Top stock market recommendations: Ambuja Cements, Asahi India Glass, and Pfizer – these stocks have been identified as the top buy calls for August 6, 2026 by Aakash K Hindocha, Vice President – Research, Nuvama Professional Clients Group/Nuvama Wealth Management. The expert has also shared outlook on Nifty50 and Bank Nifty:
Stock recommendations
Ambuja Cements (BUY):
- LCP: 445
- Stop Loss: 427
- Target: 478
Stock has seen a decisive breakout from a five-month symmetrical triangle formation, indicating a resumption of the primary uptrend after an extended phase of consolidation. The stock has consistently formed higher lows throughout the pattern, reflecting sustained buying interest and accumulation at lower levels.The breakout strengthens the bullish structure and suggests potential for further upside. The stock is now expected to head towards its 200-Day Moving Average (DMA) resistance, placed around the ₹480 zone, which also emerges as the immediate technical target.Asahi India Glass (BUY):
- LCP: 926
- Stop Loss: 892
- Target: 990
Stock has witnessed a decisive breakout above an eight-month declining trendline on the weekly charts, signalling a potential reversal of the intermediate-term trend. Adding further strength to the technical setup, the stock has reclaimed and closed above its 200-Day Moving Average (DMA) on the daily timeframe, indicating an improvement in long-term price momentum.The stock has also registered its highest closing in the last five months, reflecting sustained buying interest and confirming the breakout which allows for a further 6-8% up move in the short term.Pfizer (BUY):
- LCP: 4908
- Stop Loss: 4700
- Target: 5280
Pfizer has witnessed a decisive breakout above a 12-month downward sloping trendline on the weekly charts, signalling the end of its prolonged corrective phase. Adding to this, stock has reclaimed its 200 DMA on the daily timeframe while simultaneously completing a 6 month base formation, indicating sustained accumulation at lower levels.Bullish developments across multiple timeframes confirms the completion of a medium-term bottoming pattern for a target of around Rs 5300 in the short term.
Index View: Nifty
Nifty ended marginally in green yesterday despite a negative trend all through the session as it recovered in adjustment trade as per CAS. The index did face a profit taking bout and filled the gap between Friday and Monday opening in the past 2 trading days. However, this range could likely hold on to once again unless a clear steer is visible to break above the current 200 DMA at 24775.Overall, broader trend does suggest a move towards 25500 eventually however short-term nuances are likely to keep traders on tenterhook. We continue with our view that the current short covering rally has been and is continuing to be fuelled by a cooldown in oil prices and US10Y yields and an important mark to be seen on US10Y is closing below 4.60% this week.Bank NiftyBank Nifty as well showed similar price action to that of Nifty with a quick gap filling bout was seen on the same after negating majority of its intraday losses in the CAS adjustment window. The index recovered sub its 200 DMA support for the past 3 trading days trimming losses in the CAS session. Charts are open for 58500 / 58850 on the upside with support remaining at the 200 DMA.(Disclaimer: Recommendations and views on the stock market, or any other asset classes or personal finance management tips given by experts and analysts are their own. These opinions do not represent the views of The Times of India.)
