Raja Venkatraman recommends three stocks for 11 August
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Stock market recap: Indian markets closed flat on 10 August. The Sensex rose 43 points, or 0.06%, to end at 78,542, while the Nifty 50 inched up by 13 points, or 0.05%, to settle at 24,583.80. The Nifty Midcap 100 index rose by 0.62%, while the Smallcap 100 index dropped 0.27%. Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman: CHOLAFIN (Cmp 1920) - Why it’s recommended: CholaFin is a leading Indian non-banking financial company (NBFC) providing vehicle finance, home loans, loans against property, and SME financing through over 1,700 branches across India. After some consolidation the prices took some time to stage an upmove and then has been contemplating the next move. The strong thrust above its value area resistance 1850 has been overcome to attract some buying interest to stage a fresh breakout. With the Relative Strength Index support, it can lead to a strong upward move in the coming weeks. Go long. - Key metrics: - P/E Ratio : 28.53 - 52-week high: ₹1952, - Volume: 1.59M - Technical analysis: Support at ₹1741, resistance at ₹2300. - Risk factors: Asset quality management, credit profile deterioration, regulatory transitions, and corporate governance scrutiny. - Buy: above ₹1920. - Stop loss: ₹1800. - Target price: ₹2250 (2 Months) MAZDOCK (Cmp ₹2575) - Why it’s recommended: Mazagon Dock Shipbuilders is a premier Navratna defence public sector undertaking under the Ministry of Defence and India’s leading shipbuilder. Every pullback has been witnessing some steady buying interest around 2250-2280 zone . A rounding pattern with some steady volumes that is indicating that the negative results are being absorbed is clearly indicating that the trends are now reviving. Consider going long - Key metrics: - P/E: 41.10, - 52-week high: ₹3061, - Volume: 1.47M. - Technical analysis: Support at ₹2400, resistance at ₹2900. - Risk factors: Declining Order Backlog,Single-Buyer Vulnerability and Fixed-Price Onerous Provisions. - Buy: above ₹2580 - Stop loss: ₹2470 - Target price: ₹2800 (2 Months) INFY (Cmp 1183) - Why it’s recommended: Infosys is a global Indian multinational technology company providing business consulting, information technology, and outsourcing services. The IT sector has been on a strong recovery since June 2026, with a V-shaped recovery, as the AI bubble has seen a pause to finally move above the cloud region. The prices have also seen a steady increase in volumes, combined with the rising RSI, indicating that there is no sign of let-up in momentum. A break above 3300 was a key event that is now initiating us to go long. - Key metrics: - P/E Ratio: 15.82 - 52-week high: ₹1728 - Volume: 9.38M - Technical analysis: Support at ₹1089, resistance at ₹1350. - Risk factors: Muted discretionary client spending, AI-driven revenue deflation, and macroeconomic headwinds. - Buy : above ₹1185. - Stop loss: ₹1135. - Target price: ₹1310. Stock Market Today Indian equities ended flat on 10 August, with the Sensex up 43 points at 78,542.44 and the Nifty marginally higher by 13 points at 24,583.80, as rising crude oil prices and uncertainty around the Strait of Hormuz capped gains despite supportive corporate earnings. Indian markets traded in a narrow range throughout the session, reflecting cautious investor sentiment amid geopolitical tensions in West Asia. The Nifty PSU Bank index fell nearly 2%, emerging as the worst sectoral performer, while Pharma and FMCG also slipped. On the positive side, Nifty Realty gained 1.35%, supported by strong demand outlook, and IT stocks rose 0.27% on expectations of a softer U.S. interest rate path benefiting dollar-linked earnings. In the broader market, midcaps advanced 0.62%, while smallcaps declined 0.27%, highlighting mixed participation. Key gainers included Titan, Tata Consumer, and Bajaj Finance, while SBI, ITC, and Eternal were among the top losers. The rupee closed nearly flat at 95.21 per dollar, while Brent crude surged 2.88% to $85.96 a barrel, keeping inflation concerns alive. Overall, sentiment remained cautious, with analysts flagging 24,750–24,800 as a crucial resistance zone for Nifty in the near term. Outlook for Trading Strong bullish undercurrent on Monday helped the Nifty survive the volatility and ensured that the rise sustained above critical support zones as the market was whipped around quite a bit. At the moment, the global trends remain the key drivers of the sentiment. There really isn’t much by way of local news flow to contain the volatility induced. The long body candle moves seen were also reasonably large bringing in people to stage a steady buying participation through the day! Trading therefore was quite difficult thru the week and it would have been a wonder if one came out largely unscathed in the week. As one can see the Daily charts the prices have tread into strong resistance at the current close and will need more tailwinds that can fuel more upside. A strong close above the recent gap resistance after a steady test hints at a potential upward drive at the start of the week. The supplies at higher levels will continue to test the confidence, but the recovery that is emerging swiftly from lower levels is signalling that the highs will once again be challenged. The attempts continue to emerge as the market tries to carve out a bullish possibility. Nifty has managed to hold itself above the 24000 Fibonacci resistance zone and is now testing the 24150 zone that could open the door towards 24800, which acts as the next big hurdle as bullish moves unfold. With the Open Interest data clearly indicating a revival, one should keep tracking a 30-minute range breakout on trading continues to be an important metric for creating some longs. One should keep looking at every dip as a buying opportunity. Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. 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 the 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.
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