Stocks to buy for short term: From Apollo Hospitals to Godrej Consumer— Ajit Mishra of Religare Broking suggests 3 names
While US President Donald Trump's surprise 25 per cent tariff announcement on India initially triggered a knee-jerk reaction, a gradual recovery in heavyweight stocks across sectors helped the market briefly turn positive and end with mild losses.
The Nifty 50 ended 0.35 per cent lower at 24,768.35 on Thursday, July 31.
Ajit Mishra, SVP of research at Religare Broking, pointed out that as the August derivatives series begins, the market is likely to consolidate, but global developments and corporate earnings will continue to drive volatility.
"We maintain our cautious stance and recommend a stock-specific approach, given the mixed trends across sectors. Traders should also avoid averaging down on loss-making positions," said Mishra.
Mishra suggests buying shares of Apollo Hospitals, Cipla, and Godrej Consumer Products for the short term.
Mishra underscored that Apollo Hospitals continues to demonstrate a structurally strong uptrend on the weekly chart, with the price maintaining its position well above the 100-week EMA.
After a prolonged steady uptrend phase, the stock witnessed a corrective decline, finding support near the long-term moving average. This correction was followed by a sharp V-shaped recovery, reinforcing bullish sentiment.
The stock is now trading near its all-time highs, consolidating in a tight range—a healthy sign, indicating strength and possible continuation.
The rising trend line from recent lows remains intact, supporting the current price action.
"Volume patterns are relatively stable, and any breakout above the recent highs could lead to the next leg of the rally. Overall, the structure favours bullish continuation with immediate support near ₹ 7,200 and the 100 WEMA acting as a long-term cushion," said Mishra. Apollo Hospitals Enterprise technical chart
Mishra highlighted that Cipla has exhibited a classic technical progression marked by a strong base formation followed by a robust rally, reflecting underlying institutional accumulation.
Post this rally, the stock entered a prolonged consolidation phase between ₹ 1,400– ₹ 1,575, indicating a healthy pause within a primary uptrend.
This rectangle pattern near the highs reflects time-wise correction rather than price damage, suggesting strength in structure.
The breakout from this range, supported by a bullish candle and pickup in volume, signals a potential resumption of the broader trend.
"Price continues to trade above key moving averages, which are aligned positively, reinforcing bullish sentiment. The breakout zone near ₹ 1,525 now becomes immediate support, while the stock eyes a potential move toward ₹ 1,675– ₹ 1,740 zone," said Mishra. Cipla technical chart
According to Mishra, Godrej Consumer has exhibited a strong upward rally in the past, followed by a broad consolidation phase, which resembles a trend continuation pattern.
"After peaking near ₹ 1,500, the stock retraced and found demand around the 200-week EMA zone near ₹ 1,080, where it formed a base. Since then, price action has turned range bound between ₹ 1,100– ₹ 1,300, forming a rectangular consolidation on the weekly chart," Mishra observed.
"The long-term EMA continues to slope upward, confirming that the broader trend remains bullish. On the downside, the ₹ 1,080– ₹ 1,100 zone will act as a strong support area, with immediate support around 1190. The fresh buoyancy in the FMCG pack is added positively," Mishra said. Godrej Consumer Products technical chart
Read all market-related news here
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of the expert or broking firm, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
17 minutes ago
- Time of India
Donald Trump Threatens To 'Substantially Increase' Tariffs On India Over Russian Oil
U.S. President Donald Trump has threatened steep tariffs on India, accusing it of profiting from the Ukraine war by buying and reselling Russian oil. A 25% tariff on Indian imports is set to take effect on August 7, with further penalties possible. Despite the warning, India remains firm on its energy strategy, citing market-based decisions. Russia now supplies nearly 40% of India's crude oil, up from just 2.5% before the war. The government says refiners will continue sourcing oil commercially, prioritizing energy security. The move places India in a diplomatic bind as it balances strategic autonomy with mounting U.S. pressure.#donaldtrump #indiatariffs #russianoil #trumpsocial #ukrainewar #crudeoil #energysecurity #geopolitics #tradepolicy #toi #toibharat Read More
Time of India
17 minutes ago
- Time of India
PB Balaji to take the wheel as JLR CEO — First Indian to lead iconic automaker
Tata Motors has announced P.B. Balaji as the new CEO of Jaguar Land Rover, effective November 17, 2025, making him the first Indian to lead the luxury automaker. He succeeds Adrian Mardell, who is retiring after 35 years. Balaji's appointment comes as Tata Motors undergoes a demerger and JLR navigates its electric transition. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Tata Motors has appointed P.B. Balaji as the next Chief Executive Officer of Jaguar Land Rover (JLR), effective November 17, 2025, the company said in a notification to the stock exchanges. With this, Balaji becomes the first Indian to lead the British luxury automaker, marking a symbolic and strategic milestone for both JLR and Tata Motors , its parent will succeed Adrian Mardell , who will retire after three years at the helm and 35 years of dedicated service to the company. Mardell is credited with leading a sharp turnaround at JLR during an era of electric transition and global announcement comes at a pivotal time not only for JLR but also for Tata Motors, which is currently in the process of demerging its passenger vehicle and commercial vehicles businesses. from Indian stock exchanges. As a result of this ongoing transition, the company may no longer require a Group Chief Financial Officer, a role Balaji has held since move to JLR, therefore, may also reflect an evolving corporate structure within the Tata automotive ecosystem . It is set to list its CV business in October this year.N. Chandrasekaran, Chairman of Tata Sons, Tata Motors, and JLR, stated: 'I would like to thank Adrian for his stellar leadership and record-setting performance. I am delighted to appoint Balaji as his successor. He knows JLR intimately and is well positioned to carry forward the 'Reimagine' strategy.'Balaji, an alumnus of IIT-Chennai and IIM-Kolkata, brings with him 32 years of global experience in the automotive and consumer goods sectors, having led large multicultural teams across Mumbai, London, Singapore, and Switzerland. His financial acumen and strategic leadership have been instrumental in Tata Motors' successful transformation on his new role, Balaji said: 'It is my privilege to lead this iconic company. Over the past eight years, I've come to deeply admire JLR and its exceptional brands. I look forward to the road ahead with optimism and purpose.'Since Tata Motors acquired JLR in 2008, the automaker has seen four CEO transitions–David Smith, Ralf Speth,Thierry Bolloré, and Adrian Mardell. Balaji's appointment represents both continuity and change as JLR navigates its next phase of electrification, innovation, and global repositioning.
The Hindu
17 minutes ago
- The Hindu
Trade unions, farm outfits demand parliamentary approval of trade treaties
A joint statement by ten Central Trade Unions (CTUs) and the Samyukt Kisan Morcha (SKM) on Monday (August 4, 2025) has demanded a parliamentary review of the Comprehensive Economic Trade Agreement (CETA) signed recently with the United Kingdom. The organisations asked the Union government to reject United States President Donald Trump's 'tariff threats' and assert India's sovereign right to trade with all nations, including Russia. The statement said the India-U.K. CETA must be reviewed and altered immediately, with no ratification in Parliament. 'All negotiations for a U.S.-India trade deal must be halted to prevent further corporate exploitation. No more secret trade agreements — all future deals must undergo full parliamentary scrutiny and public consultation,' the joint statement added. The organisations said East India Company colonised India through trade and today, CETA and U.S. trade deals are the new instruments of corporate imperialism. 'On August 13, farmers and workers will rise in defence of sovereignty and freedom, sending a clear message: We will not let history repeat! Quit India, again,' the statement added. Economic coercion by U.S. Terming the U.S. import tariffs on India as a blatant act of economic coercion, the trade unions and farmers' outfits said the new duties are aimed at dictating India including its trade relations with Russia. 'These aggressive measures expose the hypocrisy of U.S. trade policies, which demand open markets for American corporations while weaponising tariffs to bully sovereign nations,' they said. Alleging that the Centre has surrendered to these threats, the SKM and CTUs said it was further evident in the recently signed CETA, which according to them is a deal that sacrifices the interests of India's farmers, workers, and economic independence at the altar of foreign corporate profits. Compromising India's strategic autonomy 'Instead of firmly rejecting this intimidation, the Central government has responded with silence, signalling its willingness to compromise India's strategic autonomy in favour of U.S.A. This capitulation paves the way for an even more exploitative India-U.S. trade deal, which would grant American agribusiness corporations like Cargill unrestricted access to India's dairy sector, agriculture, resulting in collapsing prices and destroying the farming community along with endangering food security of the nation. It would also trigger de-industrialisation in India and skyrocketing unemployment,' the statement said.
