Top stocks to buy today: Stock recommendations for August 8, 2025 – check list
Stock market recommendations: According to Bajaj Broking Research, JSW Energy, and Hindustan Aeronautics (HAL) are the top stock picks for today. Here’s its view on Nifty, Bank Nifty and the top stock picks for August 8, 2025:Index View: NIFTYBenchmark indices experienced high volatility with a corrective bias, as investor sentiment turned cautious following US President Donald Trump’s executive order imposing an additional 25% import tariff on Indian goods. The action, prompted by India’s continued purchase of Russian oil, raises total US duties on certain Indian exports to 50%—among the steepest tariffs ever imposed on a trade partner by the US.Technically, the index has strong support in the 24,400–24,500 range. This zone aligns with multiple key indicators, including the previous swing low, the 100-day exponential moving average (EMA), and a key Fibonacci retracement level of the recent uptrend.As long as Nifty holds above this support area, the ongoing consolidation phase between 24,400 and 25,000 is expected to remain intact. However, a decisive break below 24,400 may extend the current month-long correction towards the 200-day EMA near the 24,200 level in the sessions ahead.Currently, the 5% decline over the past five weeks has dragged weekly stochastic oscillators into oversold territory (reading near 5). If the index manages to sustain above the 24,400 levels amid continued volatility, it may trigger a technical pullback. It is worth noting that since the COVID-19 lows, the index has not recorded more than five consecutive weeks of declines without experiencing a rebound. Thus, traders are advised to avoid aggressive short positions at this stage.Structurally, the market remains in a secular bull trend. Historically, intermediate corrections driven by global and domestic uncertainties have provided healthy buying opportunities. We recommend investors remain calm amidst the current tariff-induced volatility and use this corrective phase to gradually accumulate fundamentally strong stocks with robust earnings.NIFTY BANKBank Nifty traded within a narrow range with a corrective bias last week, as investor sentiment remained cautious amid ongoing tariff tensions between India and the U.S.The index is currently positioned at a crucial support zone between 55,200 and 54,900. This area coincides with the 100-day exponential moving average (EMA) and key Fibonacci retracement levels from the previous uptrend, marking it as a significant demand zone.On the upside, resistance is expected in the 56,300–56,500 range, which aligns with the lower boundary of the recent breakdown area. A sustained move above this zone could signal a potential pause in the prevailing downtrend or an early sign of waning bearish momentum. Overall, the index is expected to trade within a defined range of 54,900 to 56,400 in the near term, with a clear directional move likely only after a decisive breakout from this range.Stock Recommendations:JSW EnergyBuy in the range of Rs 515-536
The stock has formed a symmetrical triangle pattern over the past six months, typically continuation formation within broader trend cycles. The coiling of price within this triangular structure suggests a state of equilibrium between demand and supply forces, and we anticipate an imminent breakout on the upside as the apex of the triangle is approached.The projected price target from this anticipated breakout stands at ₹598, which is derived from the: (a) Measuring implications of the triangle’s widest point added to the breakout zone. (b) 50% Fibonacci retracement level of the preceding corrective leg from the swing high of ₹804 down to the recent swing low of ₹419, thereby lending additional credence to this resistance target.Hindustan Aeronautics (HAL)Buy in the range of Rs 4500-4580
The stock after the last 2 months corrective decline is witnessing buying demand from the 200 days EMA thus offers fresh entry opportunity with a favorable risk-reward set up. We expect the stock to head higher towards 4870 levels in the coming months being the 61.8% retracement of the last 2 months decline (5165-4401).The daily 14 periods RSI has generated a buy signal moving above its nine periods average thus supporting the positive bias in the stock.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
