Intraday Stocks To Buy Today, Aug 4: Top Picks By Sumeet Bagadia For Profitable Trading On Monday

The Nifty 50 fell 271 points, or 1.09%, to settle barely above the key psychological mark of 24,500, as the Indian benchmark indices continued their losing run for the fifth week in a row. Additionally, the BSE Sensex ended the previous week down, dropping 863 points to close at 80,599. The main cause of the broader market sell-off was the rise in global trade tensions following U.S. President Donald Trump's announcement of undefined trade sanctions on trade ties with Russia and a 25% tariff on Indian goods.

As U.S. President Trump's imposition of a 25% tariff on Indian exports affects optimism across export-linked industries, including textiles, chemicals, auto components, and pharmaceuticals, the Indian stock market is likely to continue to be under pressure this week. While Q1 corporate earnings are moving forward, the Indian market will respond to the RBI's anticipated decision to keep interest rates steady at its early August policy review.

Nifty Outlook Today

"Nifty formed a dark cloud cover candle (bearish), signaling one-sided selling pressure throughout the intraday session. The RSI has dropped further to 36, nearing the oversold zone, while the MACD histogram continues to expand negatively, confirming a deteriorating momentum setup. On the hourly chart, the index failed to hold above the 24,700 level and breached the swing support around 24,598. It is now hovering near the key horizontal zone of 24,470-24,378. With both daily and intraday momentum indicators weakening, any recovery attempt may face stiff resistance at 24,750, followed by 24,880. Unless Nifty reclaims these levels with a strong close, the near-term outlook remains under pressure," commented Om Mehra, Technical Research Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"Nifty Bank ended the session at 55,617.60, down 0.62%, as the index extended its decline below key short-term moving averages and moved closer to its critical horizontal support zone. This marked the third straight session of weakness. The index has formed another red candle on the daily chart, reflecting continued pressure near the 56,000 mark-a level that earlier acted as a cushion. Both the 20-day and 50-day SMAs remain breached, confirming the short-term downtrend. The RSI has declined further to 39, maintaining a consistent downward slope in the near term," commented Om Mehra.

"The next support lies at 55,150-55,000, a zone that held well during the mid-June consolidation phase. A decisive break down below this zone may invite further decline. The immediate resistance has shifted to 56,000, followed by 56,200. A close above these levels will be essential to neutralize the ongoing weakness. The intraday sessions may become more volatile in the coming days," Om Mehra further added.

Stocks To Buy Today

On Monday, August 4, Choice Broking's executive director Sumeet Bagadia suggested buying two stocks after Nifty index extended its downward trajectory, kicking off August on a weak footing and registering its fifth consecutive weekly loss.

Fortis Healthcare

Buy FORTIS in Cash @ Rs 859.25, Stop-loss @ Rs 829, Target @ Rs 920

FORTIS is currently trading at 859.25, displaying a clear uptrend in its daily chart, with sustained higher highs and higher lows since April 2025. The stock recently broke out of its consolidation zone and has formed a new all-time high at 867.35, indicating strong bullish momentum. The stock recently made a bullish engulfing pattern, which acted as a key reversal signal, leading to a continuation of the upward move.

This bullish structure is supported by rising volumes, confirming the strength behind the price action. The overall trend remains firmly positive, with the 20, 50, 100, and 200-day Exponential Moving Averages all trending upward-underscoring sustained demand and strengthening bullish sentiment across short- to long-term timeframes.

Price action consistently holding above these key moving averages further reinforces the strength of the ongoing uptrend. A confirmed close above 868 may act as a breakout trigger, paving the way for a sharp move toward the next short-term target of 920. Traders are advised to closely monitor the stock's behaviour near the resistance area for any breakout confirmation and subsequent follow-through.

On the downside, immediate support is seen at 840. The Relative Strength Index (RSI) is currently at 70.45 and rising, indicating strong buying momentum and potential overbought conditions. To mitigate risk, a protective stop-loss around 829 is recommended in case of any unforeseen market reversals.

In conclusion, based on current technical conditions, FORTIS offers a strong buying opportunity for short-term traders targeting 920, provided sound risk management measures are maintained.

TVS Motor Company

Buy TVSMOTOR in Cash@ Rs 2858, Stop-loss@ Rs 2757, Target@ Rs 3058

TVSMOTOR is currently trading at 2858 and has recently given a breakout from a descending triangle pattern, indicating a potential shift in momentum from consolidation to bullishness. The stock had been forming lower highs while holding a steady support zone, and the recent surge above the upper trend line confirms the breakout.

This price movement is accompanied by a notable increase in volume, adding credibility to the breakout. The stock is also positioned near or above its key exponential moving averages, which are gradually beginning to align with the upward move, further supporting a shift in short-term sentiment.

A confirmed close above 2900 may act as a breakout trigger, paving the way for a sharp move toward the next short-term target of 3058. Traders are advised to closely monitor the stock's behaviour near the resistance area for any breakout confirmation and subsequent follow-through.

On the downside, immediate support is seen at 2800. The Relative Strength Index (RSI) is currently at 55.77 and rising, indicating strong buying momentum and potential overbought conditions. To mitigate risk, a protective stop-loss around 2757 is recommended in case of any unforeseen market reversals.

In conclusion, based on current technical conditions, TVSMOTOR offers a strong buying opportunity for short-term traders targeting 3058, provided sound risk management measures are maintained.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor GoodReturns. The author, nor the brokerage firm nor GoodReturns would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.