Entering the August expiry week, Nifty faces a supply zone at 25,000–25,200, with potential consolidation above 24,800. Bank Nifty appears weaker, needing to surpass 55,500 to avoid further decline. Auto stocks, particularly Hero MotoCorp, Bajaj Auto, and Maruti, show promise amid positive sector trends. Cipla and Maruti are recommended buys, targeting 1,650 and 14,800–15,000 respectively.
Warning Signal? FIIs cut stake in 11 smallcap stocks in the last 3 quarters; prices crash up to 70%
Reliance Power’s shares declined as the Enforcement Directorate filed a chargesheet in a fake bank guarantee case, weighing on investor sentiment and drawing renewed attention