Now Reading: Nifty faces 24750 hurdle; analysts pick AIA, Cochin Shipyard
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Nifty faces 24750 hurdle; analysts pick AIA, Cochin Shipyard
Aakash Hindocha of Nuvama has recommended buying Indian Bank, DLF, and Polycab India on August 13, with targets of Rs 985, Rs 735, and Rs 10,030 respectively. A separate set of picks…
The Story in Brief
Aakash Hindocha of Nuvama has recommended buying Indian Bank, DLF, and Polycab India on August 13, with targets of Rs 985, Rs 735, and Rs 10,030 respectively. A separate set of picks from Sudeep Shah of SBI Securities suggests accumulating AIA Engineering (target Rs 5,125) and Cochin Shipyard (target Rs 1,630) for the week starting August 10. Both analysts see the Nifty facing resistance near 24,700-24,750, while Bank Nifty is holding above its 200-day moving average with support at 57,150. The market remains in a narrow range with low momentum indicators.
The Indian Opinion
Every analyst sees a breakout just around the corner, but the Nifty has been marking time for weeks, the doji candle and narrowest weekly range since December 2025 tell a different story. The real test is not the target price but whether the index can trade above 24,750 with conviction. Until then, these bullish calls on stocks like AIA Engineering and Indian Bank are bets on momentum that may not have room to run. Watch the 200-day EMA near 24,400: a close below it will puncture the optimism.
Sources (2): timesofindia.indiatimes.com, timesofindia.indiatimes.com (2)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
