Stocks to Buy Today: Chandan Taparia Recommends Sona BLW, Alkem Laboratories & RBL Bank for 31 July

Stocks to Buy Today – 31 July 2026

Indian benchmark indices are expected to open on a flat-to-positive note on Friday, supported by stable global cues and positive indications from the Gift Nifty.

According to technical analyst Chandan Taparia of Motilal Oswal Financial Services, traders should focus on Sona BLW Precision Forgings, Alkem Laboratories and RBL Bank for today's trading session.

The broader market continues to trade with a positive bias, although global uncertainties and geopolitical developments remain key factors influencing investor sentiment.

Market Outlook

Indian equities ended the previous trading session in positive territory.

Previous Session Performance

Sensex

• Closed at 77,928.15
• Gained 274 points (+0.35%)

Nifty 50

• Closed at 24,317.15
• Gained 67 points (+0.28%)

Gift Nifty also indicated a positive start, suggesting cautious optimism among market participants.

Nifty 50 Technical Outlook

According to Chandan Taparia, the Nifty 50 has formed a bullish candle on the daily chart and has continued making higher highs and higher lows over the past four sessions.

Important Levels

Resistance

• 24,500
• 24,600

Support

• 24,200
• 24,100

As long as the index sustains above 24,300, the short-term trend remains constructive.

Bank Nifty Outlook

Bank Nifty ended the previous session with marginal losses but continued to show buying interest near lower levels.

Important Levels

Resistance

• 57,500
• 57,750

Support

• 57,000
• 56,750
• 56,500

The index is expected to remain positive while holding above the 57,000 mark.

Stock Pick 1 – Sona BLW Precision Forgings

Recommendation

Action

• Buy

Target Price

• ₹800

Stop Loss

• ₹740

Technical View

According to Taparia

• Stock remains in a strong uptrend.
• Price is respecting its 20-DEMA support.
• Buying interest continues on minor declines.
• Rising ADX indicates strengthening trend momentum.

The stock continues to display bullish price action supported by healthy trend strength.

Stock Pick 2 – Alkem Laboratories

Recommendation

Action

• Buy

Target Price

• ₹6,150

Stop Loss

• ₹5,650

Technical View

Taparia highlighted

• Breakout above a falling trendline.
• Strong bullish candle formation.
• Higher-than-average trading volumes.
• RSI momentum remains positive.

These indicators suggest improving momentum and continued buying interest.

Stock Pick 3 – RBL Bank

Recommendation

Action

• Buy

Target Price

• ₹400

Stop Loss

• ₹366

Technical View

According to the analyst

• Breakout from a consolidation range.
• Strong bullish candle.
• Above-average trading volumes.
• MACD indicates strengthening positive momentum.

The breakout suggests the possibility of continued upside if momentum remains intact.

Key Technical Summary

Sona BLW Precision Forgings

• Buy
• Target: ₹800
• Stop Loss: ₹740

Alkem Laboratories

• Buy
• Target: ₹6,150
• Stop Loss: ₹5,650

RBL Bank

• Buy
• Target: ₹400
• Stop Loss: ₹366

What Traders Should Watch

Market participants should monitor

• Global market sentiment
• Institutional buying activity
• Crude oil price movements
• US bond yields
• Corporate earnings announcements
• Sector-specific momentum

Volatility may remain elevated as the Q1 FY27 earnings season continues.

Key Takeaways

• Gift Nifty signals a positive opening for Indian markets.
• Nifty remains bullish above 24,300.
• Bank Nifty support is placed near 57,000.
• Chandan Taparia recommends buying: Sona BLW Precision Forgings Alkem Laboratories RBL Bank
• Traders should maintain disciplined risk management using recommended stop losses.

Final Thoughts

Technical indicators continue to support a positive short-term market outlook despite ongoing global uncertainties. Stocks showing strong breakouts, rising momentum and healthy volume participation remain in focus.

While technical setups can offer trading opportunities, investors should combine chart analysis with proper risk management and monitor broader market developments before making trading decisions.

Disclaimer

This article is published solely for educational and informational purposes and should not be considered financial, investment, legal, or tax advice. The information presented is based on publicly available sources and is believed to be accurate at the time of publication; however, TrendRipperX does not guarantee its completeness or accuracy.

TrendRipperX is not registered with the Securities and Exchange Board of India (SEBI) as an Investment Adviser or Research Analyst. Any views expressed are for informational purposes only and do not constitute a recommendation to buy, sell, or hold any security.

Investments in the securities market are subject to market risks. Readers should conduct their own research and consult a SEBI-registered financial advisor before making any investment decisions.