Sudeep Shah of SBI Securities selected Sansera Engineering and Paytm as his leading stock recommendations for the week beginning August 3. He also mapped major Nifty and Bank Nifty levels.
Sansera Engineering regained upward momentum after finding firm support near its 20-day exponential moving average during the previous three sessions. The stock then moved above its Rs. 3,171 to Rs. 3,300 consolidation range. This breakout suggested stronger buyer control after a period of restricted trading.
Sansera’s relative strength index climbed from 51 to 61 within four sessions. At the same time, its weekly average directional index moved higher. The daily MACD histogram also showed smaller negative bars. As a result, bearish pressure weakened and brought the indicator closer to a possible positive crossover.
Shah recommended accumulation between Rs. 3,320 and Rs. 3,355. He placed the stop-loss at Rs. 3,220 and set a short-term target of Rs. 3,590.
Paytm maintained its bullish structure after rebounding from the 50% Fibonacci retracement of its rise from Rs. 1,077 to Rs. 1,407. This retracement level matched the rising 34-day exponential moving average. Together, both indicators created a notable support area for the stock.
Paytm stayed above its main short-term and long-term moving averages. Its RSI also crossed 60, while directional indicators showed growing buyer dominance. Therefore, the technical setup supported the prospect of another upward move. Shah recommended accumulation between Rs. 1,330 and Rs. 1,345. He set the stop-loss at Rs. 1,290 and the short-term target at Rs. 1,440.
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The Nifty traded between 23,070 and 24,601 for about 15 weeks. During the last seven weeks, that range narrowed to 23,605–24,530. Still, the index gained more than 760 points across six sessions. It finished July over 2% higher and approached the upper end of its range.
Large-cap stocks drove much of the recovery. However, monthly candles still showed uncertainty, while flat weekly averages and neutral indicators pointed to an unclear long-term trend. Shah placed Nifty resistance at 24,550–24,600. A sustained breakout could open a move toward 24,900 and later 25,200.
Support remained at 24,100–24,150. Could the index hold that floor while building enough strength to clear its long-running resistance? Bank Nifty underperformed broader indices in July. Its monthly range narrowed to about 2,600 points, while the final week covered only 739 points.
Shah marked resistance at 57,600–57,700. A breakout above 57,700 could support a rise toward 58,500 and then 59,200. The 56,600–56,700 area formed the key support zone and aligned with the 100-day EMA. The recommendations reflect Shah’s analysis, not personalised investment advice.
Sansera Engineering and Paytm lead Shah’s weekly stock recommendations. Improving momentum and defined risk levels support both selections. Meanwhile, Nifty and Bank Nifty remain near major resistance zones, making support levels and confirmed breakouts central to the market’s direction ahead.