Ajit Mishra of Religare Broking recommends buying these stocks on July 25

Nifty: CMP: 24,413.50

The markets traded lackluster and ended slightly lower, continuing the ongoing consolidation phase. After a flat start, the Nifty fluctuated within a narrow range, eventually closing at 24,413.50. Sector-wise, the trend was mixed, with energy, realty, and pharma showing decent gains, while the banking and FMCG sectors declined. Notably, the broader indices performed well amid volatility, gaining between 1 per cent and 2 per cent.

Nifty has remained firmly above the 20-day exponential moving average (DEMA) during this

consolidation, indicating that the bulls are maintaining their grip despite weakness in the banking sector.

We recommend maintaining a positive yet cautious stance on the index until the Nifty decisively breaks below 24,200. Additionally, we reiterate our preference for index majors over others and suggest monitoring position sizes.

Stocks Recommendations

Apollo Hospitals Enterprise | LTP: Rs 6,422.60 | Buy | Target: Rs 6,660 | Stop-loss: Rs 6,300

We have been seeing noticeable traction in the defensive pack and Apollo Hospitals is trading in sync. It has been steadily rising following a breakout from a falling channel pattern and comfortably maintaining its position above key exponential moving averages (EMAs). Additionally, momentum indicators show a rising trend, further reinforcing the bullish outlook.

Crompton Greaves Consumer Electricals | LTP: Rs 443.00 | Buy | Target: Rs 477 | Stop-loss: Rs 426

Crompton has been gradually inching higher after the reversal in May 2024. It has formed a fresh buying pivot while holding above the support zone of short term moving average i.e. 20 EMA on the daily chart and looks set for a breakout now. Traders can consider fresh longs in the mentioned range.

IndiaMart InterMesh | LTP: Rs 3,007.55 | Buy | Target: Rs 3,170 | Stop-loss: Rs 2,930

It has registered breakout from a multi-month consolidation with strong volumes. The consolidation has created a strong base at 61.8 per cent retracement of its previous rally that was observed from the day of listing till Feb 2021. The strong uptick in volumes with the price action further confirms the bias.

(Ajit Mishra is a SVP of research at Religare Broking. Views expressed are his own.)