Three stocks to buy today: Ankush Bajaj's top recommendations for 23 September
Market expert Ankush Bajaj recommends three stocks to buy on 23 September. Discover his exclusive picks and analysis to inform your investment strategy.
The domestic benchmark indices Sensex and Nifty kicked off the week on a tepid note, as the selloff in IT stocks amid the Trump administration's directive to impose $100,000 fee for new H-1B worker visas. The Nifty 50 index lost 0.49% or 125 points to end at 25,202, while its BSE counterpart Sensex shed 0.56% or 466 points to settle at 82,160.
Top Three Stock Picks by Ankush Bajaj for 23 September
Buy: Bharat Electronics Ltd (BEL) — Current Price: ₹406.40
- Why it’s recommended:BEL is consolidating with signs of trend recovery. The daily RSI is at ~47, reflecting a neutral-to-weak momentum phase but showing early signs of revival. The MACD has turned marginally positive at +0.55, indicating the beginning of a possible upmove, while the ADX at ~24.5 suggests the trend strength is modest and still developing. Price action around support zones makes the stock attractive for a tactical move higher, though conviction will strengthen only above short-term resistances.
- Key metrics:RSI (14-day): ~47 — neutral momentum, improving bias
MACD (12,26): +0.55 — turning positive
ADX (14): ~24.5 — modest trend strength
- Technical view: Holding above ₹401 will keep the structure constructive for a move toward ₹418.
- Risk factors:Weak RSI suggests higher risk of sideways consolidation. Defense sector orders and execution timelines may affect sentiment.
- Buy at: ₹406.40
- Target price: ₹418
- Stop loss: ₹401
Buy: Adani Ports & SEZ — Current Price: ₹1,444.00
- Why it’s recommended: Adani Ports is showing stronger momentum relative to peers. The daily RSI stands at ~59.7, sustaining in bullish territory. The MACD is firmly positive, around +10–18, confirming ongoing trend strength. ADX between 25–30 reflects that the stock is trending with healthy momentum. The overall technical structure points toward sustained upside as long as the support levels hold.
- Key metrics: RSI (14-day): ~59.7 — bullish momentum
MACD (12,26): +10–18 — positive, trend continuation
ADX (14): ~25–30 — moderate-to-strong trend strength
- Technical view: Sustaining above ₹1,424 will keep the bullish setup intact, with potential toward ₹1,485.
- Risk factors:Sensitivity to global trade flows and port volumes.
Policy/regulatory risks in logistics and infra sector.
Buy at: ₹1,444
Target price: ₹1,485
Stop loss: ₹1,424
Buy: Muthoot Finance Ltd — Current Price: ₹3,047.60
Why it’s recommended: Muthoot Finance is the strongest among the three in terms of technical momentum. The daily RSI is elevated at ~74.5, signaling overbought but firm bullish strength. MACD is sharply positive at +23.1, confirming strong upward momentum, while ADX at ~36.4 indicates a powerful and mature trend. While the setup favors near-term upside, overbought conditions mean profit-taking can’t be ruled out.
Key metrics:RSI (14-day): ~74.5 — overbought but strong bullish momentum
MACD (12,26): +23.1 — very strong positive trend
ADX (14): ~36.4 — strong trend strength
Technical view: As long as the stock sustains above ₹3,025, it can push higher toward ₹3,090.
Risk factors: Overbought RSI makes the stock prone to short-term pullbacks. Business highly exposed to fluctuations in gold prices and lending regulations.
Buy at: ₹3,047.60
Target price: ₹3,090
Stop loss: ₹3,025
Market Wrap
On Monday, September 22, 2025, Indian equities started the session with a notable gap-down, reflecting initial caution among traders. However, markets staged a steady recovery through the day, reclaiming most of the lost ground as buying interest emerged across select sectors. Despite the intraday strength, sentiment turned weak in the final hour, triggering a sharp sell-off that erased the gains and pushed benchmarks firmly lower by the close.
The NIFTY 50 slipped 124.70 points or 0.49% to close at 25,202.35, while the BSE SENSEX lost 466.26 points or 0.56% to settle at 82,159.97. The NIFTY BANK also ended lower by 174.10 points or 0.31% at 55,284.75, highlighting weakness in financial heavyweights.
Sector-wise, select cyclical pockets provided some intraday support — the energy index rose 0.69%, the metal index climbed 0.39%, and the India consumption index gained 0.24%. However, broader sentiment remained under pressure as the pharma index slipped 1.41%, the healthcare index fell 1.07%, and the FMCG sector dropped 0.47%.
In stock-specific action, Adani Enterprises surged 4.18% on strong institutional buying, while Eternal advanced 1.57% and Bajaj Finance rose 1.42%. On the flip side, Tech Mahindra slipped 3.11%, TCS dropped 3.01%, and Infosys declined 2.64%, dragging the IT space lower.
Nifty Technical Analysis – Daily & Hourly
The Nifty 50 ended the session at22,202.35, down124.70 points or 0.49%, marking a weak close as selling pressure resurfaced after the index failed to hold higher levels. The decline reflects traders’ caution near overhead resistance zones, with momentum indicators turning soft on intraday charts.
From a daily perspective, Nifty is still trading above its medium-term averages, with the20-DMA at 24,916 and the40-DEMA at 24,941 acting as key swing supports. However, the momentum picture has cooled — theRSI has slipped to 58 from recent highs, indicating a loss of strength, while theMACD remains positive at +134, keeping the larger bullish bias intact but signaling fatigue at higher zones.
On the intraday charts, the picture has weakened further. The index has slipped below the20-HMA at 25,328 and the40-HEMA at 25,251, showing intraday trend reversal. Thehourly RSI has dropped sharply to 38, and thehourly MACD, though still positive at +38, is flattening, both of which point to near-term bearish momentum.
The derivatives setup strengthens this cautious view. TotalCall OI stands significantly higher at 24.36 crore compared to Put OI of 13.92 crore, leaving a negative OI differential of –10.43 crore. The day’s OI changes also highlight heavy call writing, with Call OI rising by 6.63 crore against a decline of 0.55 crore in Put OI. ThePut-Call Ratio (PCR) at 0.57 further underlines bearish positioning. The25,500 strike holds the maximum Call OI, with aggressive additions at the25,300 strike, making these zones stiff resistance. On the Put side, the heaviest OI is at the25,200 strike, which also saw the largest additions, suggesting traders are attempting to defend this level as immediate support.
Overall view: The Nifty’s broader trend remains supported by medium-term averages, but the short-term setup has weakened with intraday momentum turning bearish and derivatives data signaling overhead supply. Immediate support is seen at25,200–25,150, and a breach below this could drag the index toward25,000–24,950. On the upside, resistance is now placed at25,300–25,350, with stronger supply at25,500. Until the index reclaims 25,300 decisively, the near-term bias remains cautious to bearish, with rallies likely to attract selling pressure.
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.
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