3 Stocks to Buy on August 20: Paradeep Phosphates, MMTC, Finolex | PL Capital Picks
- 19th August 2025
- 05:30:00 PM
- 2 min read
Mumbai | August 20 – Domestic equities are trading steady with the Nifty reclaiming the 25,000 mark and Bank Nifty holding firm near 56,000. The overall undertone remains positive, but analysts caution that sustaining above key support levels will be crucial for further upside. Against this backdrop, Shiju Koothupalakkal, analyst at PL Capital – Prabhudas Lilladher Pvt Ltd, shares his top stock recommendations for investors navigating a volatile market.
Nifty has regained strength after a brief pause, closing above its 50-day exponential moving average at 24,800 and retesting 25,000. According to Koothupalakkal, once the index breaches the recent peak of 25,100 decisively, it could head towards 25,200–25,300 in the near term, while 24,800 remains the crucial support zone. Bank Nifty continues to oscillate between 55,500 and 56,000, with a breakout above 56,000 expected to trigger fresh momentum towards 56,500–57,000. For the day, the index is expected to trade in the 55,400–56,500 range.
Stocks to Watch:
On the stock front, PL Capital highlights three buy ideas
Paradeep Phosphates (CMP: ₹207 | Target: ₹222 | Stop Loss: ₹202)
The stock has resumed its uptrend after consolidating near ₹197, forming a higher-bottom pattern. RSI trends point to a positive reversal, supporting further gains.
MMTC (CMP: ₹65.30 | Target: ₹70 | Stop Loss: ₹63.50)
MMTC shares have bounced back from a correction, crossing the 100-day moving average at ₹64. Strong volumes and momentum indicators suggest potential for an upward move.
Finolex Industries (CMP: ₹205.80 | Target: ₹220 | Stop Loss: ₹200)
After consolidating near ₹186, the stock has surged past the 50-EMA at ₹203. Technical indicators, including RSI, point to further upside.
“With Nifty and Bank Nifty holding above their key supports, the broader market outlook stays constructive. A stock-specific approach with strict stop-loss levels is recommended,” Koothupalakkal said.
PL Capital
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
