? Important Globa Update ?

Global Stocks Advance as US Recession Fears Fade.Hope of Fed to cut interest rate next month. Short covering may not be ruled out domestic market in the later part of the day

· Global stocks rose on Friday, with sentiment buoyed by growing optimism that the US will avoid a recession.

· US equity futures signaled modest gains for the S&P 500 and the Nasdaq 100, which are both on course for their biggest weekly advance since November.

· The latest US data, from inflation to jobless claims and retail sales, has reassured investors, supporting the view that the world’s biggest economy is heading for a “Goldilocks” scenario of contained inflation accompanied by resilient growth.

· In Asia, stocks also headed for their best weekly performance in over a year, led by Japan as a weak yen boosts exporters’ earnings prospects.

· The Japan currency is set for its sharpest weekly drop since May after sliding 1.3% against the dollar Thursday.

· Short covering may not be ruled out domestic market in the later part of the day

Disclaimer - Investments in securities markets are subject to market risks. Please read all related documents carefully. To read complete disclaimer click on https://onlinetrade.motilaloswal.com/emailers/Disclaimer_SRSA/ResearchDisclosure.pdf

*3️⃣Things That Will Decide The Market Today ?***

? GIFT NIFTY opened 151 points higher at 24,319 signalling that the Indian stock market is headed for a positive start today.

?The S&P 500 and Nasdaq Composite both extended their winning streaks to five sessions on Wednesday, supported by favorable inflation data that strengthen expectations of a Federal Reserve rate cut next month. However, trading was quiet with some megacap tech stocks weighing on the Nasdaq and many investors away for August vacations, leading to a generally quiet market.

? The volatility index - India VIX declined 4.53% to the levels of 15.44 indicating lowering volatility in the market.

**Motilal Oswal's Daily Fundamental and Technical Picks

Fundamental Picks (for more than a year)**

1) Varun Bevarages - Target - 1900 (30%)
2) Ambuja Cement - Target - 800 (29%)
3) Hindalco - Target - 790 (27%)
4) Titan - Target - 4150 (22%)
5) HDFC Bank - Target- 1850 (15%)

Technical Pick (for 2-3 days)

TCS

Previous Close - 4295
Target - 4520
Potential Upside - 5%

Conviction Delivery Idea

BUY LTTS

CMP 4903
SL 4678
TGT 5353

Estimated Profit 9%

Disclaimer - Investments in securities markets are subject to market risks. Please read all related documents carefully. To read complete disclaimer click on https://onlinetrade.motilaloswal.com/emailers/Disclaimer_SRSA/ResearchDisclosure.pdf

Conviction Delivery Idea

BUY WOCKPHARMA

CMP 945
SL 917
TGT 1001

BTST

BUY BEL

CMP 302
SL 298
TGT 311

*3️⃣Things That Will Decide The Market Today ?***

? GIFT NIFTY opened 20 points lower at 24,351 signalling that the Indian stock market is headed for a negative start today.

?U.S. stocks surged on Thursday, with the Nasdaq and S&P 500 rising over 2% as jobless claims dropped more than anticipated, easing concerns about a rapidly weakening labor market. All major S&P 500 sectors, especially technology and communication services, saw gains. Small-cap stocks also performed well, with the Russell 2000 index up 2.4%..

? The volatility index - India VIX advanced 2.67% to the levels of 16.60 indicating lowering volatility in the market.

**Motilal Oswal's Daily Fundamental and Technical Picks

Fundamental Picks (for more than a year)**

1) Hindalco - Target - 790 (29%)
2) Varun Beverage - Target - 1900 (28%)
3) Titan- Target - 4150 (26%)
4) Ambuja Cement - Target - 800 (25%)
5) HDFC Bank - Target- 1850 (13%)

Technical Pick (for 2-3 days)

ICICI Pru Life

Previous Close - 738
Target - 780
Potential Upside - 6%

BTST

BUY NTPC

CMP 423
SL 414
TGT 442

Estimated Profit 4%

Disclaimer - Investments in securities markets are subject to market risks. Please read all related documents carefully. To read complete disclaimer click on https://onlinetrade.motilaloswal.com/emailers/Disclaimer_SRSA/ResearchDisclosure.pdf

Conviction Delivery Idea

BUY IREDA

CMP 256
SL 250
TGT 269

Estimated Profit 5%

Disclaimer - Investments in securities markets are subject to market risks. Please read all related documents carefully. To read complete disclaimer click on https://onlinetrade.motilaloswal.com/emailers/Disclaimer_SRSA/ResearchDisclosure.pdf

Conviction Delivery Idea

BUY IREDA

CMP 256
SL 250
TGT 269

Estimated Profit 5%

Disclaimer - Investments in securities markets are subject to market risks. Please read all related documents carefully. To read complete disclaimer click on https://onlinetrade.motilaloswal.com/emailers/Disclaimer_SRSA/ResearchDisclosure.pdf

BTST

BUY BHEL

CMP 299
SL 293
TGT 310

Estimated Profit 4%

Disclaimer - Investments in securities markets are subject to market risks. Please read all related documents carefully. To read complete disclaimer click on https://onlinetrade.motilaloswal.com/emailers/Disclaimer_SRSA/ResearchDisclosure.pdf