Top three stock picks by Ankush Bajaj for 2 September
Kaynes Technology India Ltd. (KAYNES) — current price: ₹6,600
Why it’s recommended: Kaynes has delivered a decisive breakout on the daily chart, closing firmly above its recent resistance of ₹6,520. The daily RSI stands at 66, reflecting healthy bullish momentum, while the MACD is strongly positive at 99, signaling sustained upside drive. The ADX at 15 indicates that the trend is in its early stages, leaving scope for strengthening as the rally builds. As long as the stock holds above ₹6,520 the breakout remains valid, and the setup favours continued upward movement in the near term.
Key metrics:
RSI: 66 — bullish momentum confirmed
MACD: +99 — positive, supporting continuation
ADX: 15 — trend emerging, room to strengthen
Price action: Clean breakout above ₹6,520 with strong close
Risk factors: Trend strength (ADX) is still low, meaning volatility could cause sharp swings before trend matures.
Breakout may fail if volumes do not sustain; false break risk remains if global sentiment turns risk-off.
Broader market weakness (if Nifty slips below key supports) could cap upside momentum.
Buy at: ₹6,600
Stop loss: ₹6,520
Target price: ₹6,780
Dixon Technologies (India) Ltd — current price: ₹17,582
Why it’s recommended: Dixon is showing strong technical momentum. On the daily chart, the RSI at 67 confirms bullish strength, the MACD at +246 highlights powerful upside momentum, and the ADX at 19 indicates a trend that is strengthening further. On the 45-minute chart the stock has given a rectangle breakout at ₹17,135, suggesting follow-through potential with higher targets in the short term.
Key metrics:
RSI: 67 — bullish, momentum building
MACD: +246 — strong upward drive
ADX: 19 — improving trend strength
Chart pattern: Rectangle breakout at ₹17,135, validating bullish continuation
Risk factors: Being in the higher valuation zone, the stock could face volatility on profit-taking.
ADX is still in the early strengthening phase; sharp reversals cannot be ruled out if breakout volume thins out.
Sensitive to broader market moves; weakness in Nifty could weigh on follow-through.
Buy at: ₹17,582
Stop loss: ₹17,425
Target price: ₹17,900
Eicher Motors Ltd — current price: ₹6,280
Why it’s recommended: Eicher Motors has exhibited robust strength, closing at a lifetime high in the last session. The stock has also covered the previous two red candles with strong volumes, reinforcing buyer conviction. On the daily chart, the RSI at 79 reflects strong bullish momentum, the MACD at +155 confirms powerful upside traction, and the ADX at 35 highlights a well-established trend. This alignment of indicators suggests continuation of the uptrend in the near term.
Key metrics:
RSI: 79 — extremely strong bullish momentum
MACD: +155 — sustained upside drive
ADX: 35 — strong trend strength
Price action: Closed at lifetime high; bullish engulfing move over last two red candles with volume support.
Risk factors: RSI is in the overbought zone; short-term pullbacks may occur.
At lifetime highs, the stock has limited historical resistance, but profit-taking risk is elevated.
Broader market volatility can impact momentum even in strong individual stocks.
Buy at: ₹6,280
Stop loss: ₹6,215
Target price: ₹6,410
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
Deccan Cements Ltd(current market price ₹1074.60) – Buy above ₹1075 and dips to ₹1050, stop loss ₹1040, target ₹1175-1200
Why it’s recommended: After spending lot of time in consolidation, the Deccan Cements stock corrected sharply and broke the recent supports to test the cloud support suggesting that the trends could now revive. As prices have now neared the cloud support region around 68, we can look to trade the rebound. Consider going long.
Key metrics:
P/E: 74.88,
52-week high: ₹1125,
Volume: 154.60K.
Technical analysis: Support at ₹947, resistance at ₹1200.
Risk factors: Market volatility and sector-wide fluctuations in geopolitical news could impact returns.
Buy at: Above ₹1075 and dips to ₹1050.
Target price: ₹1175-1200 in 1 month.
Stop loss: ₹1040.
Ashapura Minechem Ltd (current market price ₹542.30) – Buy above ₹543 and dips to ₹520, stop loss ₹500, target price ₹590-615
Why it’s recommended: Ashapura Minechem has found strong support and has been steadily inching higher, after witnessing profit booking for more than a month. The recent rebound from the cloud support region is targeting a revival and can be seen as an opportunity to initiate buying.
Key metrics:
P/E: 57.32,
52-week high: ₹587
Volume: 892.68K.
Technical analysis: Support at ₹475, resistance at ₹625.
Risk factors: Rising input costs, increased operational expenses, and potentially foreign exchange impacts.
Buy at: above ₹543.
Target price: ₹590-615 in 1 month.
Stop loss: ₹500.
Mold-Tek Packaging Ltd (current market price ₹813) – Buy above ₹816 and dips to ₹795, stop loss ₹780, target price ₹885-905
Why it’s recommended:Mold-Tek Packaging is a leading rigid plastic packaging manufacturing company that is witnessing some strong tailwind. The recent rise led to some small profit booking but the prices the stock has held on and is now witnessing strong support emerging from the TS & KS band, targeting a revival. As positive momentum holds firm, we can consider this as an opportunity to initiate some buying .
Key metrics:
P/E: 40.68,
52-week high: ₹892.90
Volume: 94.19K.
Technical analysis: Support at ₹720, resistance at ₹920.
Risk factors: Rising input costs, increased operational expenses, and potentially foreign exchange impacts.
Buy at: above ₹816 and dips to 795 .
Target price: ₹885-905 in 1 month.
Stop loss: ₹780.
Two stock recommendations by MarketSmith India:
Buy: Gujarat Mineral Development Corporation Ltd (current price: ₹430)
Why it’s recommended: Strong earnings and reinvestment capability, no leverage and healthy dividend, diversified mineral portfolio and integrated operations, and solid financial metrics
Key metrics: P/E: 19.26 | 52-week high: ₹472.40 | Volume: ₹275.60 crore
Technical analysis: Trending above all its key moving averages with a positive bias
Risk factors: Valuation concerns, volatile revenue and profit trends, cyclicality, and commodity dependence
Buy: ₹430
Target price: ₹485 in two to three months
Stop loss: ₹404
Buy: Amara Raja Energy and Mobility Ltd (current price: ₹1,010)
Why it’s recommended: Market leadership and trusted brands, forged for the EV transition via a giga complex
Key metrics: P/E: 23.12 | 52-week high: ₹1,776 | Volume: ₹124.68 crore
Technical analysis: Downward sloping trendline breakout
Risk factors: Commodity price sensitivity, competitive pressures and substitution threats
Buy at: ₹990-1,015
Target price: ₹1,130 in two to three months
Stop loss: ₹955
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.
