The BSE Sensex fell 119 points to 81,786 and the Nifty 50 declined 45 points to 25,069, despite opening higher and holding key support levels during the day. Meanwhile, midcap stocks showed resilience, with the Nifty Midcap 150 continuing to gain amid valuation concerns, prompting investors to balance optimism with caution by focusing on fundamentals, governance, and sector momentum.
Stock recommendations by MarketSmith India for 16 September
Buy: Tata Consumer Products (current price: ₹1,103)
Why it is recommended: Strong brand portfolio & market presence, diversification of product categories, growing domestic consumer market, and sustainability & ESG focus.
Key metrics: P/E: 77.97, 52-week high: ₹1,234.30, volume: ₹14.54 crore
Technical analysis: Reclaimed 50-DMA
Risk factors: Raw material/commodity price volatility, margin pressure & inflation, regulatory, trade policy risks, and climate & sustainability risks.
Buy at: ₹1,095–1,115
Target price: ₹1,260 in two to three months
Stop loss: ₹1,030
Buy: Asahi India Glass (current price: ₹893)
Why it is recommended: Strong market position & product mix expansion, revenue growth supported by industry tailwinds.
Key metrics: P/E: 53.25; 52-week high: ₹900; volume: ₹46.35 crore
Technical analysis: horizontal trendline breakout
Risk factors: Profitability pressure from rising inputs & float glass price softness
Buy at: ₹885–900
Target price: ₹1,000 in two to three months
Stop loss: ₹845
Stocks to trade as recommended by Raja Venkatraman of NeoTrader
AEGISLOG (Cmp RS 758.90)
AEGISLOG: Buy above 760 and dips to ₹730, stop ₹720 target ₹820-840
Why it’s recommended: A strong patronage from the brokers ensured that a strong volume was generated on Monday despite dull market conditions. However, the recent turnaround in the logistics sector has helped the prices stabilise in the recent quarter. The strong long body bullish candle seen last week augurs well for the prices. This has led to an improvement in the sentiment. With prices holding firm we can consider going long.
Key metrics:
P/E: 61.32,
52-week high: ₹262.99,
Volume: 4.88M.
Technical analysis: Support at ₹690, resistance at ₹850.
Risk factors: Debt management, lumpy revenue, market volatility and cyberattack and regulatory headwinds.
Buy above: 760 and dips to ₹730.
Target price: ₹820-840 in 1 month.
Stop loss: ₹720.
DOMS (Cmp ₹2637.20)
DOMS: Buy above 2640 and dips to ₹2570, stop ₹2550 target ₹2900-2995
Why it’s recommended: DOMS move over the last few days show that after some muted Q1 numbers, a considerable jump indicates that the trends after being under pressure are now recovering. However, with the nature of the prices seen in the last few days we can comprehend that the newsflow has already been prices in. The volatile moves seen in the last 3 months are now seen giving up indicating a possibility of some upward bounce as a rounding pattern is seen forming with volumes. Can look to go long.
Key metrics:
P/E: 81.57,
52-week high: ₹935
Volume: 75.50K
Technical analysis: Support at ₹2380, resistance at ₹2980.
Risk factors: Product concentration, heavy reliance on its traditional distribution network, volatility in raw material prices, and stiff competition
Buy at: above 2640 and dips to ₹2570.
Target price: ₹2900-2995 in 1 month.
Stop loss: ₹2550.
INOXINDIA (Cmp 1221.50)
INOXINDIA: Buy above 1225 and dips to ₹1200, stop ₹1180 target ₹1350-1400
Why it’s recommended: INOX India Limited (INOXCVA) is an Indian multinational company specializing in the manufacture of cryogenic equipment and systems. The counter has been consolidating for a while steadily moving higher forming higher high and higher lows holding the TS & KS Bands for the past few days. After a brief decline the stocks managed to gather support within the bands produce a turnaround. Look to buy.
Key metrics:
P/E: 32.32,
52-week high: ₹1289,
Volume: 304.20K.
Technical analysis: Support at ₹225, resistance at ₹295.
Risk factors: Equipment failure, industrial accidents, and natural disasters, working capital.
Buy at: above 1225 and dips to ₹1200
Target price: ₹1350-1400 in 1 month.
Stop loss: ₹1180.
Top 3 stock recommendations by Ankush Bajaj for 16 September
Buy: L&T Finance Ltd — Current Price: ₹237.10
Why it’s recommended: L&T Finance is displaying strong upward momentum with the daily RSI at 74, firmly in bullish territory. The MACD is positive at 7.5, confirming trend continuation, while the ADX at 39 highlights solid underlying trend strength. The stock has been making higher tops and higher bottoms, supported by healthy volumes, and remains well-positioned to extend its rally in the near term.
Key metrics:
Pattern: Momentum continuation above recent breakout levels
RSI (14-day): 74 — overbought but sustaining bullish momentum
MACD: +7.5 — positive, confirming trend
ADX: 39 — strong trend strength
Technical view: Sustaining above ₹235 strengthens the setup for a move toward ₹242.
Risk factors: RSI in overbought territory could trigger profit-taking if momentum stalls.
Sensitive to NBFC sector trends and interest rate outlook.
Volatility possible given the sharp recent run-up.
Buy at: ₹237.10
Target price: ₹242
Stop loss: ₹235
Buy: UNO Minda Ltd — Current Price: ₹1,301.50
Why it’s recommended: UNO Minda is maintaining strong bullish momentum after consolidating near recent highs. The daily RSI stands at 64, reflecting sustained buying interest without being in overbought territory. The MACD is positive at 39, confirming ongoing upward momentum, while the ADX at 38 indicates robust trend strength. Price action shows the stock holding firmly above near-term support zones, with momentum and volumes supporting further upside.
Key metrics:
Pattern: Continuation move within a strong uptrend
RSI (14-day): 64 — steady bullish bias
MACD: +39 — positive, signaling trend continuation
ADX: 38 — strong trend strength
Technical view: Sustaining above ₹1,286 will keep the structure constructive for a move toward ₹1,335.
Risk factors: Elevated valuations could trigger profit-taking in case of market weakness.
Auto ancillary sector is cyclical; demand slowdown may impact momentum.
Short-term volatility possible after sharp moves.
Buy at: ₹1,301.50
Target price: ₹1,335
Stop loss: ₹1,286
Buy: Amber Enterprises Ltd — Current Price: ₹8,080
Why it’s recommended: Amber Enterprises is displaying a steady bullish setup after sustaining above key support zones. The daily RSI at 64 reflects healthy momentum, while the MACD at +154 highlights strong ongoing trend strength. The ADX at 17 indicates that while the stock is trending higher, the trend is still in its early stages and may strengthen further. Price action suggests buyers are active on dips, supporting the case for near-term upside.
Key metrics:
Pattern: Momentum continuation within ongoing uptrend
RSI (14-day): 64 — steady bullish momentum
MACD: +154 — strong positive reading, confirming trend
ADX: 17 — trend still developing, scope for acceleration
Technical view: Holding above ₹7,999 will keep the setup constructive for an upside move toward ₹8,245.
Risk factors: ADX shows trend is not fully matured; momentum could fade if volumes don’t sustain.
Vulnerable to volatility in input costs (AC/consumer durables sector).
Valuations are on the higher side; prone to profit-taking in weak markets.
Buy at: ₹8,080
Target price: ₹8,245
Stop loss: ₹7,999
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 IndiaPvt. Ltd. Sebi 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.
