According to reports from Mint, domestic benchmark indices posted strong gains on Monday, August 3, extending their winning streak to a fourth straight session. The BSE Sensex climbed 544 points, or 0.70%, to settle at 78,639, while the NSE Nifty 50 advanced 391 points, or 1.60%, to close at 24,774.30. Sumeet Bagadia, Executive Director at Choice Broking, has recommended five breakout stocks to buy for Tuesday, August 4, including Aditya Birla Capital, Diffusion Engineers, I G Petrochemicals, Mahindra and Mahindra Financial Services, and Gulf Oil Lubricants India.
As reported by Mint, the Nifty 50 witnessed a strong start to the week, opening with a gap-up of 189 points at 24,572 and extending its rally to close at 24,774, gaining 390.70 points (+1.60%). The index traded between 24,515 and 24,609, where the 24,600 zone acted as a profit-booking area for most of the session. However, a sharp 200-point surge during the final minutes of trade helped the index close at 24774 at the day's high, resulting in a strong bullish daily candle. According to Bagadia, the index continues to maintain a Sideways to Bullish bias as long as it holds above the immediate support zone of 24,500–24,555, with resistance at 24,820–24,900. The expected trading range for the next session is 24,500–24,850.
According to Mint, Bank Nifty witnessed a strong session, opening with a gap-up at 57,569 and closing at 58,247, gaining 983.10 points (+1.72%). After the positive opening, the index rallied sharply during the first hour of trade, reflecting strong buying interest. It then lost momentum and remained largely range-bound through most of the session as profit booking capped further upside. However, a sharp 550-point surge in the final minutes of trading completely changed the intraday structure, helping the index close at the day's high and form a large bullish green candle. Bagadia noted that the index continues to maintain a Sideways to Bullish bias with support at 57,850–58,000 and resistance at 58,666–58,800, with the expected trading range for the next session being 57,850–58,800.
According to Mint, Bagadia's detailed recommendations include Aditya Birla Capital at ₹424 with a target of ₹450 and stop loss at ₹405, noting the stock has resumed its primary uptrend after a brief consolidation. Diffusion Engineers is recommended at ₹406 with a target of ₹440 and stop loss at ₹385, having reclaimed all major daily moving averages after consolidating in the 380–400 range. I G Petrochemicals is suggested at ₹497 with a target of ₹535 and stop loss at ₹471, displaying a strong trend reversal after consolidating around its long-term 200-day EMA. Mahindra and Mahindra Financial Services is recommended at ₹405.5 with a target of ₹430 and stop loss at ₹384, maintaining a strong bullish structure with higher high and higher low formation. Gulf Oil Lubricants India is suggested at ₹1115 with a target of ₹1195 and stop loss at ₹1072, having staged a strong technical comeback after reclaiming its long-term moving averages.
