Top Stock Recommendations: Nifty Outlook for the Week Starting September 15
According to Sudeep Shah, Head of Technical Research and Derivatives at SBI Securities, investors should consider Mazagon Dock Shipbuilders Ltd and Bajaj Finserv as top stock picks for the week starting September 15, 2025. The Nifty index has shown positive momentum, closing higher for two consecutive sessions, while the Bank Nifty is also attempting a recovery after recent declines. Shah’s insights provide a detailed analysis of market trends and stock recommendations for investors looking to navigate the current landscape.
Nifty Index Performance
The Nifty index has recently demonstrated a strong recovery, ending the week on a positive note for the second consecutive session. Over the past two weeks, the index has rebounded nearly 700 points, achieving its highest weekly close in eight weeks. This upward movement signals a shift in market sentiment and technical strength. Currently, the Nifty is approaching a breakout from a Symmetrical Triangle pattern, which often precedes significant directional moves. The index is trading above both its short-term and long-term moving averages, which are beginning to trend upward, indicating a strengthening bullish trend.
Momentum indicators are also showing favorable signs. The daily Relative Strength Index (RSI) has surpassed the 60 mark for the first time since July 2025, reflecting increasing strength in the underlying trend. Additionally, the Moving Average Convergence Divergence (MACD) remains in buy mode, with a rising histogram suggesting a pickup in upward momentum. Market breadth has improved, with 82% of Nifty constituents trading above their 20-day Exponential Moving Average (EMA) and 76% above their 50-day EMA. The 25150–25200 zone is identified as a key resistance level, while the 24950–24900 zone is expected to provide support in case of a pullback.
Bank Nifty Outlook
The Bank Nifty index has extended its pullback rally for the second week, indicating a short-term recovery following recent declines. From a recent low of 53561, the index has bounced back by over 1200 points, reflecting a gradual improvement in market sentiment. However, it continues to trade below its 50-day and 100-day EMAs, suggesting that the broader trend has not yet confirmed a reversal. A decisive close above these moving averages will be crucial for validating a sustained uptrend.
On the momentum front, the daily RSI remains in a sideways phase but is gradually inching higher, indicating a subtle build-up in strength. A breakout above the 60 mark could further reinforce bullish momentum. Looking ahead, the 55100–55200 zone will serve as immediate resistance for the index. A sustainable move above 55200 could pave the way for an extended rally toward 56000. Conversely, the 54400–54300 zone is anticipated to offer crucial support in the event of a short-term pullback.
Stock Recommendations
Sudeep Shah recommends accumulating shares of Mazagon Dock Shipbuilders Ltd, which has recently broken out from a Falling Wedge pattern on the daily chart. This breakout, supported by strong volume activity, indicates a bullish signal. The stock has moved above both its short-term and long-term moving averages, which are trending higher. The RSI has climbed above 60 for the first time since May 30, suggesting strengthening momentum. Investors are advised to accumulate the stock in the range of ₹2925–₹2935, with a stop-loss set at ₹2840. The stock is projected to test ₹3140 in the short term.
Bajaj Finserv Ltd is another stock recommended for accumulation. The stock recently achieved a horizontal trendline breakout on the daily chart, supported by a significant surge in trading volumes. A large bullish candle formed on the breakout day reinforces the strength of this move. The RSI is in bullish territory and rising, while the ADX line is also trending upward, indicating a robust underlying trend. Investors should consider accumulating shares in the range of ₹2080–₹2090, with a stop-loss at ₹2020. The stock has the potential to rally towards ₹2230 in the near term.
(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of Observervoice.)
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