The Nifty Bank index gained 712 points (1.3%) to 55,348, aided by the Reserve Bank of India’s policy outcome, where the central bank held the repo rate steady at 5.50% but lifted its FY26 GDP growth forecast to 6.8% and lowered its CPI inflation projection to 2.6%. The recovery was supported by renewed investor confidence, short-covering, and optimism over stronger credit flow and competitiveness from the RBI’s regulatory proposals.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
APLAPOLLO (Cmp ₹1,731.10)
Why it’s recommended: APL Apollo is an Indian company and India’s largest producer of structural steel tubes, offering a wide range of products, including hollow sections, galvanised and MS black pipes. Based on the last few weeks, the slow but hesitant upward traction has managed to move the prices above the clouds. We can observe that the strong upside, combined with a strong momentum play, suggests a strong possibility of more upward traction.
Key metrics:
P/E: 133.36,
52-week high: ₹1,935,
Volume: 1.04M.
Technical analysis: Support at ₹1,650, resistance at ₹1,935.
Risk factors: Changes in RBI regulations affecting capital requirements, as well as social risks related to data security and customer privacy, remain vulnerabilities.
Buy at: Above ₹1,735 and dips to ₹1,690.
Target price: ₹1,855-1,875 in 1 month.
Stop loss: ₹1,670.
FORTIS (Cmp ₹989.65)
Why it’s recommended: Fortis Healthcare is a leading integrated healthcare provider in India, with a network of hospitals, diagnostics, and day-care speciality facilities. The charts show constant pullback into support zones of the TS & KS Bands, which are helping the prices stage a strong move to the upside. A long-body candle that has been formed on every dip is igniting some bullish enthusiasm. A positive outlook has emerged as prices demonstrate a strong upward trend. Can look to go long.
Key metrics:
P/E: 840.54
52-week high: ₹982.50
Volume: 2.57M.
Technical analysis: Support at ₹900, resistance at ₹1,200.
Risk factors: Economic slowdowns, a high doctor attrition rate, the potential for unplanned capital expenditure weakening its balance sheet, ongoing litigation and regulatory risks.
Buy at: Above ₹990 and dips to ₹955.
Target price: ₹1,090-1,125 in 1 month.
Stop loss: ₹940.
UNOMINDA (Cmp ₹1,324.40)
Why it’s recommended: UNO Minda Ltd. is a leading global manufacturer and supplier of innovative automotive components and systems. After consolidating for a while, the long-body green candle is seen reviving from the neutral zone, which indicates a strong push to the upside. With the long body candle being formed and the RSI moving above 60, we can examine how this counter shapes over the next few days. Consider going long.
Key metrics:
P/E: 86.32,
52-week high: ₹1348.75,
Volume: 774.98K.
Technical analysis: Support at ₹1260, resistance at ₹1500.
Risk factors: losing market share, price fluctuations and supply shortages.
Buy at: Above ₹1,325 and dips to ₹1,300.
Target price: ₹1,420-1,460 in 1 month.
Stop loss: ₹1,290.
Two stock recommendations for today by MarketSmith India
Buy: Ami Organics Ltd (current price: ₹1,380)
Why it’s recommended: Strong R&D & innovation capability, Diversified product portfolio, Export / global customer base diversification, Expansion into new growth verticals
Key metrics: P/E: 56.86, 52-week high: ₹ 2,644, volume: ₹ 26.88 crore
Technical analysis: Reclaimed 50 DMA
Risk factors: Volatility / fluctuation in raw material costs, Foreign exchange risk, Execution risk in ongoing capex, Regulatory / environmental / compliance risk
Buy: ₹ 1,370-1,400
Target price: ₹1,580 in two to three months
Stop loss: ₹1,288
Buy: Housing & Urban Development Corporation Limited (current price: ₹232.50)
Why it’s recommended: Strategic Role in Urban & Social Housing Programs, Expanding AUM via Infrastructure Finance & NBFC-IFC Status
Key metrics: P/E: 16.09; 52-week high: ₹354; volume: ₹400 crore
Technical analysis: Breakout restest
Risk factors: Concentration risk & exposure to state finances, modest yield & thin margins
Buy at: ₹228-234
Target price: ₹265 in two to three months
Stop loss: ₹ 218
Ankush Bajaj’s top three stock picks for 3 October
Buy: Shriram Finance Ltd — Current Price: ₹648.70
Why it’s recommended: Shriram Finance is sustaining above support zones with positive momentum. The daily RSI at 57.8 signals steady bullish momentum, while the MACD at +2.2 confirms a positive crossover. The ADX at 35.7 highlights strong underlying trend strength. Price action above ₹640 maintains a constructive technical setup with potential for further upside.
Key metrics:
RSI (14-day): 57.8 — stable bullish momentum
MACD (12,26): +2.2 — positive crossover
ADX (14): 35.7 — strong trend strength
Technical view: Sustaining above ₹640 keeps the bullish bias intact, opening the path toward ₹664.
Risk factors:
-Exposure to the credit cycle and NBFC sector regulations
-Asset quality deterioration could weigh on valuations
Buy at: ₹648.70
Stop loss: ₹640
Target price: ₹664
Buy: L&T Finance Ltd — Current Price: ₹258.60
Why it’s recommended: L&T Finance is consolidating near support levels, offering a potential risk-reward opportunity. The RSI at 42.3 reflects neutral momentum, while the MACD at -0.66 shows early signs of weakness but flattening. The ADX at 24.9 suggests a trend that is developing and could strengthen if the price sustains above key levels.
Key metrics:
RSI (14-day): 42.3 — neutral zone
MACD (12,26): –0.66 — showing early weakness
ADX (14): 24.9 — trend in early buildup
Technical view: Sustaining above ₹251 will be crucial to validate strength, with room for a rebound toward ₹272.
Risk factors:
-Sensitive to interest rate movements
-Higher credit risks in lending portfolios
Buy at: ₹258.60
Stop loss: ₹251
Target price: ₹272
Buy: Muthoot Finance Ltd — Current Price: ₹3,144.50
Why it’s recommended: Muthoot Finance is trading near highs with robust momentum. The RSI at 71.4 indicates strong bullish momentum, while the MACD at +33.4 reinforces positive trend strength. The ADX at 41.8 signals a very strong underlying trend. Supported by higher gold prices, the stock’s structure favours further upside.
Key metrics:
RSI (14-day): 71.4 — strong bullish momentum
MACD (12,26): +33.4 — trend continuation
ADX (14): 41.8 — very strong trend
Technical view: Sustaining above ₹3,116 keeps the setup bullish, with potential to move toward ₹3,198.
Risk factors:
-Vulnerability to gold price volatility
-Regulatory risks in NBFC lending
Buy at: ₹3,144.50
Stop loss: ₹3,116
Target price: ₹3,198
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.
