According to The Times of India, Aakash K Hindocha, Vice President - Research at Nuvama Professional Clients Group/Nuvama Wealth Management, has identified Ambuja Cements, Asahi India Glass, and Pfizer as top buy calls for August 6, 2026. The expert has also provided technical outlooks for Nifty50 and Bank Nifty, highlighting key resistance and support levels for both indices.
As reported by The Times of India, Ambuja Cements has experienced a decisive breakout from a five-month symmetrical triangle formation with a Lowest Cost Price (LCP) of ₹445, Stop Loss at ₹427, and Target of ₹478. The stock has consistently formed higher lows throughout the pattern, reflecting sustained buying interest and accumulation at lower levels. The breakout strengthens the bullish structure and suggests potential for further upside toward the 200-Day Moving Average (DMA) resistance around ₹480 zone.
According to The Times of India, Asahi India Glass has witnessed a decisive breakout above an eight-month declining trendline on weekly charts, signalling a potential reversal of the intermediate-term trend. The stock has reclaimed and closed above its 200-Day Moving Average (DMA) on daily timeframe, indicating an improvement in long-term price momentum. The stock has registered its highest closing in the last five months, reflecting sustained buying interest and confirming the breakout which allows for a further 6-8% up move in the short term.
As reported by The Times of India, Pfizer has witnessed a decisive breakout above a 12-month downward sloping trendline on weekly charts, signalling the end of its prolonged corrective phase. The stock has reclaimed its 200 DMA on daily timeframe while simultaneously completing a 6-month base formation, indicating sustained accumulation at lower levels. The bullish developments across multiple timeframes confirm the completion of a medium-term bottoming pattern for a target of around ₹5300 in the short term.
According to The Times of India, Nifty ended marginally in green yesterday despite facing a negative trend throughout the session, as it recovered in adjustment trade. The index did face a profit taking bout and filled the gap between Friday and Monday opening in the past 2 trading days. The current short covering rally is being fuelled by a cooldown in oil prices and US10Y yields, with an important mark to watch on US10Y closing below 4.60% this week. Bank Nifty showed similar price action with quick gap filling bout after negating majority of intraday losses in the CAS adjustment window, recovering below its 200 DMA support for the past 3 trading days.
