Market expert Raja Venkatraman from NeoTrader has released his top stock picks for August 6 trading, recommending three stocks with specific technical entry points and targets. According to his analysis, Indian markets closed slightly higher on August 5, 2026, as the Reserve Bank of India kept the repo rate steady at 5.25% while raising its FY27 GDP growth forecast to 6.7% and lowering inflation expectations to 5%. The Sensex gained 152 points, or 0.19%, to end at 78,581, while the Nifty edged up 9.75 points, or 0.04%, to 24,624.65. The market showed mixed sectoral performance with Realty, Auto, and Metals leading gains on optimism around festive demand and domestic growth, while Media, Banking, IT, and Pharma slipped. Midcaps rose 0.18% and smallcaps advanced 0.7%, with market breadth favoring advances. The rupee strengthened to 95.15 per dollar, supported by the RBI's balanced stance, though rising crude prices capped upside momentum.
RITES Ltd is recommended as a buy above ₹229 with a stop loss at ₹218 and target of ₹255 over a two-month period. The stock has a 52-week high of ₹280.60 with volume of 2.93M. As reported by NeoTrader, RITES (Rail India Technical and Economic Service) is a Navratna public sector enterprise under the Ministry of Railways, operating as a multidisciplinary engineering and consultancy company providing infrastructure services from concept through commissioning. Since March 2026, prices have been slowly climbing above the Cloud, with recent dips seeing firm buying. In the recent Q1 update, a Kumo cloud revival that is inching higher indicates possible upward momentum. Support is at ₹200 with resistance at ₹260. The stock carries P/E ratio of 26.94 and faces risk factors including margin pressure from revenue mix shifting toward lower-margin turnkey projects and execution delays.
HFCL Ltd is recommended as a buy above ₹215 with a stop loss at ₹203 and target of ₹240 over a two-month period. The stock has a 52-week high of ₹229.40 with volume of 37.48M. According to NeoTrader, HFCL Ltd (formerly Himachal Futuristic Communications Ltd) is a prominent Indian technology and manufacturing company founded in 1987. The stock has seen strong uptick with the IT sector showing momentum, with profit-booking finding support at the Tenkan Sen and Kijun Sen. Support is at ₹197 with resistance at ₹245. The stock carries P/E ratio of 68.54 and faces risk factors including high reliance on the telecom sector, severe capital expenditure cycles, working capital constraints, and intense industry competition.
DEVYANI International Ltd is recommended as a buy above ₹126 with a stop loss at ₹121 and target of ₹137 over a two-month period. The stock has a 52-week high of ₹1,354 with volume of 785.78K. According to NeoTrader, DEVYANI International Ltd (DIL), founded in 1991 and based in Gurugram, India, is the country's largest franchisee for Yum! Brands. The steady rounding pattern that has emerged since January 2026 has formed a base since March, with prices attempting recovery above the cloud region and steady increase in volumes combined with rising ADX DMI indicating sustained momentum. Support is at ₹115 with resistance at ₹135. The stock carries risk factors including market shifts, operational failures, or regulatory changes that could materially harm the company's business prospects.
According to NeoTrader's analysis, sectoral performance was mixed with Realty, Auto, and Metals leading gains on optimism around festive demand and domestic growth, while Media, Banking, IT, and Pharma slipped. Key gainers included Shriram Finance, Grasim Industries, and JSW Steel, while TCS, Apollo Hospitals, and HCLTech dragged. In the broader market, midcaps rose 0.18% and smallcaps advanced 0.7%. The Nifty has surpassed the 24,600 level after repeated attempts, with immediate supports at 24,500 and resistances moving to 24,900. The Max Pain Point remains at 24,550 that will come in contention as the possibility of a rebound unfolds. Currently, levels around 24,300 could be revised to 23,400, with this level serving as new support and a buying zone in the next few days. A closing move of 23,800 is needed for the trend to sustain, as the heavy Call writing seen at 24,600 to 24,800 is now holding the charge of the bullish camp.
