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Stock market recap: The Indian stock market ended with modest gains on Friday, 12 September, led by select heavyweights such as ICICI Bank, Bajaj Finance, and Reliance Industries, supported by broadly positive global cues.

The Sensex rose 356 points, or 0.44%, to close at 81,904.70, while the Nifty 50 added 109 points, or 0.43%, to finish at 25,114. Mid- and small-cap segments also closed in the green but lagged behind the benchmarks, with the BSE Midcap index up 0.09% and the Smallcap index gaining 0.27%.

Against this backdrop, market expert Raja Venkatraman has released his top stock picks for investors seeking opportunities today, 15 September. His analysis provides a clear roadmap for navigating the current market landscape with confidence.

Why it’s recommended: Acme Solar is a leading Indian independent power producer (IPP) specializing in renewable energy, including solar, wind, and hybrid power projects. The last few days prices are holding the bullish bias after testing the cloud support region. With a repeated rounding pattern formation possibility of more upward traction has emerged. Look to initiate long as more upside is in store in the next few days.

Key metrics: P/E: 516.02, 52-week high: ₹317.90, Volume: 3.12M.

Why it’s recommended: AWL Agri Business is a major Indian food and fast-moving consumer goods (FMCG) company headquartered in Ahmedabad. The stock has spent the last few days consolidating, forming a base at lower levels. With some buying pushing prices above the clouds price action highlights some new found momentum. Further robust volume lead breakout consider going long at current levels and also on dips.

Key metrics: P/E: 30.30, 52-week high: ₹375.85, Volume: 685.95K

Why it’s recommended: IT and related stocks are once again showing some surge in momentum as they are now showing signs of recovery. This stock had been beleaguered and the prices too were getting caught in the Ichimoku clouds until this Friday. The strong surge seen with volumes have reignited the upward momentum to end on a strong note giving rise to a fresh buying interest. Looking at current setup we can look to go long.

Key metrics: P/E: 68.22, 52-week high: ₹1195.65, Volume: 1.8M.

Dalal Street extended its winning run for the eighth straight session on 12 September, with the Nifty 50 closing above 25,100 for the first time since July 23. The Sensex gained 356 points to settle at 81,904.70, while the Nifty climbed 109 points to 25,114, leading to the strongest weekly advance in nearly three months as both benchmarks rose 1.5 percent. Sectoral strength came from auto, pharma, metals, and telecom, each adding up to 1%, while realty, FMCG, media, and PSU banks slipped. Broader markets underperformed with only marginal gains.

Key Nifty winners included Bharat Electronics, Bajaj Finance, Shriram Finance, Hindalco, and Bajaj Finserv, while HUL, Wipro, and Trent lagged. In stock-specific moves, Infosys rose 1% amid a larger-than-expected share buyback, JBM Auto soared 14% after IFC’s $100 million e-mobility investment, and Lupin advanced 2.7% post an upgrade.

Over 120 BSE stocks, including GMDC, Bajaj Finance, and Zydus Wellness, hit fresh 52-week highs.

Our hopes got a strong boost yet again this Friday, as the Nifty retained the positive sentiment despite some weekend profit booking suggesting that the trends continue to exude positive bias. The scampering by short holders with the week ending brought about a fair amount of volatility and the markets retained the bullish tone set at the start of the day. However, we must note that the market is still not out of woods and will need some time to stabilize before it sets the pace for the trend recovery.

Post some enthusiasm shown last week the markets drifted into a sideways phase. The geo-political tensions continue to remain steadfast thus keeping any possibility of recovery at bay. With the trends remaining sanguine it becomes necessary for us to scale down our approach to the market as a whole. The important part here is that at every possible the markets are seen heading higher. It is easier to target stock specific action instead of the broader indices. Right now, no clear synergy between the three main indices Nifty, Bank Nifty and IT one needs to see how the relevant stocks are performing.

Moving to the charts we note that the prices are continuing to exhibit a slow and steady move to the upside which is highlighting bullish bias emerging at lower levels. Despite repeated attempt to move higher Nifty had not been able to move beyond 25100 until this Friday.

The Open Interest seen on the daily chart shows that there is an alternating position getting created which is indicating that the markets are definitely uncertain. The modified Pitchfork drawn has been holding back the decline and the trendline shown (perforated line) is hindering the upward charge. A move from here could see Nifty scale towards its next set of targets around 25400 which is also the previous high. This level is combining with the median line and this could prove to be a tough challenge for the Nifty.

Overall, the market is poised at an interesting stage as the trends have picked up steam with some encouraging newsflow from overseas as well as domestic macro numbers that are indicating that we could be looking at the recovery to sustain. The new initiatives by the government to kickstart the consumption theme is also found some good buy in. The steady tailwinds that are emerging ahead of the festive season could help the cause.

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.

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