Market Outlook: Technical Call Of The Day & Top 5 Stocks In Focus For 7th Aug 2025

The equity markets remained under pressure as bears retained control following the Reserve Bank of India’s hawkish pause during its policy meeting on August 6. The Nifty 50 closed at 24,574, down 75 points, after failing to hold the 100-day EMA and edging close to the previous week’s low of 24,535. A bearish candle was formed on the daily chart, reflecting rangebound but weak price action near the critical support zone of 24,500. 

The index continues to follow a lower highs–lower lows structure, suggesting a continuation of the downtrend. Adding to the bearish sentiment, the 20-day EMA is on the verge of slipping below the 50-day EMA, and the RSI remains below the 40 level with a negative crossover. If the Nifty breaks and sustains below the June low of 24,473, a sharp decline toward 24,200, which coincides with the 200-day EMA, is likely. On the upside, any recovery would face resistance in the 24,750–24,800 zone.

Options data further supports the bearish outlook in the short term. On the Call side, significant writing was observed at the 25,000, 24,700, and 24,600 strike prices, suggesting these will act as firm resistance levels. On the Put side, the highest open interest was seen at the 24,000 strike, followed by 24,600 and 24,500 strikes, with notable writing at 24,550. Based on the positioning, the Nifty is expected to trade within a narrow range of 24,400–24,700 in the near term.

Meanwhile, the Bank Nifty showed relative resilience by defending its previous day’s low and closing 51 points higher at 55,411. The index traded within the prior day’s range and formed a small-bodied green candle with upper and lower shadows, indicating indecisiveness. 

However, it remains technically weak as it continues to trade below its 20-day and 50-day EMAs, both of which are declining. The RSI is also in bearish territory and trending downward, indicating weakening momentum. Going forward, the immediate support lies around the 100-day EMA zone of 55,000–54,900. A sustained move below this level could lead to a further fall toward 54,400, while resistance is seen in the 55,800–55,900 range.

Volatility also showed signs of returning, with India VIX reversing an earlier dip to close 2.11% higher at 11.96, staying above short-term moving averages—a warning sign for bullish traders. 

Sector-wise, the market breadth was weak, with all major indices ending in the red except for PSU Banks, which gained 0.6%. Sectors such as Information Technology, Media, Realty, Pharma, and FMCG declined between 1–2%, further weighing on sentiment. 

Overall, the broader trend remains weak, and a decisive breakdown below 24,500 on the Nifty could open the door for deeper corrections in the near term.

HEMIPROP - TECHNICAL CALL OF THE DAY

Hemisphere Properties has shown a strong bounce from a key support zone near Rs 122, confirming buying interest at lower levels. The stock surged over 6% with strong volume, indicating bullish momentum. RSI has rebounded sharply from oversold territory, suggesting a potential trend reversal. A buy can be considered with a stop loss below ₹122 and near-term targets around Rs 140–Rs 145.

BUY HEMIPROP CMP 132.41 SL 122.00 TGT 145.00

Top stocks to watch out for 7th Aug

Protean eGov:

• Protean eGov Technologies reported Q1FY26 revenue of Rs 211 crore, up from Rs 197 crore YoY, with EBITDA rising to Rs 45 crore (18.8% margin) and PAT at Rs 24 crore. CRA Services grew 16% YoY, onboarding 32.4 lakh subscribers with a 98% market share in new additions. The Tax Services segment gained 80bps market share, issuing 1 crore PAN cards. Identity Services saw volume growth but faced pricing pressures. The company has a strong Rs 300 crore orderbook and secured a Rs 100 crore mandate from BSIF to build a national insurance marketplace.

Glenmark Pharmaceuticals:

• The Company’s subsidiary, Glenmark Pharmaceuticals Inc., USA, (Glenmark USA), is named in multiple antitrust and consumer protection lawsuits, including class actions, consolidated in the Eastern District of Pennsylvania, U.S. 

• These relate to industry-wide allegations concerning price-fixing, market allocation, and related anticompetitive conduct. Plaintiffs include putative classes of direct purchasers, end-payers, and indirect purchasers of generic drugs, as well as numerous private, direct-action plaintiffs. Plaintiffs allege both individual drug-specific conspiracies and an “overarching” conspiracy among manufacturers of generic drugs in the United States. 

• With a view to resolve this dispute and avoid uncertainty, Glenmark USA has agreed to enter into a settlement with the putative direct purchaser class, for a total of $37.75 million (USD). 

Enviro Infra:

• Enviro Infra has announced that it has from 1st April to till date, secured cumulative orders worth Rs 1,178.30 crore from various Government authorities in its core areas of Water Treatment Plants (WTPs), Sewage Treatment Plants (STPs) and Common Effluent Treatment Plant (CETPs). 

• The most recent addition to this growing order book is two significant projects worth Rs 85.22 crore, awarded during the week by the Gurugram Metropolitan Development Authority (GMDA) for the design, construction, and commissioning of 2 Tertiary Treatment Plants (TTPs) with capacities of 90 MLD and 75 MLD. 

• This project marks a significant step in advanced wastewater recycling and reuse, aligning with the country’s goals for sustainable urban water management and at the same time supports the company’s expected growth of 35–40% in FY26 and beyond.

Hindustan Copper:

• Hindustan Copper Ltd (HCL) has executed a Memorandum of Understanding (MoU) with GAIL aiming to jointly participate in copper, critical minerals block auctions, develop and operationalise blocks for exploration and mining, mining and processing of minerals and share risks across the value chain. The purpose of the MoU is also to share investments and risks for the development, mining and processing from existing assets of HCL.

Lemon Tree:

• The company has announced opening of Lemon Tree Hotel, Chandausi thier 8th property of the group in Uttar Pradesh featuring 61 rooms and suites (as against the 70 rooms as disclosed to the stock exchange on November 04, 2022) and will open in two phases. 

• As part of Phase-I , 31 well-appointed rooms have opened today, along with Citrus Café – a multi-cuisine restaurant, and expansive banquet spaces. The remaining 30 rooms and suites, along with the Republic of Noodles — a pan-Asian restaurant, Pool Bar & Grill, a fitness center, a swimming pool and the remaining banquet spaces, will open shortly, as part of Phase- II.