Analysts highlight technical setups in three stocks, citing breakout, volume surge and other bullish indicators.
As we head into a fresh month, three SEBI-registered analysts have shared their outlook on their top technical picks for August.
While Sai Life and Coromandel are seeing strong institutional buying and breakout momentum, Mazagon Dock faces resistance and profit booking, prompting a more selective approach.
Let’s take a look at their recommendations for August:
Sai Life Sciences
SEBI-registered analyst Finlight Research noted that the stock is continuing a bullish trend, breaking out of a major consolidation range. It is trading well above key resistance-turned-support (₹800) and has hit fresh record highs recently, fueled by strong buying momentum.
This rally is supported by strong volumes, confirming the buying interest of institutions. Additionally, Sai Life stock trades above all major moving averages and its Relative Strength Index (RSI) is neither overbought or oversold, suggesting strength.
They recommend buying on dips toward moving averages or retesting the support level (near ₹800), for targets of ₹875, ₹900, ₹950 and above with a stop loss of ₹775 on a weekly closing basis.
Sai Life shares have risen 7% year-to-date (YTD).
Coromandel
Analyst Bharat Sharma of Stockace Financial Services has identified a swing cum positional breakout opportunity in Coromandel. He noted that the stock prices have surpassed the previous peaks’ resistance, accompanied by increased volume & large green candle, indicating upside momentum.
He recommends buying it between the ₹2,550-₹2,610 range to ride on further gains for a target price of ₹2,800, ₹3,000, and higher with a stop loss at ₹2,450-₹2,400 on a closing basis for a timeframe of 30 to 60 days.
Coromandel shares have risen 35% year-to-date (YTD).
Mazagon Dock
And analyst Harika Enjamuri identified Mazagon Dock as the stock to watch in August. While it has demonstrated consistent performance within the defence and shipbuilding sectors, supported by a robust order book, healthy cash flows, and a near-monopolistic market position, recent quarterly trends indicate a moderation in operating momentum that warrants a more selective and tactical investment approach.
She noted that the stock traded at 50x P/E, 13.8x P/B, and EV/EBITDA over 30x, which suggests a limited valuation comfort based on current earnings trajectory. Additionally, the stock is in a corrective phase, having breached the 9-day and 100-day moving averages (₹2,874 and ₹2,977), indicating short-term weakness.
Enjamuri sees support at ₹2,650 and adds that a breakdown could extend downside to ₹2,444. On the weekly chart, the long-term uptrend remains intact, though profit booking from the ₹3,370 peak continues. A sustained close above ₹2,975 would be required to re-establish bullish momentum.
She recommends entering at ₹2,580–₹2,650 with a target of ₹3,250 (indicating 25–28% upside) for a stop loss at ₹2,380. Suggested time frame for this strategy is four to eight weeks (swing to medium-term).
Mazagon shares have risen 24% year-to-date (YTD).
Stocktwits’ Yash Upadhyay breaks down these stocks to watch in August! Watch <here< to discover analysis and views from SEBI-registered advisors. <
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