Market expert Raja Venkatraman of NeoTrader has identified three stocks for trading on August 13, all positioned as buy recommendations with specific entry levels and targets. The latest recommendations include AARTIIND as a buy above ₹533 with stop loss at ₹503 and target of ₹590 over a multiday period. BHEL is suggested as a buy above ₹420 with stop at ₹397 and target of ₹468 for two months. UNIONBANK is recommended as a buy above ₹190 with stop loss at ₹183 and target of ₹206 over a multiday period. The previous recommendations from August 12 included POLYMED as a buy above ₹1,870 with stop loss at ₹1,780 and target of ₹2,025 over a multiday period, AFFLE as a buy above ₹1,680 with stop at ₹1,580 and target of ₹1,850 for two months, and KAJARIACER as a buy above ₹1,230 with stop loss at ₹1,168 and target of ₹1,348 over a multiday period.
Indian equities ended cautiously on August 12 as choppy trade kept the Nifty under pressure throughout the session. The Nifty dropped early to test the crucial 24,300 support zone before staging a modest recovery to close near 24,471. According to NeoTrader's analysis, financials weighed heavily on the headline index, though steady buying in select IT and pharma stocks provided crucial support. Among individual movers, Tata Consumer, UltraTech Cement, Apollo Hospitals, and Nestle led the losses, while Dr Reddy's, TCS, Titan, and Infosys ended in the green. Sectoral performance was mixed with Pharma surging 1% and IT gaining 0.6%, contrasting with 1% declines in Realty, FMCG, and Metals. Broader market breadth was more resilient, with midcaps holding firm and smallcaps making gains.
According to NeoTrader's technical analysis, AARTIIND shows a P/E ratio of 36.81 with 52-week high of ₹522.90 and volume of 1.54M. The stock has support at ₹480 and resistance at ₹650, with key risk factors including product concentration, geopolitical disruption and working capital & receivables management. BHEL demonstrates a P/E ratio of 163.04 with 52-week high of ₹2,186.80 and volume of 14.61M. The stock has support at ₹380 and resistance at ₹450, with key risk factors including high working capital intensity due to long-gestation power projects, heavy revenue dependence on the cyclical thermal power sector. UNIONBANK has a P/E ratio of 7.16 with 52-week high of ₹205.45 and volume of 22.01M. The stock shows support at ₹175 and resistance at ₹210, with key risk factors including declining Net Interest Margins (NIMs), a lagging low-cost deposit ratio, and normalizing asset quality signals.
According to NeoTrader's outlook, despite a sharp rebound to start the week on a positive note, an air of caution lingers as concerns surrounding potential changes to the Securities Transaction Tax (STT) briefly tested sentiment. However, the market quickly regained momentum as traders repositioned for medium-term growth. The analysis notes that technical setup indicates the Nifty is consolidating after six sessions of range-bound movement, with analysts viewing the 24,300 level as a potential higher bottom that could trigger a rebound once market volatility cools. Key support defined around the 20-period EMA and the 38.2% Fibonacci retracement level has held up well, setting the stage for a positive close heading into August expiry. The 24,300 mark continues to act as a crucial anchor, further bolstered by a classic hammer candlestick pattern at support. However, with the RSI remaining somewhat subdued and heavy short positioning still in the system, a period of range-bound consolidation between 24,300 and 24,800 remains likely in the near term.
