Three stocks to buy today: Ankush Bajaj's top recommendations for 9 October

The Sensex ended 153 points, or 0.19%, lower at 81,773.66, while the Nifty 50 closed with a loss of 62 points, or 0.25 per cent, at 25,046.15. The BSE Midcap and Smallcap indices underperformed, falling 0.74% and 0.42%, respectively.

Against this backdrop, market expert Ankush Bajaj has released his top metal stock picks for investors seeking opportunities today, 9 October. His analysis provides a clear roadmap for navigating the current market landscape with confidence.

Top 3 stock picks by Ankush Bajaj for 9 October

Buy: IIFL Finance Ltd — Current Price: ₹489.45

Why it’s recommended: IIFL Finance is displaying renewed strength after a period of consolidation, with price action supported by improving momentum indicators. The daily RSI at 63.8 reflects bullish sentiment and steady upward bias. The MACD at +3.6 confirms a positive crossover, reinforcing trend continuation, while the ADX at 37.2 indicates that the trend is strengthening steadily. The stock has reclaimed key moving averages and is positioned for a potential breakout above the ₹500 level.

Key metrics: RSI (14-day): 63.8 — bullish momentum intact

MACD (12,26): +3.6 — positive crossover, confirming strength

ADX (14): 37.2 — strong trend building

Technical view: Sustaining above ₹483 will maintain the bullish structure, opening upside potential toward ₹503.

Risk factors: Sensitive to changes in interest rate outlook and NBFC liquidity conditions.

Broader financial sector volatility could influence short-term price action.

Buy at: ₹489.45

Stop loss: ₹483.00

Target price: ₹503.00

Buy: Fortis Healthcare Ltd — Current Price: ₹1,055.35

Why it’s recommended: Fortis Healthcare continues to exhibit strong price behaviour with momentum firmly on the upside. The RSI at 68.4 signals healthy bullish strength, while the MACD at +12.7 supports a positive bias with continued upward momentum. The ADX at 31.5 indicates an ongoing strengthening trend, suggesting follow-through buying could push prices higher. The stock has maintained its upward channel and looks poised for a breakout toward the ₹1,095 zone.

Key metrics: RSI (14-day): 68.4 — bullish and strengthening

MACD (12,26): +12.7 — positive alignment, confirming trend continuation

ADX (14): 31.5 — trend gaining strength

Technical view: Sustaining above ₹1,035 keeps the bullish bias intact, paving the way for a move toward ₹1,095.

Risk factors: Healthcare policy changes and pricing regulations may impact margins.

Defensive sector rotation could limit near-term outperformance.

Buy at: ₹1,055.35

Stop loss: ₹1,035.00

Target price: ₹1,095.00

Buy: Bharat Petroleum Corp. Ltd (BPCL) — Current Price: ₹345.10

Why it’s recommended: BPCL is showing renewed buying interest after consolidating near support levels. The RSI at 60.9 indicates stable bullish momentum, while the MACD at +2.1 confirms trend continuation with a positive bias. The ADX at 39.4 reflects strong underlying trend strength, suggesting room for further upside. The stock’s technical setup points to a possible continuation move toward ₹356, with solid sectoral support from energy and refining plays.

Key metrics: RSI (14-day): 60.9 — healthy bullish momentum

MACD (12,26): +2.1 — positive crossover, trend intact

ADX (14): 39.4 — strong trend phase

Technical view: Sustaining above ₹339 will keep the bullish momentum intact, opening scope for a move toward ₹356

Risk factors: Crude price fluctuations may affect refining margins.

Policy changes in fuel pricing and subsidy structures can impact performance.

Buy at: ₹345.10

Stop loss: ₹339.00

Target price: ₹356.00

How the market performed on Wednesday

On Thursday, October 09, 2025, Indian markets spent the entire session moving within a narrow range, reflecting indecisiveness among traders after recent volatility. The indices struggled to find clear direction and eventually slipped into the red as profit-booking emerged in the latter half of the day. Despite multiple recovery attempts, the broader sentiment remained cautious ahead of key global cues.

The Nifty 50 declined 62.15 points or 0.25% to close at 25,046.15, while the Sensex fell 153.09 points or 0.19% to settle at 81,773.66. The Nifty Bank index also lost 221.10 points or 0.39% to end at 56,018.25.

Sectoral performance remained muted with mixed trends across the board. Realty was the only sector that managed to end marginally higher, up 0.06%. On the other hand, FMCG slipped 0.53%, PSU banks eased 0.41%, and metals weakened slightly by 0.28%, keeping overall momentum subdued.

In stock-specific moves, Titan gained 4.31%, Infosys rose 2.50%, and TCS advanced 1.80%, offering some cushion to the indices. However, Tata Motors dropped 2.36%, M&M slipped 1.90%, and Jio Finance eased 1.69%, adding pressure and capping any meaningful recovery attempt.

Nifty Technical Outlook – 9 October

The Nifty 50 is now trading comfortably near its key short-term averages, with the 20-day moving average placed at 25,007 and the 40-day exponential moving average at 24,914, both acting as firm support zones.

On the daily chart, the RSI has strengthened to 55, indicating improving positive momentum, while the MACD at –3 is flattening out and is on the verge of a bullish crossover, suggesting that downward pressure has largely eased.

A major technical development is visible on the hourly chart, where the 20-hour moving average at 24,894 has crossed above the 40-hour moving average at 24,887. This positive crossover signals a potential continuation of the uptrend.

The hourly RSI has jumped to 71, confirming strong buying momentum, while the hourly MACD has turned positive at +77, reinforcing the short-term bullish bias. The alignment of moving averages, supported by improving momentum indicators, suggests that the index is preparing for a move beyond the 25,000–25,100 resistance band.

The derivatives setup also paints a bullish picture. Total Put open interest stands at 24.06 crore, significantly higher than Call open interest at 15.86 crore, resulting in a positive differential of +8.21 crore. The day’s OI change further supports the bullish case, with Put OI rising by 3.90 crore compared to a decline of 83.78 lakh in Call OI, showing that traders are aggressively adding long positions through Put writing. The maximum Put OI and additions are both concentrated at the 25,000 strike, confirming this as the immediate support base.

On the other hand, the 25,100 and 25,200 strikes hold the highest Call OI, marking these levels as the next resistance zones. Notably, Call unwinding at higher strikes suggests that short covering may accelerate if the index sustains above the 25,000 mark.

Overall, the Nifty’s short-term structure has turned decisively bullish. Sustaining above 24,900–25,000 will likely open the path toward 25,150–25,250, with the possibility of further upside toward 25,400 in the near term. On the downside, immediate support lies at 24,850, followed by a stronger base near 24,750. As long as these levels hold, the broader bias remains upward, and any intraday dips are expected to attract renewed buying interest.

With the 20-hour moving average crossing above the 40-hour and derivatives positioning turning positive, the market is showing signs of strength and may be gearing up for a sustained breakout above the 25,000 mark.

Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. 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.