Stock market recommendations: According to Bajaj Broking Research, Godawari Power and Ispat Limited (GPIL), and Apollo Micro Systems are the top stock picks for today. Here’s its view on Nifty, Bank Nifty and the top stock picks for August 29, 2025:Index View: NIFTYBenchmark Indices witnessed sharp decline during last week, with Nifty closing the August month expiry around 24,500 levels. Investors are closely tracking the government’s fiscal and policy interventions, with emphasis on potential GST rationalization and sectoral stimulus packages aimed at alleviating tariff-induced headwinds and reinforcing the broader growth trajectory. US has enforced a steep 50% tariff on Indian imports from August 27, 2025, India stands at a pivotal juncture, testing both its economic resilience and diplomatic agility.Going ahead to pause the current down move index needs to close above previous sessions high, failing to do so will keep the bias down. Nifty has an immediate support base placed at 24,400-24,350 levels being the confluence of the recent lows and the key retracement area. Index holding above the same will lead to a consolidation in the range of 24,400-24,900. While failure to do so will signal acceleration of decline towards 24,000-23,800 levels being the confluence of the 52 weeks EMA and the previous major lows and the previous major breakout area. On the higher side resistance is seen around 24,900 levels. Only a move above the same will signal a pause in the downtrend. While a move above 24,900 will extend pullback towards the major resistance area of 25150-25,250 levels being the confluence of the 61.8% retracement of the entire decline and the previous swing high. We expect volatility to pick up tracking tariff development and GDP numbers. Hence, focus should be on accumulating quality stocks backed by strong earnings, especially those poised to benefit from next-generation GST reforms and upcoming festive season.NIFTY BANKBank Nifty formed a sizable bear candle with a lower high and lower low signaling continuation of the corrective decline as the index closed below the 100 days EMA. Index in the process closed below the last 3 weeks range (54,900-56,100) highlighting extension of the decline.Going ahead, failure to move above 55,000 will keep the bias down and will open downside towards 53,500- 53,000 levels in the coming sessions.Key support is placed at 53,000 levels being the confluence of the 200 days EMA and the low of May 2025.Stock Recommendations:Godawari Power and Ispat Limited (GPIL)Buy in the range of Rs 228.00-233.00
The stock has recently generated a breakout above the consolidation range (210-165) with strong volume signaling resumption of up move and higher participation at the breakout area thus offering fresh entry opportunity.We expect the stock to extend up move and head towards 257 levels in the coming months being the measuring implication of the range breakout.The weekly stochastic remains in a strong up trend forming higher high and higher low thus supports the positive bias in the stock.Apollo Micro SystemsBuy in the range of Rs 238-243
The stock has recently generated a breakout above the bullish rounding formation signaling continuation of the up trend and offers fresh entry opportunity.The stock has outperformed the overall market and is likely to extend its current outperformance.We expect the stock to head towards 270 levels in the coming months being the measuring implication of the rounding formation. Weekly MACD remains in a strong up trend thus supports the positive bias.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
