According to Aakash K Hindocha, Vice President - Research at Nuvama Professional Clients Group/Nuvama Wealth, three stocks have been identified as top picks for September 3, 2026. Bank of Maharashtra is recommended as a buy with a low cost price of ₹82.4, stop loss at ₹78, and target of ₹88. Glenmark Pharma is suggested with a low cost price of ₹2468, stop loss at ₹2340, and target of ₹2700. Tata Technologies rounds out the recommendations with a low cost price of ₹815, stop loss at ₹775, and target of ₹940.
As reported by The Times of India, Bank of Maharashtra remains the top pick among PSU banks, currently consolidating around its 20-day moving average with strong volume on up days compared to down days. The stock is showing technical strength with monthly timeframe volatility compressing and heading towards an upside burst once the broader market picks up pace. The analyst's technical analysis suggests favorable risk-reward conditions for long positions in the banking sector.
According to the analysis, Glenmark Pharma has recently broken out into uncharted territory with strong daily candles, showing relative strength compared to the broader market. The pharma sector is demonstrating outperformance, and Glenmark Pharma has recently retested its breakout zone of ₹2400 and is expected to continue its upward momentum towards fresh all-time highs. The technical setup suggests continued bullish momentum in the pharmaceutical sector.
As reported by The Times of India, Tata Technologies is currently consolidating its gains post a cup and handle pattern breakout on weekly charts seen in the first week of August. The stock has gained more than 50% since its bottom made in March and is positioned among the strong names in the IT space. The technical analysis indicates that post consolidation of its gains, further momentum is likely to continue, supporting the buy recommendation.
According to the analyst's technical assessment, Nifty broke a crucial trendline which had been acting as support for the last 3.5 months and closed below the same. This decline was primarily attributed to an oil price spike due to fresh escalating situation in West Asia conflict. The analysis suggests that if Nifty regains the trendline in the next couple of sessions, it could test the 200 DMA zone of 24700-24800. However, any follow-through in downside could push Nifty towards the 23650 level. On the other hand, Bank Nifty is showing more resilience than Nifty and remains a buy on dip candidate unless it closes below the 56800 mark with strong daily bearish candle. The upside targets for Bank Nifty are positioned at the 58500-59000 zone.
