1,195
Rationale: The stock has broken out from a multi-week basing pattern formed at the long-term support zone. The price and volume breakout, coupled with improving momentum, suggest the stock is well placed to extend its upward move.
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AJIT MISHRA, SVP – RESEARCH, RELIGARE BROKING
Trading Strategies
Nifty 50: From a trading perspective, a buy-ondips strategy is advisable in the 24,200-24,300 zone, with a stop loss at 24,100. On the upside, the index has the potential to move towards 24,500- 24,600 initially, followed by the 25,000+ level.
Bank Nifty: Bank Nifty also witnessed a healthy recovery after the sharp correction seen in the previous week. Immediate resistance is placed around 57,800. A sustained breakout above this level could open the door for a move towards 58,600. On the downside, the 56,500-56,700 zone is expected to provide immediate support, followed by a stronger support band between 55,600 and 56,100.
TOP STOCKS PICKS
Bharti Airtel: Buy | CMP: Rs 1,972 | Target: Rs 2,090 | Stop loss: Rs 1,910
Rationale: It has broken decisively above the Rs 1,950-1,960 resistance zone, supported by strong bullish price action and improving momentum. The stock is trading above its 20-, 50-, and 200-day moving averages, confirming a robust uptrend, while the RSI continues to strengthen without entering overbought territory.
Sona BLW Precision Forgings: Buy | CMP: Rs 769.40 | Target: Rs 840 | Stop loss: Rs 735
Rationale: Sona Comstar has broken out of a prolonged consolidation on strong volumes and is trading above its 21- and 100- week moving averages, confirming a medium-term uptrend.
