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%.
Two stock recommendations by MarketSmith India for 15 September
Buy: Hindustan Aeronautics Ltd. (current price: ₹ 4,745)
- Why it’s recommended: Strong order book and visibility, strategic position in defence sector, rising defence budget & policy tailwinds, healthy financial performance, R&D, and Technological Edge
- Key metrics: P/E: 37.09, 52-week high: ₹5,165.00, volume: ₹1,322.22 crore
- Technical analysis: Reclaimed its 100-DMA on above-average volume
- Risk factors: Dependency on government orders, execution & delivery challenges, limited export base, and competition from the private sector and global players
- Buy at: ₹ 4,721–4,792
- Target price: ₹ 5,420 in two to three months
- Stop loss: ₹ 4,450
Buy: Astra Microwave Products Ltd (current price: ₹1,085)
- Why it’s recommended: Strong and expanding order book, government and policy tailwinds
- Key metrics: P/E: 62.69; 52-week high: ₹1,200; volume: ₹ 173.61 crore
- Technical analysis: downward-sloping trendline breakout
- Risk factors: Working capital & receivables stress, tender / order-driven business: visibility & cyclicality
- Buy at: ₹1,070–1,090
- Target price: ₹1,250 in two to three months
- Stop loss: ₹ 1,015
How the Nifty 50 performed on 12 September
Indian equities ended higher on 12 September, with the Nifty 50 closing at 25,114, up 108 points or 0.43%, supported by positive global cues and optimism around the US Fed rate cut prospects and progress in India-U.S. trade talks. The index largely traded in the green through the session, holding above 25,000, with the advance-decline ratio tilting in favour of gainers, indicating broad-based participation.
On the sectoral front, buying interest was seen across Banks, Autos, and select IT counters, which offset mild profit-taking in defensives. On a weekly basis, Nifty added nearly 1.5–2%, marking its third consecutive week of gains, driven by sustained global risk appetite and improving domestic sentiment.
Nifty 50 extended its gains in today’s session, decisively breaking above key short-term resistance levels, including the 50- and 100-day SMAs. The index also registered a breakout above the upper trendline of a symmetrical triangle near 25,050, a technically significant level that reinforces the ongoing bullish trend.
Momentum indicators further validate the positive bias. The RSI has crossed above 61 following a trendline breakout, while the MACD has turned positive with a bullish crossover. That said, trading volumes remain relatively subdued, suggesting that stronger market participation will be critical to confirm the breakout and sustain the current upward trajectory.
According to O’Neil’s methodology of market direction, the market status has been downgraded to an “Uptrend Under Pressure” as Nifty breached its “50-DMA” and the “distribution day count” is at one.
The index reclaimed its 50-DMA and the psychological 25,000 mark this week, reinforcing a constructive near-term bias. On the upside, the index faces a critical resistance zone at 25,150–25,300, and a decisive close above this band would be necessary to unlock further upside potential toward 25,500–25,800 in the coming sessions.
On the downside, immediate support is placed in the 24,800–24,750 range. A breakdown below this zone could reintroduce selling pressure and drag the index lower toward 24,600–24,500. Overall, the index remains positioned constructively, but sustained trade above the 25,150–25,300 resistance zone will be key to confirming the next leg higher.
How did Nifty Bank perform?
On Friday, Bank Nifty opened on a positive note, though initial trade was marked by volatility, taking the index to an intraday low of 54,580.35. From there, the index staged a strong rebound, witnessing renewed buying interest that propelled it into positive territory by the close. The index formed a bullish candle on the daily chart and importantly reclaimed its 21-DMA, signalling a shift back toward a positive bias.
During the session, Bank Nifty opened at 54,781.55, touched an intraday high of 54,852.25, and finally settled at 54,809.30. This price action highlights underlying resilience in the banking space and reflects strengthening investor sentiment. The reclaiming of short-term moving averages further reinforces the constructive setup, with market participants now looking for follow-through momentum in the coming sessions to validate the emerging bullish undertone.
Momentum signals continue to convey a measured undertone for Bank Nifty. The RSI has inched up to 45, suggesting gradual improvement, while the MACD has turned positive with a crossover. However, its position below the central line suggests tempered strength and restrained momentum. As per O’Neil’s methodology of market direction, Bank Nifty currently falls under the classification of “Uptrend Under Pressure.”
Within this context, market participants are encouraged to prioritize fundamentally resilient companies that exhibit constructive technical configurations. Equally important is maintaining disciplined risk management and deploying capital selectively toward high-conviction opportunities, rather than chasing broad-based exposure.
Bank Nifty continues to display resilience after its recent recovery, with the index now approaching key technical levels that will define its near-term trajectory. Immediate resistance is placed at 54,750, while a stronger supply zone is seen near 55,300. A sustained close above this region would be critical in validating the ongoing rebound and could pave the way for a broader uptrend, with a move beyond 55,000 expected to further strengthen bullish sentiment.
On the downside, immediate support rests in 54,200–54,000. A decisive breakdown below this range may invite renewed selling pressure, potentially dragging the index to lower levels. Encouragingly, the reclaiming of short-term moving averages and the formation of a bullish daily candle suggest that buyers still hold the upper hand. If follow-through momentum builds in upcoming sessions, the index could set the tone for a stronger trend reversal.
MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, founded by legendary investor William J. O’Neil. You can access a 10-day free trial by registering on its website.
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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.
