- MarketSmith India has provided stock recommendations for August 13, highlighting five stocks to consider.
- Analysts recommend IDFC First Bank, Bank of Maharashtra, and Pfizer among others for potential investment on August 13.
- On August 13, the Sensex was down 226.84 points, or 0.29%, at 77,739.51, while the Nifty declined 99.30 points, or 0.41%, to 24,336.65.
- Despite positive global cues, Indian markets are under pressure due to concerns over crude prices.
MarketSmith India analysts have identified five stocks to buy on August 13, including IDFC First Bank, Bank of Maharashtra, and Pfizer, despite a downturn in the Indian stock market.12
The Sensex fell by 226.84 points to 77,739.51, while the Nifty dropped 99.30 points to 24,336.65 amid concerns over rising crude oil prices.3
Osho Krishan from Angel One recommends buying Bank of Maharashtra at Rs 80, targeting Rs 86 for a potential upside of 7.50%, with a stop loss at Rs 77.
Vinay Rajani from HDFC Securities suggests IDFC First Bank as a buy with a target price of Rs 90.50, indicating a 5.48% upside, and a stop loss at Rs 81.
Pfizer is also on the radar, with analyst Vijay Laxmi Ambala recommending entry between Rs 5,070 and Rs 5,100, targeting Rs 5,400 to Rs 6,000, which translates to an upside of 5.88%-18.34% and a stop loss at Rs 4,700.
Despite positive global cues, Indian stocks are under pressure, with crude oil prices remaining a significant concern.4
The market's performance is further complicated by rising inflation, with India's CPI hitting 4.45% year-on-year, the highest in 19 months, driven by food prices.
Analysts suggest immediate support levels for Nifty at 24,370-24,400 and resistance at 24,600.
“The recommendations include specific entry levels and targets, such as buying Bank of Maharashtra at Rs 80 with a target of Rs 86 and a stop loss at Rs 77. Meanwhile, the Sensex was down 226.84 points at 77,739.51, while Nifty declined 99.30 points to 24,336.65, pressured by firm crude oil prices.”
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