The Nifty 50 fell 74 points, or 0.30%, to 24,426.85, while the Sensex dropped 271 points, or 0.34%, to 79,809.65, both slipping below key moving averages. The Bank Nifty declined 165 points to 53,655.65, underperforming amid broad-based selling in financials, while IT stocks also weighed on indices. Persistent foreign investor outflows and concerns over trade and earnings outlook reinforced the cautious tone in the market.
Top three stock picks for 28 August by Ankush Bajaj
Buy: Maruti Suzuki India Limited — Current Price: ₹14,791.00
Why it’s recommended: Maruti Suzuki is showing exceptional momentum. The daily RSI stands at 86, signaling very strong bullish appetite. The MACD is overwhelmingly positive at 580, while an ADX of 36 confirms the strength of the uptrend. The stock is comfortably trading above all its moving averages, reinforcing the robustness of the rally.
Key metrics:
RSI: 86 — extremely bullish
MACD: +580 — powerful upward momentum
ADX: 36 — strong trend strength
Price position: Well above all key moving averages, confirming bullish structure
Risk factors: Raw material sourcing risks: The company relies heavily on imported inputs for EV production—particularly lithium and rare-earth elements—making it vulnerable to supply disruptions and geopolitical shifts.
Competitive and regulatory pressure: Maruti faces intensifying competition from domestic rivals like Tata, Mahindra, and international players like Hyundai. Coupled with stricter safety and emissions norms, sustaining market share will require strategic agility.
Demand sensitivity: Domestic demand remains patchy, with weak rural consumption offset by strong exports. Economic slowdowns could weigh further on domestic volumes.
Trade setup:
Buy at: ₹14,791
Target price: ₹15,000
Stop loss: ₹14,687
Buy: Nava Limited — Current Price: ₹687.70
Why it’s recommended: Nava is demonstrating healthy bullish momentum. Its daily RSI is at 67, pointing to rising strength. The MACD sits in positive territory at +18, and the ADX of 26 suggests a trend gaining clarification. On the 15-minute chart, a classic bullish pennant pattern has formed—often a continuation signal that precedes fresh upside.
Key metrics:
RSI: 67 — bullish momentum building
MACD: +18 — upward bias
ADX: 26 — trending structure strengthening
Pattern: 15-min bullish pennant—supports continuation thesis
Risk factors: Limited liquidity: As a small-cap stock, Nava may exhibit high volatility, sharp swings, and wide bid-ask spreads—posing execution and slippage risks.
Sector sensitivity: Its niche operations may be sensitive to macroeconomic shifts or discretionary spending trends, raising uncertainty about demand stability.
Governance/transparency: Limited public disclosure or analyst coverage can make it harder to assess fundamentals or emerging risks.
Trade setup:
Buy at: ₹687.70
Target price: ₹758
Stop loss: ₹650
Buy: Godfrey Phillips India — Current Price: ₹11,003.50
Why it’s recommended: Godfrey Phillips exhibits a strong technical setup—daily RSI at 62 indicates healthy bullish momentum; ADX is elevated at 42, signaling a robust trend; and MACD stands at +449, supporting continuation bias. These align with a strong structural base in the tobacco space.
Key metrics:
RSI: 62 — bullish momentum
MACD: +449 — solid uptrend strength
ADX: 42 — trend dominance
Risk factors: Margin pressure: As a contract manufacturer (notably for Marlboro), it faces volatility in gross margins due to product mix shifts and competitive pricing dynamics.
Operational risks: Expansion in digital or quick-commerce may disrupt traditional distribution channels; plus, regulatory complexity can impact operational efficiency.
Regulatory exposure: Tobacco remains a highly regulated industry with health-focused legislation, packaging norms, and excise policies potentially affecting volume and profitability.
Trade setup:
Buy at: ₹11,003.50
Target price: ₹11,950
Stop loss: ₹10,520
Trade Brains Portal recommends two stocks for today:
ITC Ltd
Current price: ₹409
Target price: ₹495 in 12 months
Stop loss: ₹365
Why it’s recommended: ITC is one of the biggest FMCG companies in India, which has a broad portfolio of businesses in the fast-moving consumer goods, paperboard and packaging, agribusiness, and information technology sectors. The company is the market leader in India’s paperboard and packaging industry. ITC Consumer Goods has built a solid reputation over the last 10 years with about 25 premium Indian brands, including Yippee, Sunfeast, and Aashirvaad.
In Q1FY26, strong growth was registered in gross revenue, which stood at ₹ ₹23,007 crore, up 20% year-on-year, driven by cigarettes, agribusiness, and FMCG. Ebitda stood at ₹6,816, up 4.2% on-year, whereas PAT stood at ₹5,343 crore, up by 4.9% on-year. The cigarettes segment revenue grew by 7.6% on-year as of Q1FY26 and stood at ₹8,520 crore, whereas the FMCG segment grew by 5.2% on-year and stood at ₹5,777 crore. Agribusiness has done very well in Q1FY26, as it has registered an astounding growth of 38.9% on-year and stood at ₹9,685 crore, driven by trading opportunities in bulk commodities and exports of leaf tobacco.
The company has a competitive advantage due to its vertically integrated supply chain and a strong network of 27,500 farmers covering 140,000 acres of certified organic land in 10 states. In addition, the company paid ₹50.6 crore to acquire Mother Sparsh Baby Care Pvt. Ltd (also known as Mother Sparsh), a high-end ayurvedic and natural baby care provider. ITC has increased its stake from 26.50% to 39.47%. ITC spent ₹81 crore, or ₹126 crore, over the course of two to three years to acquire the remaining 73.5% of Mother Sparsh. The company has entered into a new segment of the FoodTech business under its ITC Next strategy; this segment’s GMV crossed ₹100 crore in FY25 with 60 cloud kitchens across five cities.
Risk Factor: The company’s tobacco division is heavily regulated. The business may be significantly impacted by any regulatory development. They make a major profit from the tobacco business. The company is exposed to raw material risk as agricultural commodities are vulnerable to climate change. Crop yield variation may harm the agribusiness operations of the company.
Bharat Heavy Electricals Ltd
Current price: ₹208
Target price: ₹265 in 12 months
Stop loss: ₹179
Why it’s recommended: BHEL, a major player in the capital goods industry, has been a public sector undertaking of the Indian government since 1964. The company now serves a wide range of power and industry sectors, providing products, systems, and services for power generation (thermal, hydro, gas, nuclear, and solar PV), transmission, transportation, defence, aerospace, oil and gas, and other strategic sectors both domestically and internationally. In addition to its presence in 91 countries, BHEL has established 16 manufacturing facilities, two repair facilities, five research institutes, and 15 centres of excellence in India and other countries.
The company generated revenue of ₹28,339 crore from operations in FY25, registering a growth of 18.61% on-year. In Q1FY26, revenue from operations stood at ₹5,486.91 crore. It increased its Ebitda to ₹1,707 crore in FY25, a growth of 47.28% on-year, while its PAT stood at ₹534 crore, an increase of 89.36% on-year. In Q1FY26, the company registered the highest-ever outstanding order book of ₹2,04,375 crore. It has successfully grown its order book by 17.76% CAGR since FY21. In FY25, BHEL has secured orders aggregating to ₹81,349 crore in the power sector, which includes the company’s highest-ever order booking in the thermal power segment.
In FY25, it added 3,850MW of capacity to utility power projects, including 700MW of hydropower and 3,150MW of thermal power. BHEL has maintained its leadership position in the Indian thermal power industry by winning contracts for twelve 800MW thermal power units totalling 9.6GW. It maintains a domestic market share of 56% in nuclear and 46% in hydro. In FY25, the company commissioned 8.1GW of power capacity into operation. Furthermore, it is expected that India’s electrical equipment market share will increase at a CAGR of 11.68%, from $52.98 billion in 2022 to $125 billion in 2027.
Risk Factor: It is exposed to volatility in the power sector and structural issues such as delays in land acquisition and environmental clearances, availability of fuel and funding, and the weak financial position of many state power utilities, which were among its key clients. Moreover, 80% of the order book consists of power sector projects. It has high working capital requirements with sizeable receivables, including contract assets and inventory levels. It faces the risk of doubtful receivables.
Three auto component stocks to buy, recommended by NeoTrader’s Raja Venkatraman
CRAFTSMAN (current market price ₹6,912.50)
Buy above ₹6,920 and on dips near ₹6,500; target: ₹7,500-7,800; stop loss: ₹6,400
Why it’s recommended: Craftsman Automation Limited is a diversified engineering company founded in 1986 that specializes in precision machining, aluminium casting, and industrial engineering for the automotive and other industrial sectors. Over the past few months the stock price has been forming a rounding pattern and generating a steady revival. A push over the past few days has led to a 52-week high, indicating momentum is holding despite adverse market conditions. With the ADX/DMI continuing to push for more upside, this counter could be considered for an investment.
Key metrics:
P/E: 161.85
52-week high: ₹7,289.95
Volume: 279.30K
Technical analysis: Support at ₹490, resistance at ₹640
Risk factors: Issues arise rising input costs, increasing competition from imports, and a shift towards digital media.
Buy: above ₹6,920 and dips to ₹6,500
Target price: ₹7,500-7,800 in 2 months
Stop loss: ₹6400
AJAXENGG (current market price: ₹719.30)
Buy above ₹725 and on dips to ₹690; target ₹795-835; stop ₹670
Why it’s recommended: This counter managed to hold on to key support zones around 380 and recover quickly in the latter half of the week. Sizeable volumes suggest it could now rise the next resistance zone around 450. Demand at lower levels and a long body bullish candle suggests more upside in the coming sessions.
Key metrics:
P/E: 31.63
52-week high: ₹756.75
Volume: 396.09K
Technical analysis: Support at ₹625, resistance at ₹900
Risk factors: Issues arise rising input costs, increasing competition from imports, and a shift towards digital media.
Buy: above ₹725 and dips to ₹690
Target price: ₹795-835 in 2 months.
Stop loss: ₹670
LUMAXTECH (current market price: ₹1,174.70)
Buy above ₹1,175 and on dips to ₹1,120; target ₹1,295-1,325; stop ₹1,098
Why it’s recommended: The stock is stepping out of a consolidation zone, with the trend firmly hinting at potential upside in the coming days.
Key metrics:
P/E: 81.04
52-week high: ₹1,231.90
Volume: 1.41M
Technical analysis: Support at ₹849, resistance at ₹1,400
Risk factors: Issues arise rising input costs, increasing competition from imports, and a shift towards digital media
Buy: above 1175 and dips to ₹,1120
Target price: ₹1,295-1,400 in 2 months
Stop loss: ₹1,120
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Pvt. Ltd, and its Sebi-registered research analyst registration number is INH000015729.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.