Stock Market Today: Key Levels for Nifty 50, Global Trends, and Expert Stock Picks

Indian equity markets head into the new week with caution, after the Nifty 50 index closed more than 1% lower at 24,565.35 in the week ended August 1, weighed down by Trump tariff uncertainties. The Bank Nifty also fell over 1%, ending at 55,617.60. Realty and Pharma were the biggest laggards, while FMCG and Industrials managed to outperform.

Mid- and small-cap stocks came under significant pressure, reflecting broader market weakness.

📊 Nifty 50 and Bank Nifty Technical Outlook

For Monday, analysts expect the Nifty 50 to find immediate support in the 24,400–24,350 zone. A sustained break below could accelerate selling pressure. On the upside, the 50-day EMA at 24,900–24,950 now stands as a key resistance, according to Sudeep Shah, VP & Head of Technical and Derivatives Research at SBI Securities.

For the Bank Nifty, Shah noted the 55,200–55,100 range as critical support levels for the near term.

🌍 Global Market Cues and Earnings

Volatility is likely to remain high in the coming week amid central bank policy decisions, corporate Q1 earnings, and evolving developments on U.S. trade tariffs.

Ajit Mishra, SVP, Research at Religare Broking Ltd, cautioned traders to adopt a defensive stance. While dips could offer long-term buying opportunities in fundamentally strong stocks, sectors such as IT and metals remain vulnerable to global trade volatility. Mishra emphasized the need for disciplined risk management and prudent position sizing in current conditions.

📈 Expert Stock Picks for Monday

Market experts — Sumeet Bagadia (Choice Broking), Ganesh Dongre (Anand Rathi), and Shiju Koothupalakkal (Prabhudas Lilladher) — recommended these eight intraday stocks for August 4:

🔹 Sumeet Bagadia’s Picks

1. CCL Products (India) Ltd — Buy at ₹894; Target ₹957; Stop-loss ₹862

Strong bullish pattern; breakout above ₹915 could confirm uptrend.

2. Trent Ltd — Buy at ₹5,180; Target ₹5,550; Stop-loss ₹5,000

Breakout above key resistance of ₹5,100 with high volumes.

🔹 Ganesh Dongre’s Picks

3. Biocon Ltd — Buy at ₹383; Target ₹405; Stop-loss ₹370

Reversal from strong support at ₹370 suggests bullish momentum.

4. Marico Ltd — Buy at ₹711; Target ₹725; Stop-loss ₹700

Consistent bullish pattern; support at ₹700 holding firm.

5. CDSL — Buy at ₹1,478; Target ₹1,540; Stop-loss ₹1,450

Rebound from support zone; strong technical setup.

🔹 Shiju Koothupalakkal’s Picks

6. TVS Motor Company Ltd — Buy at ₹2,858; Target ₹2,970; Stop-loss ₹2,500

Support from 50 EMA; RSI signals positive trend reversal.

7. Genus Power Infrastructures Ltd — Buy at ₹363.85; Target ₹382; Stop-loss ₹355

Pullback from 200 MA with bullish candle formation.

8. Waaree Energies Ltd — Buy at ₹3,104; Target ₹3,250; Stop-loss ₹3,045

Support at 50 EMA; RSI indicates strong upside potential.

📌 Key Takeaway

With global trade tensions and earnings season volatility in play, investors are advised to remain cautious. Selective accumulation on dips may provide opportunities, but risk management will be crucial for traders this week.