The Nifty Bank also lost 268.60 points, or 0.48%, to 55,458.85. Despite mid-session buying that pared early losses, selling pressure resurfaced in the latter half, leaving the broader market flat with midcap and smallcap indices little changed.
MarketSmith India’s best stock recommendations for the day:
Buy: V2 Retail Ltd (current price: ₹ 1,874)
Why it’s recommended: Strong revenue growth, improvement in profitability, aggressive expansion plans, strong margins & unit economics improving
Key metrics: P/E: 79.71, 52-week high: ₹2,097, volume: ₹15.19 crore
Technical analysis: Reclaimed its 100-DMA on above average volume
Risk factors: Execution risk on expansion, execution risk on expansion, margin pressure, intense competition, supply chain & inventory risk
Buy: ₹ 1,855–1,910
Target price: ₹ 2,150 in two to three months
Stop loss: ₹ 1,740
Buy: Tbo Tek Ltd (current price: ₹1,631)
Why it’s recommended: Strong revenue & GTV growth with margin leverage, geographic expansion & platform innovation
Key metrics: P/E: 81.11; 52-week high: ₹2,000; volume: ₹ 246.62 crore
Technical analysis: tight range breakout
Risk factors: Dependence on hotels & ancillaries and airline inventory exposure, competitive landscape & external risks
Buy at: ₹1,610–1,640
Target price: ₹1,940 in two to three months
Stop loss: ₹ 1,490
Top 3 stock recommendations by Ankush Bajaj for 22 September:
Buy: Redington Ltd — Current Price: ₹299.75
Why it’s recommended: Redington has shown a steady uptrend with bullish momentum building up. The daily RSI is sustaining in positive territory, reflecting strong underlying demand. The MACD remains above the signal line, confirming continuation of the uptrend, while ADX readings indicate improving trend strength. The stock has been consolidating near recent highs and is now poised for a fresh breakout, supported by healthy volumes and sectoral tailwinds from IT distribution and electronics demand.
Key metrics: RSI (14-day): Positive, showing bullish momentum
MACD: Positive, trend intact
ADX: Improving, trend gaining strength
Technical view: Sustaining above ₹286 strengthens the bullish setup and opens the path towards ₹325.
Risk factors:
-Dependency on global IT hardware demand cycles
-Foreign exchange fluctuations impacting margins
-Competitive pressures in the distribution business
Buy at: ₹299.75
Target price: ₹325
Stop loss: ₹286
Buy: GE Vernova T&D India Ltd — Current Price: ₹3,068.70
Why it’s recommended: GE Vernova T&D has been in a strong bullish phase, with price action supported by higher highs and higher lows. The daily RSI remains elevated, highlighting robust momentum, while the MACD is in positive territory, confirming sustained buying interest. The ADX also reflects strong trend strength, validating the ongoing uptrend. On the charts, the stock has broken above key resistances, reinforcing the bullish structure and signalling further upside.
Key metrics: RSI (14-day): Positive, strong momentum
MACD: Positive, confirming trend continuation
ADX: Strong, showing robust trend strength
Technical view: Sustaining above ₹3,030 will keep the bullish setup intact, with near-term potential to move toward ₹3,140.
Risk factors:
-High dependence on government and utility capex spending
-Order inflow volatility and project execution risks
-Global energy transition policies influencing sector demand
Buy at: ₹3,068.70
Target price: ₹3,140
Stop loss: ₹3,030
Buy: Usha Martin Ltd — Current Price: ₹426.55
Why it’s recommended: Usha Martin is sustaining strong momentum after a breakout from its recent consolidation phase. The daily RSI is comfortably placed in bullish territory, confirming positive momentum. The MACD is in buy mode, supporting further upside, while the ADX shows an emerging trend gaining strength. The stock’s price structure indicates strong support near the stop-loss zone, with scope for a move toward recent highs.
Key metrics: RSI (14-day): Positive, bullish momentum intact
MACD: Buy mode, supporting trend continuation
ADX: Positive, trend building strength
Technical view: Sustaining above ₹419 will keep the momentum intact, opening an upside target of ₹440.
Risk factors:
-Exposure to cyclical steel and wire rope demand
-Fluctuations in raw material prices
-Export dependence may expose the business to global trade risk.
Buy at: ₹426.55
Target price: ₹440
Stop loss: ₹419
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
Edelweiss Financial Services Ltd (Cmp ₹119.03)
Why it’s recommended: This counter has been trading quite resolutely and has been attempting to sustain at higher levels. The consolidation in the TS & KS region managed to arrest the recent profit booking. The strong surge seen on Friday after the clarification in the media regarding the share sale was backed by volumes, suggesting more possibility to the upside.
Key metrics:
P/E: 110.23
52-week high: ₹145.50
Volume: 13.54M
Technical analysis: Support at ₹725 | Resistance at ₹980.
Risk factors: Market conditions, company performance, and news.
Buy: Above ₹120 and dips to ₹110.
Target price: ₹135-140 in 1 month.
Stop loss: ₹105.
Kirloskar Oil Engines Ltd (Cmp ₹964.65)
Why it’s recommended: Kirloskar Engineering has been steadily forming a rounding pattern at the cloud support to attract some attention. The strong push seen on Friday, along with a combination of factors, can now trigger some potential upside in the coming days. The recent rise in momentum shown by the RSI clearly highlights the steady participation that is prompting more upside potential in this counter.
Key metrics:
P/E: 33.31
52-week high: ₹334.40
Volume: 352.03K
Technical analysis: Support at ₹890 | Resistance at ₹1,200.
Risk factors: Market fluctuations, regulatory changes, and sector-specific challenges in the financial sector.
Buy: Above ₹965 and dips to ₹925.
Target price: ₹1,125-1,150 in 1 month.
Stop loss: ₹898.
Radico Khaitan Ltd (Cmp ₹3052.50)
Why it’s recommended: Positive moves in the market saw this counter recover from cloud support around 2,800 levels. The daily chart reveals that the uptrend has now resumed. There is still enough room left at the top for this counter to surge. Steady ascent with rise in momentum makes it a good buy candidate for the coming week.
Key metrics:
P/E: 101.80
52-week high: ₹3,052.50
Volume: 539.82K.
Technical analysis: Support at ₹2,777 | Resistance at ₹3,500.
Risk factors: Challenging macroeconomic environment, margin pressure and client attrition.
Buy at: Above ₹3,050 and dips to ₹2,980.
Target price: ₹3,200-3,300 in 1 month.
Stop loss: ₹2,950.
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.
