Market Outlook: Technical Call Of The Day & Top 5 Stocks In Focus For 29th Aug 2025

The Nifty 50 saw intensified selling pressure on August 28, coinciding with the monthly F&O expiry, as it slipped decisively below the 100-day EMA at 24,632, signaling bears’ dominance over bulls. Sentiment weakened further following the announcement of fresh US tariffs on Indian goods, which added to the market’s cautious mood. 

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Technical signals also turned negative, with the RSI declining to 40.79 and the MACD nearing a bearish crossover, while the histogram showed fading momentum. Given the prevailing bearish bias, immediate downside targets are pegged at 24,400, which is aligned with the rising trendline support, followed by the August bottom of 24,340 and the 200-day EMA at 24,270. A breach of these levels could accelerate selling pressure. Conversely, any upside attempt is expected to face resistance near 24,600–24,700, around the 100-day EMA and the recent swing high.

The index initially attempted to recover previous day’s losses in the early trade but failed to hold gains, remaining under persistent pressure. It ended the day at 24,501, down 211 points or 0.85 percent, forming a bearish candle with higher-than-average volumes, hinting at a continuation of weakness. The important support zone of 24,670, which represented an earlier upward gap from August 18, was also breached. 

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In addition, the ascending trendline connecting lows from April to August 25 broke down, which further reinforces the negative undertone. Analysts caution that this breakdown signals a continuation of weakness in the near term, with the next meaningful support levels seen at 24,300–24,250, coinciding with prior swing lows and the 200-day EMA. Any short-lived rebound could encounter stiff supply pressure around the 24,700 zone.

Options positioning also reflects caution, with the 24,000 strike emerging as a strong support base, followed by 24,500 and 24,200 strikes where maximum Put OI is concentrated. On the Call side, the 25,000 strike holds the highest open interest, followed by 24,800 and 25,100, indicating a ceiling for any sharp upside move. Notably, the heaviest Call writing was at the 25,000 strike, while maximum Put writing was recorded at 24,000, highlighting traders’ bearish-to-rangebound positioning.

Bank Nifty once again underperformed the headline index, sliding 630 points or 1.16 percent to settle at 53,820, forming a bearish candle with sustained lower highs and lower lows, along with above-average turnover. The index has now shed more than 2,300 points from its recent high of 56,156 within eight sessions, underscoring strong supply pressure in financials. 

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The critical support lies near the 200-day EMA at 53,570, and a breakdown below this could deepen the correction toward 52,900 and 52,400 in the short term. On the upside, the 54,500–54,600 region will serve as a key hurdle, and only a decisive move above this band would hint at a recovery.

Meanwhile, the India VIX, a barometer of near-term volatility, traded firm above short-term averages, even crossing 13 intraday before cooling to 12.18, still indicating a slightly elevated risk environment. Sectorally, barring consumer durables, all other major indices closed in the red, with banking, IT, FMCG, telecom, and realty shedding close to 1% each, highlighting broad-based weakness across the market spectrum.

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RELIGARE - TECHNICAL CALL OF THE DAY

Religare is trading near Rs 237, testing a strong horizontal support zone around Rs 225–230 as indicated by the blue line. The recent decline has brought the RSI down to 37, approaching the historical bounce region of 33–34, where the stock has previously reversed upward. Volumes have stayed moderate during the fall, indicating a lack of aggressive selling pressure. If the support around Rs 225 holds, a rebound could be expected, with potential upside targets at Rs 250–260 in the near term. 

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BUY RELIGARE CMP 237.00 SL 225.00 TGT 251.00

Top 5 stocks to watch out for 29th Aug

CG Power:

• CG Semi Pvt Ltd (“CG Semi”), a subsidiary of CG Power and part of the Murugappa Group, has announced the launch of its first Outsourced Semiconductor Assembly and Test (OSAT) facility in Sanand, Gujarat. With this launch, CG Semi became one of India’s first full-service OSAT providers, offering solutions across both traditional and advanced packaging technologies. This marks a major step in strengthening India’s semiconductor capabilities and supporting the country’s goal of becoming self-reliant while also serving global markets.

• Backed by central and state government support, and in collaboration with Renesas and Stars Microelectronics, CG Semi is investing over Rs 7,600 crore over five years to develop two state-of-the-art facilities (G1 and G2) in Sanand, Gujarat. 

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Allcargo Logistics:

• The company has released its business updates for the month of July 2025. The details are; LCL (Less-than-Container Load) volumes reached 774 cubic meters in July, up 10% from June but down 5% compared to July 2024. Container utilization also declined on a YoY basis. FCL (Full Container Load) volumes rose to 59,443 TEUs, marking a 9% increase MoM and YoY, with gains across regions like USA, Latin America, AsiaPacific, Middle East, and India, though Europe saw a decline. Air freight volumes surged to 3,690 tonnes, up 28% vs June and 46% compared to July last year, with broad-based regional growth barring North America and India.

AGI Infra:

• The company has informed exchanges that it is going to acquire 60% stake by investing Rs 30 crore in M/s. WorldNext Realty LLP, LLPIN: AAX-0360. M/s. WorldNext Realty LLP belongs to construction and real estate development. The objective of the acquisition of the LLP is to expand the business of the Company. 

• The LLP was incorporated on 15th May 2021 having its registered office at Block D Hambran Road New Kitchlu Nagar, Ludhiana, Punjab, India, 141001 and currently in the business of Construction of Group Housing Project, houses, banglow etc after acquiring the land and to carry on the related activities.

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Muthoot Finance:

• Following 13th August 2025, communication announcing the Board’s intent to make an additional equity injection into Muthoot Money Ltd; Muthoot Finance has informed exchanges that the Board of Muthoot Money Limited has today finalized the allotment of 325,139 equity shares to Muthoot Finance Ltd. Additional equity infusion is made in order to strengthen the capital base and improve the capital adequacy ratio. Funds raised through the rights issue will be utilized for funding the business, general corporate purposes and for repayment of existing loans. 

Aayush Wellness:

• The company has formed two wholly owned subsidiaries in the name and style as “Aayush Labs Pvt Ltd” and “Aayush Ventures Pvt Ltd” catering to Diagnostic and medical activities. The proposed wholly owned subsidiaries will play a pivotal role in driving the holding company's business expansion. The object clause provides a board framework for the wholly owned subsidiaries to engage in various diagnostics aggregators and related activities, while allowing for flexibility to explore new opportunities and initiatives.