 "Stocks to buy today, Aug 21: Exide, Marico, NTPC among analyst top picks")
Market View
The market extended gains for the fifth consecutive session on Wednesday. After a soft start, the Nifty gradually moved higher through the day, led by IT, FMCG, and realty stocks, while banking counters lagged. The index eventually settled with modest gains of 0.28 per cent at 25,050.55. Broader markets outperformed with positive market breadth, reflecting strength beyond frontline names.
Wednesday’s advance was largely supported by buying in large-cap IT stocks and steady domestic sentiment. In the absence of any major domestic triggers, global cues such as updates from the Jackson Hole symposium, geopolitical developments, and discussions in the GST Council meets will remain on investors’ radar.
Technically, the Nifty is inching towards the 25,250 level; however, call writers at the 25,100 strike may attempt to cap the move on the weekly expiry day. On the downside, the 24,800–24,900 zone now acts as a strong support. Participants should continue to focus on stock selection based on sectoral strength and rotation. While broader indices are also trending higher, the pace of advance remains moderate, indicating selective participation; hence, caution is warranted in the midcap and smallcap segments. CATCH STOCK MARKET LIVE UPDATES TODAY
Stocks Recommendations
Exide Industries Limited | LTP: ₹ 396.30| Buy | Target: ₹ 422| Stop-loss: ₹383
Exide Industries has completed a prolonged corrective phase of over a year and is now displaying signs of strength. The stock has formed a strong base around the support zone defined by the moving average ribbon, which highlights stability and renewed buying interest. The revival in the broader auto and auto ancillary basket has further fueled momentum, and Exide is participating in this catch-up rally. Importantly, the recent spike in volumes confirms fresh accumulation, lending credibility to the current up-move. Traders can consider initiating long positions in the given range, with favorable risk-reward dynamics.
Marico Limited | LTP: ₹ 751.85| Buy | Target: ₹ 805| Stop-loss: ₹725
Marico continues to exhibit leadership within the FMCG sector, consistently outperforming peers. The Marico stock has broken out of a multi-week consolidation phase with a decisive up-move, pushing it to fresh record highs. The formation of an elevated base near its earlier breakout zone reflects strong accumulation and investor confidence in the counter. The bullish structure remains intact, supported by positive momentum indicators that are aligned with the prevailing uptrend. This setup indicates scope for further upside in the coming sessions. Investors and traders may look to accumulate within the suggested levels.
NTPC Limited | LTP: ₹ 342| Buy | Target: ₹ 366| Stop-loss: ₹330
After witnessing an initial recovery from ₹290 to ₹370, NTPC has been consolidating in a tight range for more than three months, reflecting a healthy pause. The NTPC stock has consistently found support around the ₹320 zone, underscoring strong demand and resilience at lower levels. Presently, it is hovering near the upper boundary of this consolidation, which coincides with the 200-day EMA—a critical long-term moving average. A sustained breakout above this zone would not only mark the completion of the consolidation but also signal a potential trend reversal, paving the way for a renewed upward trajectory. Long positions may be considered within the prescribed range, keeping the defined stop-loss in place.
(Disclaimer: Ajit Mishra is SVP-Research at Religare Broking. Views expressed are his own.)