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Stock market today: Trade setup for Nifty 50, Trump tariffs to Jackson Hole Symposium; 8 stocks to buy or sell on Monday

Stock market today: Trade setup for Nifty 50, Trump tariffs to Jackson Hole Symposium; 8 stocks to buy or sell on Monday

The Indian stock market ended the week on a mixed note, with Nifty-50 registering gains while Bank Nifty saw marginal weakness. As we head into a fresh trading week, analysts highlight key support and resistance levels for the indices, along with stock-specific trading opportunities.

Weekly Market Recap

For the week ending 22 August, the Nifty-50 index closed at 24,870.10, marking an almost 1% weekly gain. In contrast, Bank Nifty ended at 55,149.40, down 0.4% week-on-week. Sectorally, Autos, FMCG, Real Estate, and Telecom emerged as top performers, while Utilities lagged behind.

Trade Setup for Monday

According to Sudeep Shah, Vice President & Head of Technical and Derivatives Research, SBI Securities, the following levels will be crucial for traders:

  • Nifty-50 support: 24,650–24,600

  • Nifty-50 resistance: 25,050–25,100

  • Bank Nifty support: 54,900–54,800

A move beyond these ranges may dictate near-term market momentum.

Global Market Cues

Globally, investors are expected to closely track domestic data releases, including the HSBC Manufacturing, Services, and Composite PMIs, along with key IIP and GDP numbers. On the international front, markets will watch the impact of the US Fed Chair’s dovish remarks at the Jackson Hole Symposium and ongoing geopolitical developments. These will play a crucial role in shaping investor sentiment in the coming sessions, according to Ajit Mishra, SVP, Research, Religare Broking Ltd.

8 Stocks to Buy or Sell Today

Market experts have shared their top intraday picks for Monday. Here are the recommendations from Sumeet Bagadia (Choice Broking), Ganesh Dongre (Anand Rathi), and Shiju Koothupalakkal (Prabhudas Lilladher):

Sumeet Bagadia’s Picks

  1. UNO Minda Ltd (₹1267.7)

    • Buy with Stop Loss at ₹1223

    • Target: ₹1357

    • Reason: Strong breakout from consolidation with high volumes; momentum expected to continue above all-time high levels.

  2. Bharti Hexacom Ltd (₹1859)

    • Buy with Stop Loss at ₹1794

    • Target: ₹1990

    • Reason: Stock is recovering after profit booking near highs; bullish trend structure intact.

Ganesh Dongre’s Picks

  1. ICICI Bank Ltd (₹1436)

    • Buy with Stop Loss at ₹1415

    • Target: ₹1470

    • Reason: Bullish engulfing candlestick pattern and RSI rebound indicate potential short-term reversal.

  2. Aurobindo Pharma Ltd (₹1050)

    • Buy with Stop Loss at ₹1020

    • Target: ₹1100

    • Reason: Strong support at ₹1020; reversal signals point to upside potential.

  3. Hindustan Aeronautics Ltd (₹4480)

    • Buy with Stop Loss at ₹4250

    • Target: ₹4750

    • Reason: Bullish reversal pattern with solid support base; near-term rebound expected.

Shiju Koothupalakkal’s Picks

  1. Enviro Infra Engineers Ltd (₹268.25)

    • Buy with Stop Loss at ₹262

    • Target: ₹284

    • Reason: Higher bottom formations and RSI strength signal bullish momentum.

  2. Waaree Renewable Technologies Ltd (₹1065.90)

    • Buy with Stop Loss at ₹1040

    • Target: ₹1120

    • Reason: Recovery from correction; bullish candle above 50 EMA indicates upside continuation.

  3. Aditya Birla Lifestyle Brands Ltd (₹142.80)

    • Buy with Stop Loss at ₹139

    • Target: ₹152

    • Reason: Bounce from oversold zone with improving volumes and bullish candle formation.

Key Takeaway

The Indian stock market is entering the new week with cautious optimism, backed by strong sectoral performance and technical support levels. While Nifty-50 continues to hold above 24,600, resistance near 25,100 remains the key barrier to watch. Traders should closely track global cues from the Jackson Hole Symposium and domestic economic data releases, as these will influence near-term trends.

Disclaimer: The stock recommendations mentioned are those of individual analysts and brokerage firms. Investors are advised to consult certified financial experts before making investment decisions.


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