Market Outlook: Technical Call Of The Day & Top 5 Stocks In Focus For 8th Aug 2025

Nifty index opened on a negative note around the 24460 mark, with bears dominating the trend through the first half of the session, dragging the index down to the 24350 zone. Sustained selling pressure was evident as bears remained in control for most of the day. However, in a dramatic turnaround during the last hour, bulls staged a strong comeback, lifting the index by over 250 points from the day’s low.

This sharp intraday rebound brought much-needed relief and helped the index close well off its lows. On the daily chart, Nifty formed a bullish candle with a long lower shadow, reflecting buying interest at lower levels. Follow-through buying in the next session will be crucial to confirm this reversal attempt. Now if it manages to cross and hold above 24600 zones strength can be seen towards 24750 and 24900 zones, else weakness can be seen towards 24442 and 24350 zones.

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On option front, Maximum Call OI is at 24700 then 25000 strike while Maximum Put OI is at 24600 then 24500 strike. Call writing is seen at 24600 then 24700 strike while Put writing is seen at 24600 then 24500 strike. Option data suggests a broader trading range in between 24200 to 25200 zones while an immediate range between 24400 to 24900 levels.

S&P BSE Sensex opened on a negative note and came under sustained selling pressure during the first half of the session breaching the crucial 80000 support level and marking an intraday low near 79800 zones.

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However, in a surprising reversal, the index recovered sharply clawing back over 800 points in the second half of the session and ended with a modest gain of around 80 points. It managed to reclaim and close above the 80500 mark. On the daily chart the Sensex formed a bullish candle with a long lower shadow reflecting buying interest at lower levels. Now if it manages to cross and hold above 80800 zones strength can be seen towards 81000 and 81300 zones, else weakness can be seen towards 80300 and 80000 zones.

Bank Nifty index opened on a negative note and remained under selling pressure as it corrected towards 54973 marks in the first half of the session. However sharp recovery was seen from lower levels in the last hour of the session as rate sensitive Index extended the momentum towards 55600 zones. It formed a bullish candle on daily scale with long lower shadow as good recovery was seen from lower levels and it took support near its 100DEMA. Now it has to hold above 55555 zones for a bounce towards 55750 then 56000 levels while a hold below the same could see some weakness towards 55250 then 55000 zones.

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Nifty future closed positive with gains of 0.33% at 24715 levels. Positive setup seen in Asian Paints, Hero MotoCorp, Delhivery, JSW Steel, MCX, TVS Motor, Indian Bank, Dalmia Bharat, Jindal Steel, and Lupin while weakness in BHEL, PG Electroplast, PNB Housing, KFIN Tech, SRF, PFC, Indus Tower, PI Industries, Tata Motors and Solar Industries.

GENESYS - TECHNICAL CALL OF THE DAY

Genesys is currently trading near a strong support level around Rs 570, which has held well in the past. The RSI is hovering near the oversold zone (around 34), suggesting the stock is approaching a potential reversal area. Price action today shows a bounce from support with positive momentum (+1.75%) hints at a possible near-term recovery.

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BUY GENESYS CMP 570.20 SL 535.95 TGT 603.00

Top 6 stocks to watch out for 8th Aug

Quality Power:

• The company reported its highest-ever quarterly revenue of Rs 194.1 crore, up 143.6% YoY and 49.4% QoQ, along with record EBITDA of Rs 31.0 crore, up 31.6% YoY and 90.4% QoQ. It has a robust order backlog of over Rs 775.0 crore from Quality Power Equipments, Endoks, and Mehru. 

• Expansion projects at Bhiwadi, Cochin, and Sangli units are progressing well, with key completions expected by FY26–FY27. Special cable manufacturing with full backward integration is planned by Q3FY26. Mehru is also set to boost capacity by ~45% through plant upgrades and is exploring greenfield or acquisition opportunities.

Cummins India:

• Cummins India delivered a strong Q1FY26 performance, with net profit rising 40.3% YoY to Rs 589 crore, beating consensus estimates. Revenue grew 26.2% YoY to Rs 2,906 crore, supported by robust demand and efficient execution. EBITDA rose 33.4% YoY to Rs 623.9 crore, with operating margin expanding to 21.4%. Domestic sales grew 25% and exports 34%, reflecting broad-based strength. The company attributed record profitability to volume leverage and operational efficiencies.

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IOL Chemicals:

• IOL Chemicals & Pharmaceuticals Ltd delivered a robust Q1FY26, with revenue rising 9.8% YoY to Rs 551.7 crore, EBITDA up 19.5% to Rs 69.5 crore, and PAT increasing 14.4% to Rs 34 crore. The company secured REACH registration for Acetic Anhydride, boosting export potential to EU markets. It also initiated a Rs 5.5 crore project for Minoxidil manufacturing, targeted for completion by Dec 2025. Most non-Ibuprofen APIs are operating at 65–70%+ utilization, with some exceeding 90%, reflecting strong demand and operational efficiency.

Oil India:

• Oil India Limited and IREL (India) Limited have signed a Memorandum of Understanding (MoU) on August 7, 2025 in Mumbai to cooperate and collaborate for development of Critical Minerals. OIL and IREL's partnership marks a crucial milestone in India's pursuit of self-reliance in critical minerals and rare earth elements. As part of identified PSUs under the National Critical Mineral Mission of Govt. of India, this collaboration will play a vital role in securing strategic mineral resources essential for the nation's energy security and technological advancement.