Stock market recap: Equity benchmarks staged a smart recovery on Monday, 13 July, with the Sensex closing 47 points higher at 77,616 and the Nifty adding 4 points to settle at 24,211, holding above the crucial 24,200 mark.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
SHYAMMETL (Cmp 1029.25)
- Why it’s recommended: Shyam Metalics and Energy Limited is a leading, debt-free diversified metal conglomerate in India, the company manufactures long steel products, ferro alloys, and aluminium foils, while generating a significant portion of its own power. The formation of a long body candle after a period of consolidation giving a breakout augurs well for the prices in the counter over the next few days. Also, newsflow of some stake sale of Saudi Business has generated some strong buying at lower levels. Go Long.
- Key metrics:
- P/E: 52.11,
- 52-week high: ₹1014.65,
- Volume: 2.12M
- Technical analysis: Support at ₹900, resistance at ₹1225.
- Risk factors: Input cost pressures, regulatory uncertainties, and cyclical demand shifts.
- Buy : above ₹1030.
- Stop loss: ₹970.
- Target price: ₹1125 (2 Months)
MPHASIS (Cmp 2390.40)
- Why it’s recommended: Mphasis Ltd is a global, AI-led information technology and consulting company specializing in cloud computing, cognitive services, and enterprise automation. The steady downward trajectory since February 2026 and the bottoming out of prices in major IT names have now triggered a revival across high-beta candidates over the last few weeks. The strong push to the upside after some support received from the Kumo cloud region is clearly highlighting that the dips are being bought into. The recent participation signifies support from the market for some revival.
- Key metrics:
- P/E Ratio : 32.52,
- 52-week high: ₹3035.15,
- Volume: 682.43K.
- Technical analysis: Support at ₹2130, resistance at ₹2800.
- Risk factors: Heavy reliance on equity and bond market performance, vulnerability to natural catastrophes, and persistent underwriting pressures.
- Buy: above ₹2400
- Stop loss: ₹2310
- Target price: ₹2625 (2 Months)
EMAMILTD (Cmp 427.25)
- Why it’s recommended: Emami Ltd is a leading Indian FMCG conglomerate specializing in personal care and healthcare products. Post its listing, the stock has not been showing much traction; however, the retail consumer space is shifting gears, and we can look at the trends picking up. The Relative Strength Index shows that the prices have moved beyond an important threshold, showing signs of recovery, and have seen a swift upside, indicating some upward trajectory. Look to go long.
- Key metrics:
- P/E Ratio: 22.09,
- 52-week high: ₹634.65,
- Volume: 385.08K.
- Technical analysis: Support at ₹385, resistance at ₹525.
- Risk factors: Raw material inflation, and intense competition. Unpredictable weather directly impacts the sales of its core products.
- Buy : above ₹430
- Stop loss: ₹410
- Target price: ₹475 (2 Months)
Equity benchmarks staged a smart recovery on Monday, July 13, with the Sensex closing 47 points higher at 77,616 and the Nifty adding 4 points to settle at 24,211, holding above the crucial 24,200 mark. The rebound was led by IT stocks, with TCS, Infosys, HCLTech, Tech Mahindra and Wipro among the top gainers. Private banks also lent support, as Kotak Mahindra Bank and ICICI Bank advanced, pushing the Nifty Bank index up 86 points. Select sectors saw strong buying—Voltas and Blue Star extended gains, LTIMindtree rose on upbeat commentary, and life insurers continued their rally.
Stock-specific moves kept traders engaged: Kalyan Jewellers surged nearly 50% in four sessions, while Happiest Minds jumped 6%. Market breadth remained balanced, though Avenue Supermarts, Indian Bank, Bharat Dynamics, and gold financiers slipped. Midcaps ended flat, autos were mixed, and Sensex gainers included TCS, Infosys, Bajaj Auto and Wipro, while Grasim, Tata Steel and Nestle dragged.
Outlook for Trading
The situation for the market was just getting better when the geopolitical conflict between Israel and Iran got worse. With no clarity emerging from the US, the equation is sending ripples across global markets, pushing crude oil prices higher due to concerns over supply disruptions, particularly in the Strait of Hormuz. Rising oil prices are affecting transportation, energy, and food costs, raising inflation risks just as central banks are beginning to ease policy.
The intraday charts shown below also indicate that the recent reaction on Monday did not dent the immediate support at 24000. Going ahead we can note that the resistance zone around 24500 mark would play a part in the market recovery. For the upside to sustain 24300 is crucial. The trendline support from the lower levels around 23800 may come into play.
A look at Bank Nifty indicates that room till 54500 has now opened up as the setup is getting ready to support the bulls attempt to rebound. Bank Nifty is a sector that should be tracked. Once 59000 is breached, there could be more upward momentum extended with some stock-specific action. At the moment, there are divergent views being displayed across all the component stocks. PSU Banks or Private Banks are exhibiting bullishness now thus drawing attention helping the Bank Nifty to recover.
This, in turn, will spill over to the other sectors like Auto, Realty and Finance. Despite markets on Monday showing some prowess of a recovery the inability of Bank Nifty to clear the 55100 mark seems limited in this curtailed week. Till then this index holds the key for some trends to recover.
We are now observing that the Max Pain Point has shifted to 24200 while the PCR has remained below 1 indicating that the lower levels are being threatened once again. However, as one must accept the selling pressure shows up periodically to create some tension. As trends are unable to hold on to the bullish bias seen on Thursday, we continue to witness deterioration in prices thus leading the trends through some challenging times. Time for being alert as trends are firmly etched lower with no signs of recovery.
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.