Aakash K Hindocha, Vice President – Research at Nuvama Professional Clients Group/Nuvama Wealth Management, has selected Indian Bank, DLF, and Polycab India as the top stocks to buy for trading on August 13, 2026, according to a report by TOI Business Desk. The recommendations include specific last close prices, stop losses, target prices, and technical views on both Nifty and Bank Nifty.
Nuvama's Buy List: Key Levels
Hindocha assigned a BUY rating to all three stocks. The table below summarises the levels published in the report:
| Stock | Rating | Last Close Price (LCP) | Stop Loss | Target |
|---|---|---|---|---|
| Indian Bank | BUY | Rs 897 | Rs 855 | Rs 985 |
| DLF | BUY | Rs 661.75 | Rs 630 | Rs 735 |
| Polycab India | BUY | Rs 9,289 | Rs 8,920 | Rs 10,030 |
Technical Rationale Behind the Recommendations
Indian Bank: According to the report, after consolidating near its 50-week simple moving average for three months, the stock is strongly coming out of its range. The move is accelerated by an inverse head-and-shoulder pattern breakout on the daily chart. With the pattern's retest also underway, the report said the stock is now ready to move towards the pattern's target near 980-985 levels.
DLF: With a month-long pennant formation unfolding, the stock is placed right at the pattern's upper bound, near the breakout threshold, the report stated. The stock's 14-period ADX is trading near the lows, signifying an impending expansion in volatility. With the lowest point of the pennant near 630 now a strong base, the stock is set to continue its preceding up move, according to the report.
Polycab India: Since late June, the stock witnessed a healthy correction and successfully retested a prior resistance, which is now a robust support, the report noted. Apart from improvement in price action after retesting this role-reversal mark, a near-term trend line breakout occurring on the daily chart is further creating a stronger picture for an imminent upside move towards all-time levels.
Nifty and Bank Nifty: Levels to Watch
The report also shared technical views on the benchmark indices.
Nifty ended flat yesterday, having recovered almost all its intraday losses in the last couple of hours of trade along with a final push from the CAS session. For the past two trading sessions, Nifty's open and high were nearly equal. Hence, it is now crucial for Nifty to overcome 24,575 levels for further upside triggers. Above that, Nifty's 200-day moving average at 24,575 will be eyed. Support for the index is placed at 24,200, followed by 24,050.
Bank Nifty, meanwhile, is holding firm above its 200-day moving average. After spending two trading sessions near this level, Bank Nifty closed in the green yesterday, gaining over 400 points. With 57,150 now acting as a strong base, the index remains open for 58,300/58,600 as per charts, the report said.
Analyst Disclosure
The report carried a disclosure stating that 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, and these opinions do not represent the views of The Times of India.
Sources:
