Best stocks to buy today: Ankush Bajaj's top three recommendations for 28 August

On Tuesday, 26 August, Indian equities ended the session on a weaker note, as profit-taking and selling pressure weighed across the board. The Nifty 50 fell by 255.70 points or 1.02% to close at 24,712.05, while the BSE Sensex dropped 849.37 points or 1.04%, finishing at 80,786.54. The Bank Nifty underperformed further, slipping 688.85 points or 1.25% to settle at 54,450.45, reflecting continued strain in financial counters. Top 3 stock picks for 28 August by Ankush Bajaj Buy: Hindware Home Innovation Ltd (Current price: ₹ 318.50) Why Hindware Home is recommended: Hindware Home has been showing consistent strength, with daily RSI at 67 confirming bullish momentum. The MACD is firmly positive at 10, and ADX at 21 indicates that the uptrend is gaining traction. Importantly, the stock has recently taken strong support from its 20-EMA, suggesting that buyers are defending key levels. The company is positioned in the consumer durables and building products space, where demand recovery has been strong on the back of urban housing and renovation trends. This sectoral tailwind, combined with the stock’s technical setup, makes it a strong candidate for continuation of the rally. Key metrics : Pattern: Support bounce from 20-EMA RSI: 67, bullish momentum MACD: Positive at 10 ADX: 21, trend strengthening Technical view: The support at the 20-EMA indicates that the rally is intact, projecting upside potential towards ₹335. Risk factors: Moderate leverage makes the company sensitive to changes in financing costs. Demand is linked to discretionary spending, which could weaken in a slowdown. Margins are exposed to volatility in raw material and freight costs. Buy at: ₹318.50 Target price: ₹335 Stop loss: ₹311 Buy: Hindalco Industries Ltd (Current price: ₹ 705.70) Why Hindalco Industries is recommended: Hindalco has displayed resilience after recent consolidation, with daily RSI at 56, MACD positive at 7, and ADX at 17 showing signs of trend revival. The stock has a strong demand base around ₹698, which is acting as a crucial support zone. Fundamentally, Hindalco benefits from its leadership position in aluminium and copper, supported by strong demand from automotive, aerospace, and renewable energy sectors. With global aluminium prices stabilizing and Novelis (its subsidiary) maintaining steady demand from packaging and EV markets, the setup provides fundamental backing to the technical view. A sustained trade above ₹698 could lead to an accelerated rally. Key metrics Pattern: Support established at ₹698 zone RSI: 56, steady bullish bias MACD: Positive at 7 ADX: 17, trend gaining traction Technical view: Holding above ₹698 strengthens the base, paving the way for an upside move towards ₹740. Risk factors: Business is cyclical and highly exposed to fluctuations in global aluminium and copper prices. Higher energy and coal costs may compress profitability. Global operations bring currency and geopolitical risks, particularly from the US and China. Buy at: ₹705.70 Target price: ₹740 Stop loss: ₹688 Buy: Dishman Carbogen Amcis Ltd (Current price: ₹ 271.65) Why Dishman Carbogen is recommended: Dishman Carbogen has shown improving technical strength, with daily RSI at 58, MACD at 5, and ADX at 24 confirming steady momentum. On the 45-minute chart, the stock has given a rectangle breakout, often signaling accumulation followed by a continuation rally. The breakout suggests that the stock is preparing for a pullback move toward higher levels. On a fundamental note, the company operates in the pharma CRAMS (custom research and manufacturing services) space, which continues to attract global demand due to outsourcing trends in drug development and specialty manufacturing. Recent operational focus on cost controls and capacity expansion adds further confidence in the technical breakout. Key metrics Pattern: Rectangle breakout on intraday timeframe RSI: 58, supporting bullish momentum MACD: Positive at 5 ADX: 24, confirming trend strength Technical view: Breakout setup suggests a pullback rally towards ₹286. Risk factors: Order book can be lumpy, leading to volatility in revenue flow. High dependence on regulatory clearances in global markets. Competitive pressures in CRAMS could limit margin expansion. Buy at: ₹271.65 Target price: ₹286 Stop loss: ₹265 Market insight On Tuesday, 26 August, sectoral trends remained uneven, with sharp declines seen in realty (−2.24%), PSU Bank (−1.87%), and the PSE index (−1.67%), which dragged market breadth lower. The only bright spot came from the Realty index, which managed to gain 0.75%, showing selective investor interest. Stock-specific action saw Eitcher Motors as the top gainer, advancing 2.68%, followed by Hindustan Unilever, which climbed 2.32%, and Maruti, which rose 1.81%, supported by steady demand and rotation into defensives. On the downside, heavyweights added pressure—Shriram Finance dropped 4.21%, Sun Pharma fell 3.40%, and Tata Steel declined 2.88%. Globally, investor sentiment drew support from softer-than-expected U.S. inflation data, reviving expectations of a September Federal Reserve rate cut. Domestically, retail inflation cooling to an eight-year low of 1.55% also acted as a cushion. Despite these positives, sectoral weakness capped gains, but the Nifty managed to hold firm above the 24,600 mark. Nifty technical analysis—daily and hourly Nifty endured a turbulent session on 26 August, closing sharply lower at 24,712.05, down 255 points or 1.02%, as volatility from the weekly and monthly expiry combined with news-driven whipsaws to weigh on sentiment. The index slipped back below its key short-term averages, reinforcing the caution seen in recent sessions. On the daily chart, the 20-DMA at 24,739 and the 40-DEMA at 24,859 acted as crucial swing levels, but Nifty’s inability to sustain above them has left the structure weak. The intraday setup further underscored this, with the index closing beneath both the 20-HMA at 24,878 and the 40-HEMA at 24,883, a clear indication of short-term momentum breakdown. View Full Image (TradingView) Momentum indicators echoed this deterioration. The daily RSI cooled to 46, leaning toward the lower neutral band, while the hourly RSI slipped to 30, a level close to oversold territory that may allow minor bounces but reflects heavy intraday pressure. The MACD picture remains negative, with the daily MACD declining further to –16 and the hourly MACD plunging to –58, confirming that the undertone is firmly bearish across timeframes. View Full Image (TradingView) The options market also tilted heavily against the bulls. Total Call OI stood at 18.76 crore against Put OI of 10.66 crore, leaving a wide negative differential of –8.10 crore. The day’s OI changes were particularly telling. Call OI increased by 1.42 crore while Put OI reduced by 2.74 crore, creating a bearish differential of –4.16 crore. This clearly signals active Call writing alongside Put unwinding, a classic expiry-day bearish adjustment. Strike-wise, the heaviest Call OI was placed at 25,000, making it the primary resistance zone, with fresh additions also visible at 24,800. On the downside, the maximum Put OI remained at 24,000, providing broad positional support, though nearer-term support around 24,700 weakened as Put activity there got eroded. Taken together, the picture is one of short-term bearishness with range-bound volatility. Immediate resistance is locked at 24,800–25,000 where Call writers remain dominant, while support zones lie first at 24,700 and then deeper at 24,600–24,000. With hourly RSI near oversold, sharp intraday swings or brief rebounds are possible, but the broader tone stays defensive unless Nifty reclaims 25,000 decisively. For traders, the strategy favours selling into rallies near 24,800-25,000 with a stop above 25,050, while monitoring downside extensions towards 24,600-24,500 in the near term. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. 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 guarantee 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.