The Indian equity markets have entered a consolidation phase, with the NSE Nifty 50 index declining nearly 2% from its recent high of 24,774 touched on August 3, 2026. According to reports from Business Standard, the Nifty 50 index has traded flat in August, contrasting sharply with the Nifty MidCap 100 and Nifty SmallCap 100, which gained 1.8% and 2.8% respectively. The benchmark's underperformance has been primarily attributed to a subdued trend in majority of largecap stocks, creating opportunities for selective stock picking based on technical analysis.
Mahindra & Mahindra stock has broken out of a 'W' pattern on the charts, suggesting potential upside momentum toward ₹3,710-3,840 levels in the short to medium term. As reported by Business Standard, the stock is currently trading above its 20- and 50-day Exponential Moving Averages (EMAs), indicating technical strength. The analyst notes that daily momentum indicators including MACD and RSI show positive crossover with strengthening green histograms, with the RSI remaining above 60. The positive momentum is expected to continue as long as the stock holds above ₹3,200 levels. Recent developments show M&M launched three new models over the weekend - the Blazo i-TRK truck powered by a 320-horsepower mPOWER engine, the Scorpio Lifestyler SUV pick-up range available in three themes, and the BE 6 SPORTEQ electric vehicle starting at ₹11.45 lakh with deliveries expected from August 26, 2026. Citi maintains a 'Buy' rating with a price target of ₹4,260, while Nomura projects an even higher target of ₹4,875.
Jio Financial Services has formed a strong base after a 34% correction from its peak of ₹338, currently trading around ₹257, which coincides with its 200-day EMA. According to the technical analysis from Business Standard, the stock is positioned to approach ₹267 levels, aligning with the 38% retracement of the ₹338-223 range. The analyst expects a breakout above ₹267 to trigger an upward rally toward ₹282-295 levels in the short to medium term, with critical support placed at ₹234.
Shriram Finance is currently trading at ₹1,133, presenting a technical setup for potential upside movement. As reported by Business Standard, the stock's technical indicators show a strong base formation after a 34% correction from its peak, positioning it for potential recovery. The analyst's technical analysis suggests the stock could see upside momentum if it breaks above key resistance levels, though specific target levels and support zones were not detailed in the current market data.
Mahindra & Mahindra unveiled two significant products on August 14 and 15 - the Scorpio Lifestyler, a new global pick-up based on the Scorpio N platform, and the refreshed BE6 electric vehicle. The Scorpio Lifestyler features a double-cab layout with three lifestyle-focused editions - Reef, Trail and Valley, with launch planned by April 2027 at a starting price of ₹19.79 lakh. Key features include a large vertical infotainment display with digital driver display, sunroof, connected car tech, ADAS, dual climate control and ventilated seats. Nomura notes that M&M's total addressable global pick-up market could be around 1 million units annually, with the Scorpio Lifestyler positioned to capture 3-5% global share translating into 30-50k units annually. On the refreshed BE6, the company launched models at ₹19.45 lakh-26.95 lakh against ₹18.90 lakh-26.90 lakh previously, with new features including a 70kWh battery option, triple-screen layout, and Battery-as-a-Service (BaaS) offering. The BE6 is offered with 59kWh, 70kWh and 79kWh battery packs, delivering 548km, 651km and 683km MIDC range respectively.
