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Equity benchmarks extended their upward momentum on Monday, with the Sensex and Nifty gaining almost 1% on the back of sustained buying in auto and consumer durables.

The Nifty 50 settled 245 points higher at 24,876.95, after briefly surpassing 25,000 with an intraday gain of 1.58%.

Investor sentiment was bolstered by expectations of a ‘big bang’ GST reform package by Diwali and an S&P sovereign rating upgrade. Together, these factors improved visibility on India’s growth and policy trajectory.

Here are the best stock picks for Tuesday, 19 August, recommended by some of India’s leading market experts.

KIRLOSENG: Buy CMP and dips to ₹915 | Stop: ₹898 | Target: ₹1,040-1,085

NESCO: Buy CMP and dips to ₹1,398 | Stop: ₹1,370 | Target: ₹1,550-1,585

KPIL: Buy at CMP and dips to ₹1,240 | Stop: ₹1,215 | Target: ₹1,365-1,410

Why it’s recommended: Ashok Leyland is showing strong bullish momentum, with the daily RSI at 67, MACD in positive territory, and ADX at 27, all indicating a robust trend. The stock has recently broken above resistance near ₹127, suggesting momentum continuation.

Key metrics: Pattern: Breakout above recent resistance at ₹127

MACD: Positive, confirming buy momentum

RSI: 67, in bullish zone

ADX: 27, signalling a strong trend

Technical analysis: The breakout structure, bolstered by strong momentum, points to further upside toward ₹139.

Risk factors: Demand fluctuations in the commercial vehicle cycle, competition from peers, and higher debt levels that could weigh on free cash flow.

Buy at: ₹131.75

Target price: ₹139

Stop loss: ₹128

Why it’s recommended: Maruti Suzuki is in bullish territory with a daily RSI of 81, MACD at 180, and ADX averaging 12, highlighting momentum accumulation. The stock recently closed at a new lifetime high, indicating strong upward continuation.

Key metrics: Pattern: New lifetime high breakout

MACD: Strongly positive at 180

RSI: 81, showing overbought but sustained strength

ADX: 12, signalling early trend formation

Technical analysis: The crossover alongside market momentum supports potential upside to ₹14,575.

Risk factors: Exposure to supply chain disruptions (especially EV components), rising competition in the SUV space, and potential margin pressure due to raw material costs.

Buy at: ₹14,068

Target price: ₹14,575

Stop loss: ₹13,815

Why it’s recommended: Eicher Motors exhibits strong bullish momentum characterized by a daily RSI of 73, MACD at 62, and ADX at 16, signalling an emerging trend. The stock has also recently reached a new lifetime high, reinforcing the bullish setup.

Key metrics: Pattern: New lifetime high breakout

MACD: Positive at 62

RSI: 73, indicating strong momentum

ADX: 16, early-stage trend initiation

Technical analysis: Sustained momentum and breakout signal suggest further upside potential.

Risk factors: High valuations, rising input costs, and execution risks in scaling up international operations.

Buy at: ₹5,915

Target price: ₹6,200

Stop loss: ₹5,780

MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O'Neil India Pvt. Ltd. (Sebi Registered Research Analyst Registration No.: INH000015543)

Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.

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