According to reports from Mint, the week of September 21-25 highlighted the tug-of-war between bargain buying and persistent global headwinds. Nifty traded in a volatile range between 23,116.10 and 23,592.85, reflecting sharp intraday swings. The week began positively on September 21, with Nifty gaining 0.29% to 23,414.30 and Sensex rising 0.76% to 74,858.99, supported by bargain buying in large-cap stocks and easing crude oil prices. However, broader markets failed to participate, as midcaps and smallcaps slipped, highlighting selective recovery. By the end of the week, Nifty had surrendered gains, closing at 23,346.40, down 51.70 points (-0.22%) week-on-week, while Sensex lost 486.80 points (-0.65%). Latest data shows equity benchmarks bounced back with Nifty 50 gaining around a third of a percent, supported by improved market breadth where about 1,704 shares advanced against 1,537 declining shares on the NSE.
As reported by Mint, market expert Raja Venkatraman from NeoTrader has recommended three stocks for September 28 trading. ROLEXRINGS is recommended as a buy above ₹196 with stop loss at ₹187 and target price of ₹218 (multiday). The company is one of India's leading manufacturers of forged and machined automotive components and bearing rings, with P/E ratio of 33.70 and 52-week high of ₹196.55. EMIL is suggested as a buy above ₹201 with stop loss at ₹193 and target price of ₹223 (multiday), being the 4th largest consumer durables and electronics retailer in India. MANINFRA is recommended as a buy above ₹131 with stop loss at ₹127.50 and target price of ₹139 (multiday), an Mumbai-based integrated EPC and real estate development company.
According to NDTV Profit's Ask Profit show, market experts provided specific recommendations for key stocks. Pricol receives a 'Buy' rating at current market price of ₹756.30, with experts citing broadly positive sentiment in the auto and auto ancillary sector. The stock is expected to perform well in Q2 following good Q1 results, though it trades at 39 times book value and requires a staggered investment approach. ITC is recommended as a 'Hold' at ₹266.80, as price hikes in raw materials may help margin recovery despite current margin squeeze. Rolex Rings gets a 'Buy' rating at ₹193.34, with experts noting the stock's past performance on multi-month rallies, though they maintain a cautious approach due to unfavorable risk-to-reward ratios. NSE is suggested as an 'Accumulate' at ₹1,774.50, recommended as a long-term portfolio stock despite negative performance in recent quarters.
According to Teji Mandi's Jatin Gedia, several stocks present compelling technical setups for September 28 trading. Samvardhana Motherson International shows an inverted head-and-shoulders pattern with buy strategy at ₹165.71, target ₹174, and stop-loss ₹161. Balrampur Chini Mills is recommended as a buy above ₹685.8 with target ₹740 and stop-loss ₹668, having formed higher highs and lows in an uptrend. Jubilant Foodworks presents a short-term uptrend opportunity with buy at ₹484.55, target ₹527, and stop-loss ₹475 after breaking out of a channel pattern. HBL Engineering shows strong momentum with buy at ₹806, target ₹875-₹900, and stop-loss ₹720 following a breakout from inverted head-and-shoulders pattern. Bank of Maharashtra is recommended as a buy around ₹84.88 with targets ₹95-₹98 and stop-loss ₹77 after breaking above descending trendline.
According to Mint, sectoral performance was mixed during the week. Pharma and realty indices gained over 1%, while metals came under pressure. The damage was largely done by IT sector as a fall triggered by weak global tech sentiment, cautious guidance, and persistent FII outflows dragged component stocks lower. Banking sector faced challenges after IRDAI guidelines struck heavily on banking names, creating a cascading effect on the market. Despite early strength, sentiment weakened midweek as global bond yields remained elevated and geopolitical tensions in the Middle East persisted. Foreign institutional investors continued to offload equities, keeping the undertone cautious. Latest market breadth shows improvement with 1,704 advancing shares versus 1,537 declining shares on the NSE.
