Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying Indian Hotel, PFC shares tomorrow
The week began on a positive note, but the momentum slowed down in the following days due to mixed indicators. In the end, the benchmark indices rose, with the Nifty 50 finishing at 24,631.30 and the Sensex at 80,597.66.
Experts suggest that in the upcoming week, investors will monitor domestic high-frequency data, including HSBC India Manufacturing, Services, and Composite PMIs, for insights into growth momentum.
On the global front, US economic indicators such as building permits, housing starts, FOMC minutes, jobless claims, and PMI flash surveys will be under close scrutiny.
On the technical front, Dharmesh Shah believes Nifty 50 to head towards psychological mark of 25,000 in the coming weeks. Shah recommends two stocks to buy this week, here's what he says about the overall stock market. Investors should consult experts before making decisions.
Equity benchmark snapped six weeks losing streak and settled the week at 24,600 up 1% tracking lowest inflation print in 8 years. Further, record breaking Mutual Fund inflows boosted market sentiment. Sectorally, Pharma, Auto and PSU Banks witnessed strong rebound. The weekly price action resulted into bull candle carrying higher low, indicating pause in corrective bias after six consecutive weeks decline.
The Trump-Putin Alaska summit ended with some progress (without any economic sanctions) which is a positive sign and market would breathe a sigh of relief. Further, the Indian Government's reform push of moving to two-slab GST structure would boost the market sentiment leading Nifty 50 to head towards psychological mark of 25,000 in the coming weeks. In the process, bouts of volatility would prevail tracking tariff development which would offer incremental buying opportunity.
Key point to highlight is that, despite tariff headwinds over past couple of months Nifty 50 managed to hold 24,500 on a weekly closing basis, indicating most of the negativity around tariff development is now getting priced-in. Hence, any positive development from hereon could boost market sentiment and thereby we expect 24,200 to continue to act as key support being 200 days EMA coupled with the Mid-May Gap aera and 38.2% retracement of entire up move seen from April lows (21,743).
Structurally, we are in a secular bull market, wherein intermediate corrections due to Global as well as domestic uncertainties have offered incremental buying opportunity from medium term perspective as higher bottom on a lager degree time frame are still intact. Hence, we advise investors to avoid noise and instead capitalise current corrective phase to build quality portfolio backed by strong earnings in a staggered manner based on following observations:
a. In the technical parlance, 52 weeks EMA (Equivalent to 200 days) has the utmost importance where long term accumulation take place. The index is finding key support zone of 24,200-24,000 being 52 weeks EMA amid oversold condition.
b. On the market breadth front, the % of stocks above 50 days SMA have bounced from lower band of bull market phase (30-25). Historically, buying in such scenario have garnered decent returns in subsequent months.
Dharmesh Shah of ICICI Securities recommends buying Indian Hotel, and Power Finance Corporation Ltd (PFC) shares this week.
1. Buy Indian Hotel in the range of ₹ 755-771. He has Indian Hotel share price target of 824 with a stop loss of ₹ 729
2. Buy PFC shares in the range of ₹ 410-420. He has PFC share price target of ₹ 478 with a stop loss of ₹ 388.
Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 14/08/2025 or have no other financial interest and do not have any material conflict of interest.
The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
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