Stock market recommendations: Sansera Engineering, and Paytm have been picked as the top stocks to buy this week starting August 3, 2026 by Sudeep Shah, Head – Technical Research and Derivatives, SBI Securities. He has also provided a detailed outlook on Nifty and Bank Nifty:
Stock recommendations:
Sansera EngineeringSANSERA has resumed its bullish trajectory after finding strong support near its 20-day EMA over the previous three sessions, followed by a decisive breakout from the 3,300–3,171 consolidation range. The move is supported by improving momentum, with the RSI rising sharply from 51 to 61 over the last four sessions, signalling renewed buying interest. On the weekly timeframe, the rising ADX reflects strengthening trend intensity, reinforcing the positive outlook. Additionally, the shrinking red histogram bars on the daily MACD indicate that bearish momentum is fading, often a precursor to a bullish crossover. The overall technical setup points towards sustained strength in the near term. Hence, we recommend to accumulate the stock in the zone of 3320-3355 with a stoploss of 3220. On the upside, it is likely to test the level of 3590 in the short term.PaytmPaytm has reaffirmed its bullish structure after witnessing a strong rebound from the 50% Fibonacci retracement of its prior up move (1,077–1,407), a level that also coincided with the rising 34-day EMA zone, creating a strong support confluence. The stock continues to trade comfortably above its key short and long-term moving averages, reflecting a healthy uptrend. Momentum indicators have turned increasingly positive, with the RSI rising above the 60 mark, signalling strengthening bullish momentum. Additionally, the widening gap between DI+ and DI- in the ADX indicator highlights growing buyer dominance. The overall technical setup suggests the stock is well-positioned to extend its upward move. Hence, we recommend to accumulate the stock in the zone of 1330-1345 with a stoploss of 1290. On the upside, it is likely to test the level of 1440 in the short term.Nifty ViewThe Nifty has largely remained in a consolidation phase over the past 15 weeks, oscillating within a broad range of 24601 to 23070. This range has narrowed considerably over the last seven weeks, with the index confined between 24530 and 23605, highlighting the ongoing tug-of-war between bulls and bears. However, recent price action suggests that the balance may gradually be tilting in favor of the bulls.In the last six trading sessions, the index has rebounded sharply by more than 760 points, helping it close July with gains of over 2% and near the upper end of its prevailing consolidation zone. The recovery has been largely led by heavyweight stocks, with large caps driving the broader market higher. Interestingly, Nifty has formed candles with shadows on both ends for four consecutive months, reflecting continued indecision among market participants despite the recent strength.From a technical standpoint, the index is currently trading above its 20-day, 50-day, and 100-day EMAs, while hovering around the 200-day EMA. On the weekly chart, most key moving averages remain flat, signalling the absence of a strong directional trend. Momentum indicators and oscillators across both daily and weekly timeframes also continue to indicate a neutral-to-sideways bias, suggesting that the market is approaching an important inflection point.Going forward, the 24550-24600 zone is expected to act as a crucial resistance area as it coincides with previous swing highs. A decisive breakout and sustained move above 24600 could trigger fresh buying momentum and pave the way for an advance towards 24900, with scope for an extension towards 25200 in the near term. On the downside, the 24150-24100 zone is likely to provide strong support, and holding above this region will be critical for maintaining the positive undertone in the market.Bank Nifty ViewBank Nifty remained under pressure during July, underperforming the frontline indices and ending the month in negative territory. The index traded within a relatively narrow range of nearly 2600 points, marking its smallest monthly trading range since January 2026, highlighting the lack of strong directional momentum.The consolidation phase became even more pronounced in the final week of the month, when Bank Nifty moved within a restricted range of just 739 points. This was the narrowest weekly range witnessed since December 2025, reflecting continued indecision and a cautious stance among market participants.From a technical perspective, the prolonged consolidation has led to a flattening of most key moving averages across both daily and weekly timeframes, indicating the absence of a sustained trend. Additionally, momentum indicators and oscillators continue to hover around neutral levels, suggesting that the ongoing range-bound movement could persist until a decisive breakout provides fresh directional cues.Going forward, the 57600-57700 zone is expected to act as a significant resistance area. A sustained move above 57700 may trigger renewed buying interest and pave the way for an advance towards 58500, followed by 59200 in the short term.On the downside, the 56700-56600 region, which coincides with the 100-day EMA, is likely to provide strong support and remain a key level to watch during any corrective phase.(Disclaimer: Recommendations and views on the stock market, or any other asset classes or personal finance management tips given by experts and analysts are their own. These opinions do not represent the views of The Times of India.)
