Vinay Rajani of HDFC Securities suggests these stocks to buy for short-term

Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, declined on Monday, pressured by losses in the information technology sector following the introduction of a revised fee structure for new H-1B visa applications in the US, raising concerns about its effect on outsourcing and on-site project executions. This development has generated uncertainty for India's IT industry, which relies heavily on the US for business and the deployment of professionals.

The Nifty 50 experienced a decrease of 0.14%, settling at 25,292 . 50, while the BSE Sensex fell by 0.20% to 82,463.44 as of 12:20 IST. On Sunday, Prime Minister Narendra Modi emphasized in his national address that new GST reforms would take effect today.

He mentioned that the revised GST structure aims to support all citizens during the festive season by enhancing savings and making everyday products more affordable.

Despite a sluggish start, analysts indicated that technical indicators continue to show a positive outlook.

Market Views - Vinay Rajani, Senior Technical and Derivative Analyst, HDFC Securities

Nifty 50

In the week gone by, Nifty 50 found resistance at downward sloping trend line, which adjoins an all-time high(26,277) and intermediate swing high of 25,669. Nifty 50 formed “Hanging Man” candlestick pattern on 18 th Sep 2025, which usually indicates possible trend reversal. As a result of that, Nifty 50 witnessed a running correction of more than 230 points from the recent swing high of 25,448. However, the primary trend of the index has been bullish, as it has been holding above key moving averages and there has been higher top and higher bottom confirmation on the weekly charts.

Previous swing high of 25,153 could offer short term support, while far support is placed near 25,000 in the Nifty 50. Any level above 25,500 would result into bullish breakout from the downward sloping trend line and violation of bearish “hanging man” candlestick pattern on the daily chart.

Currently about 70% of the NSE500 stocks are placed above their 200 DMA, which indicates healthy breadth in the broader markets. Any level above 25,500 could push Nifty 50 towards new all-time high above 26,277 and go beyond. Traders are advised to utilize mentioned support levels to accumulate longs for the with 24,900 stoploss in the Nifty 50.

Stock Picks

Buy Aadhar Housing Finance ( ₹534) | Target ₹606| Stop-loss ₹491

Aadhar Housing Finance share price has recently registered fresh all time highs. Price breakout is accompanied with jump in volumes. Stock is placed above all key moving averages, indicating uptrend on all time frames. Daily RSI is sustaining above 50, indicating sustained uptrend for the underlying. Daily MACD is placed above its signal line. Higher top and higher bottoms on daily chart.

Buy Phoenix Mills Ltd( ₹1,648) | Target ₹1,775 | Stop-loss ₹1,510

Phoenix Mills share price has broken out from downward sloping trend line on the weekly chart. Price breakout is accompanied with jump in volumes. Stock is placed above all key moving averages, indicating uptrend on all time frames. Daily RSI is sustaining above 50, indicating sustained uptrend for the underlying. Daily MACD is placed above its signal line.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.