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%.
3 stock to buy—recommended by Ankush Bajaj for 15 September
Buy: Mazagon Dock Shipbuilders Ltd (current price: ₹2,924.70)
Why it is recommended: Mazagon Dock has been displaying sustained momentum, trading near record highs. On the daily chart, the stock remains firmly above its key moving averages, confirming underlying strength. The RSI is holding in the bullish zone, indicating continued buying interest. The MACD is in positive territory, supporting trend continuation, while ADX readings reflect a healthy and established uptrend. The breakout-driven momentum in the broader defence PSU basket also reinforces the bullish bias in the stock.
Key metrics
Pattern: Higher-high structure with breakout continuation
RSI (14-day): 63 In bullish zone — confirming momentum
MACD: -13 (Positive crossover — supporting trend continuation)
ADX: 18 trend strength intact
Technical view: Sustaining above the stop-loss zone at ₹2,897, the stock has scope to extend toward ₹2,986.
Risk factors: Valuations stretched after a sharp multi-month rally, raising profit-booking risk. Defence order flow and execution delays may add volatility. Broader PSU/defence sentiment will have an outsized impact.
Buy at: ₹2,924.70
Target price: ₹2,986
Stop loss: ₹2,897
Buy: Bharat Electronics Ltd (current price: ₹399.30
Why it is recommended: Bharat Electronics Ltd has been in a strong uptrend, supported by sustained buying in the defence PSU space. The stock is trading above short-term moving averages, indicating continued strength. On the daily chart, RSI is holding in the bullish territory, confirming momentum, while MACD remains positive, suggesting trend continuation. ADX signals that the trend strength is intact. With the stock consolidating near highs, a move above the immediate resistance zone opens scope for fresh upside.
Key metrics
Pattern: Higher-highs and consolidation near top levels
RSI: 64 In bullish zone — sustaining positive bias
MACD: Positive crossover — trend continuation
ADX: 24 Trend intact, confirming underlying strength
Technical view: Sustaining above ₹393, BEL can rally toward the ₹412 zone.
Risk factors: Valuations are elevated; sector sentiment could trigger profit-taking. Order inflows and defence spending outlook remain key to sustaining momentum.
Buy at: ₹399.30
Target price: ₹412
Stop loss: ₹393
Buy: NMDC Ltd (current price: ₹76.50)
Why it is recommended: NMDC is showing steady momentum, supported by strength in the metals and mining space. The stock has recently formed a higher base around the ₹75 zone, which now acts as strong support. RSI is trending upwards, MACD has given a bullish crossover, and ADX reflects emerging trend strength. On the short-term chart, price action indicates continuation, with potential to test the ₹78.50 zone.
Key metrics
Pattern: Base formation and breakout attempt
RSI: 68 Positive, showing improving momentum
MACD: 1.34 Bullish crossover — confirming strength
ADX: 19 Early signs of trend development
Technical view: Holding above ₹75.30, NMDC has scope to test ₹78.50.
Risk factors: Iron ore pricing remains cyclical and sensitive to global commodity trends. PSU volatility and policy changes may impact performance.
Buy at: ₹76.50
Target price: ₹78.50
Stop loss: ₹75.30
Stock Market Recap
On Friday, 12 September 12, Indian equities started the session with a strong gap-up and, after a brief consolidation phase, managed to break above the psychological 25,000 mark on the Nifty 50. This key level acted as a magnet throughout the day, and a late surge of buying interest helped the markets close decisively above it, signaling bullish sentiment returning at higher levels.
The Nifty 50 ended with gains of 108.50 points or 0.43% at 25,114.00, while the BSE Sensex rose 355.97 points or 0.44% to finish at 81,904.70. The Bank Nifty also remained firm, advancing 139.70 points or 0.26% to settle at 54,809.30, indicating selective accumulation in financial heavyweights.
Sector-wise, cyclical pockets extended support — the metal index climbed 0.93%, the PSE index rose 0.71%, and the financial services index gained 0.70%. On the flip side, defensive segments saw profit booking, with the FMCG index slipping 0.71%, the consumption index easing 0.29%, and the PSU bank index dropping 0.27%.
In stock-specific action, Bharat Electronics Limited stood out, surging 3.67% on strong institutional buying, while Bajaj Finance gained 3.40% and Bajaj Finserv added 2.14%. However, losses in select heavyweights capped further upside — Eternal dropped 2.04%, Hindustan Unilever eased 1.58%, and Bajaj Auto slipped 1.25%.
Nifty Technical Analysis – Daily & Hourly
The Nifty 50 closed at 25,114.00, higher by 108.50 points or 0.43 percent, maintaining its strength above the key 25,000 mark and extending its recent momentum. From a technical perspective, the index is comfortably trading above its medium-term averages, with the 20-DMA at 24,811 and the 40-DEMA at 24,827 acting as firm supports. On the daily chart, momentum indicators remain positive, with the RSI improving to 61 and the MACD at +35, confirming a bullish trend.
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On the intraday charts, the index is sustaining above both the 20-HMA at 25,029 and the 40-HEMA at 24,948, reflecting strong underlying strength. The hourly RSI at 72 is in the overbought zone but signals robust momentum, while the hourly MACD at +68 reinforces the intraday bullish bias.
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The derivatives setup further strengthens the bullish outlook. Total Put open interest at 21.33 crore stands higher than Call open interest at 16.06 crore, leaving a positive differential of 5.26 crore. The change in OI also reflects strong Put writing, with Put OI rising by 4.52 crore compared to a 1.54 crore addition in Call OI, creating a net positive differential of 2.98 crore. On the strike front, the heaviest Call OI is positioned at 26,000, suggesting limited upside barriers in the immediate term, while the maximum Call OI addition at 25,150 points to a near-term resistance zone. On the Put side, both the maximum OI and highest additions are concentrated at 25,000–25,100, making this level the most critical support base.
Overall, the technical and derivatives structure of the Nifty remains bullish. Sustaining above 25,000 opens the path for higher levels, with immediate resistance at 25,150–25,300 and a further upside target towards the psychological 25,500 mark. On the downside, 25,000 remains the make-or-break level, while below that, the 24,827–24,811 zone will act as strong support. With both daily and hourly momentum aligned positively and option data showing aggressive Put writing, dips are likely to attract strong buying interest.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
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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.
