The Nifty 50 edged higher by 32.15 points or 0.13% to settle at 24,773.15, while the BSE Sensex added 76.54 points or 0.09%, ending at 80,787.30. The Bank Nifty too moved in a choppy range, finally closing with a modest gain of 72.35 points or 0.13% at 54,186.90, reflecting cautious accumulation in financials.
Top three stocks to buy today, 9 September, as recommended by Ankush Bajaj:
Buy: Ashok Leyland Ltd — Current Price: ₹137.30
Why it’s recommended: Ashok Leyland shows renewed strength after recent consolidation. The 14-day RSI is at approximately 73.3, indicating firm bullish momentum. The MACD has turned positive, suggesting a shift toward trend buildup. While ADX data wasn’t available, the MACD and RSI readings point to constructive technical conditions daily, backed by a strong upmove and rising buying interest.
Key metrics:
Pattern: Price bouncing back with breakout potential
RSI (14-day): ~73.3 — sustained bullish strength
MACD: Positive — indicating upward momentum
Technical view: Bullish setup shows encouraging signs, with scope to rally toward ₹145 if support holds and momentum continues.
Risk factors:
-Heavy cyclicality is tied to commercial vehicle cycles and macroeconomic demand.
-Input cost volatility (especially steel and fuel) can weigh on margins.
-Elevated valuations may invite profit-taking if broader sentiment cools.
Buy at: ₹137.30
Target price: ₹145
Stop loss: ₹133.50
Buy: Kaynes Technology India Ltd — Current Price: ₹7,041.50
Why it’s recommended: Kaynes Technology has been in a strong uptrend, consolidating near lifetime highs while showing resilience against broader market volatility. The 14-day RSI is around 63, reflecting healthy momentum without being overbought. The MACD remains positive, supporting the bullish setup. ADX at 24 indicates that the trend strength is firm and building. With the stock holding above its short-term moving averages, the technical structure suggests continuation toward higher levels.
Key metrics:
Pattern: Ongoing uptrend with consolidation near highs
RSI (14-day): ~63 — steady bullish momentum
MACD: Positive — trend continuation signal
ADX: ~24 — confirming trend strength
Technical view: Sustaining above ₹6,957 (stop-loss zone) sets the stage for upside towards ₹7,200.
Risk factors:
-Valuations remain stretched after a sharp multi-month rally.
-Vulnerable to order delays or slowdown in electronics outsourcing demand.
-High sensitivity to global semiconductor cycle and supply chain risks.
Buy at: ₹7,041.50
Target price: ₹7,200
Stop loss: ₹6,957
Buy: Muthoot Finance Ltd — Current Price: ₹2,900.90
Why it’s recommended: Muthoot Finance has shown signs of strength as gold prices remain elevated, supporting its lending business. On the technical front, the 14-day RSI stands at 61, indicating positive momentum. The MACD has given a bullish crossover, suggesting improving trend strength. ADX at 21 shows an emerging trend phase that could accelerate if volumes sustain. With the stock trading comfortably above its near-term support levels, the structure favours a short-term upmove.
Key metrics:
Pattern: Higher base formation with momentum pickup
RSI (14-day): ~61 — bullish bias.
MACD: Bullish crossover — confirming trend improvement
ADX: ~21 — indicating developing trend strength
Technical view: Holding above ₹2,875 supports an upward move toward ₹2,950
Risk factors:
-Business is exposed to fluctuations in gold prices and regulatory changes.
-Credit risk remains elevated in case of adverse borrower behaviour during gold price corrections.
-Competition in NBFC lending space may cap margin expansion.
Buy at: ₹2,900.90
Target price: ₹2,950
Stop loss: ₹2,875
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
Suven Life Sciences Ltd (Cmp 233.36)
SUVEN: Buy above 234 and dips to ₹215 | Stop ₹210 | Target ₹255-265
Why it’s recommended: SUVEN has recently been in a state of sharp decline, and the recent recovery indicates that the decline is now receding. The last two quarters have not been encouraging, but the rebound from lower levels that are emerging indicates that the trends can showcase some robustness. A positive long body candle from supports clearly highlights the intent, and the improving scenario will now push the trends towards a rebound. A fresh uptick in momentum is encouraging.
Key metrics:
P/E: 141.05
52-week high: ₹299.99
Volume: 57.39K
Technical analysis: Support at ₹200 | Resistance at ₹300.
Risk factors: Regulatory and quality risks, raw material dependency, competition, legal issues, and potential disruptions in manufacturing and R&D.
Buy: above 234 and dips to ₹215.
Target price: ₹255-265 in 1 month.
Stop loss: ₹210.
JM Financial Ltd (Cmp 192.24)
JMFINANCIL: Buy above ₹192 and dips to ₹178 | Stop ₹175 | Target ₹215-220
Why it’s recommended: JM Financial is an integrated and diversified financial services group based in Mumbai with a strong presence across India. The last few days, the prices have been consolidating and the strong push above the value area resistance around 180 augurs well for the prices. As momentum is also providing a favourable tailwind, we can consider some bullish prospects.
Key metrics:
P/E: 28.74
52-week high: ₹199.80
Volume: 8.07M
Technical analysis: Support at ₹169 | resistance at ₹225.
Risk factors: Industry competition, market volatility, and elongated operating tailwind.
Buy: above ₹192 and dips to ₹178.
Target price: ₹215-220 in 1 month.
Stop loss: ₹175.
Asahi India Glass Ltd (Cmp 834.30)
ASAHIINDIA: Buy above 835 on dips to ₹810 | Stop ₹795 | Target ₹905-925
Why it’s recommended: Asahi India Glass Ltd (AIS) is a prominent integrated glass solutions company in India. It holds a strong position in both the automotive and architectural glass segments, offering a wide array of products and services. The momentum indicator clearly says that the trends are establishing themselves now, with the prices moving above the cloud. Volumes are also building up, and this can be a good trigger in the coming days.
Key metrics:
P/E: 55.46
52-week high: ₹901
Volume: 102.55K
Technical analysis: Support at ₹760 | Resistance at ₹950.
Risk factors: Potential breaches of safety norms and contract terms, Non-compliance with safety norms and contract terms.
Buy: above ₹835 and dips to ₹810
Target price: ₹905-925 in 1 month.
Stop loss: ₹795.
Two stock recommendations by MarketSmith India for 9 September
Buy: Swaraj Engines Ltd (current price: ₹4,408)
Why it’s recommended: High profitability and financial strength, strategic OEM partner and market position, operational efficiency and scalable model, favourable agrarian demand tailwinds.
Key metrics: P/E: 29.46; 52-week high: ₹4,720; volume: ₹35.55 crore
Technical analysis: Reclaimed its 100-DMA
Risk factors: Volatility linked to monsoon & rural economy, limited operating leverage flexibility, client concentration risk, intense competition
Buy: ₹4,408-4,465
Target price: ₹5,050 in two to three months
Stop loss: ₹4,090
Buy: Sarda Energy & Minerals Limited (current price: ₹576)
Why it’s recommended: Strong vertical integration across mining, metals & power, record profitability margins, and strong earnings growth
Key metrics: P/E: 22.05; 52-week high: ₹620; volume: ₹61.88 crore
Technical analysis: 21-DMA retake
Risk factors: Rising debt & interest cost pressures, cyclicality in steel & allied businesses
Buy at: ₹570-580
Target price: ₹670 in two to three months
Stop loss: ₹530
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O’Neil India Pvt. Ltd. (Sebi-registered Research Analyst Registration No.: INH000015543)
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 guarantee 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.
