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Indian equities ended largely flat as bargain buying after the recent selloff was offset by global headwinds from the US Federal Reserve’s rate hike, hawkish commentary, and elevated crude prices. The Nifty 50 rose 0.23% to 23,270.6, while the Sensex slipped 0.03% to 74,314.59, after swinging higher intraday. Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman: JUBLFOOD (Cmp 480.20) - Why it’s recommended: Jubilant FoodWorks Limited is India's largest food service company, operating an extensive network of quick-service and homegrown restaurant brands across multiple countries. There has been a constant attempt at recovery and the recent pullback saw some buying interest develop. Also, FMCG sector is seen reviving and now with an upgrade by Macquaire in the last month the future outlook is promising. The news of preference shares has one again triggered some interest as the volumes have picked up suggesting more upward traction. With the Average Directional Index after a pullback and then reviving higher , it can lead to some strong upward move in the coming weeks. Go long. - Key metrics: - P/E Ratio : 129.98, - 52-week high: ₹635, - Volume: 817.23K - Technical analysis: Support at ₹450, resistance at ₹700. - Risk factors: Regulatory compliance, high debt levels, manufacturing disruptions, and foreign exchange volatility. - Buy: above ₹485. - Stop loss: ₹463. - Target price: ₹525 (2 Months) PFOCUS (Cmp 334.95) - Why it’s recommended: Prime Focus Limited (PFOCUS) is an Indian-headquartered, world-leading independent integrated media services company that provides end-to-end creative and technical services to the global media and entertainment industry. The steady upward traction the prices are moving higher forming higher lows and the strong action with volumes see on Thursday highlights some potential for upmove. A move above value area region around 310 holding good indicates that we can expect the upward drive to continue. - Key metrics: - 52-week high: ₹367, - Volume: 6.59M. - Technical analysis: Support at ₹295, resistance at ₹400. - Risk factors: Severe debt burden, extreme industry cyclicality and thin trading volume and volatility. - Buy : above ₹337 - Stop loss: ₹318 - Target price: ₹367 (2 Months) TATVA (Cmp 1709.60) - Why it’s recommended: Tatva Chintan Pharma Chem Limited (TATVA) is an integrated, India-based specialty chemical manufacturer operating as a global supplier, exporting approximately 62% of its products. Since July 2026, the stock has formed a nice rounding bottom at lower levels, forming a base from the lower levels. After a strong push, the recovery with volumes signals a potential revival, highlighting some fresh momentum. Strong domestic demand and higher gas prices have shifted the focus to organised players. As the prices indicate a potential to move higher with a long body candle, we can now look for some positive vibes to extend. - Key metrics: - P/E: 90.08, - 52-week high: ₹1838.10, - Volume: 89.93K. - Technical analysis: Support at ₹1470, resistance at ₹1950. - Risk factors: Faces key financial, operational, and macroeconomic risks that can affect its operating margins and financial stability. - Buy: above ₹1715 - Stop loss: ₹1605 - Target price: ₹1885 (2 Months) Stock market recap On 17 September, Indian equities ended largely flat as bargain buying after the recent selloff was offset by global headwinds from the U.S. Federal Reserve’s rate hike, hawkish commentary, and elevated crude prices. The spotlight was on the ₹2.3 billion IPO of the National Stock Exchange, India’s largest bourse, which opened for bidding and drew 36% subscription by mid-afternoon, making it the country’s third-largest listing ever. The Nifty 50 rose 0.23% to 23,270.6, while the Sensex slipped 0.03% to 74,314.59, after swinging higher intraday. Expiry-related volatility was contained as regulators’ proposed changes to derivatives settlement were seen as supportive. Sectoral breadth was positive, with 12 of 16 major indices advancing. Small-cap and mid-cap indices gained 0.8% and 0.9%, respectively, while autos rebounded 1% after recent weakness. Tata group stocks outperformed, with Tata Motors, Tata Steel, and Tata Investment rallying between 2.3% and 5.5% after the board of Tata Sons approved a fresh five-year term for Chairman N. Chandrasekaran. Traders noted short-covering from oversold levels, though sentiment remained cautious amid tight global monetary conditions and oil above $100 a barrel. Outlook for Trading Hesitation has been overcome and the strong resolve to move higher has met with good demand on the expiry day. As the trends begin to hold over the last few days the long body candle revival has once again assured that the trends are beginning to take shape as a steady buying participation was witnessed through the day! Trading has been daunting in the last few sessions are now back to taking support at the 7 April highs around 23100 levels. The constant gaps that are seen on the charts are indicating that the resistance around 50% Fibonacci levels of the recent fall could hold. With the bias and newsflow being bullish, the possibilities of a sustained rise have emerged. At such situation we need to remain calm and hold for any potential recovery. It would have been a wonder if one came out largely unscathed in the week. A tentative start to the week but the foundation is indicating that the trends could pick up. An attempt to rise seen in this week highlights the strong support and the rebound seen could look to extend after a strong decline seen last week. The supplies at higher level will continue to test the confidence, but the recovery that is emerging swiftly from lower levels is signalling that the highs will continue to attract demand. With strong bullish possibilities emerging we can now see that the weekly charts are beginning to show some aggressive potential to move higher. As positive cues continue to emerge, one should look at the potential to participate at every dip as the market retains the positive bias. While trends remained robust, we can observe that the current scenario is making an attempt to move out of a ranging action and a possible short covering action may emerge today. Now, we can observe that Nifty is attempting to consolidate as the trends are taking the time to discover the way forward. At the moment, the bearishness has been dragging the index lower. Until we see Nifty move below 23000 decisively the Open Interest data retains that 23600 as the next set of resistance emerging. As the ranging market continues to be in play, we need to be quick in profit-taking as the trend does not have sufficient steam to move strongly in either direction. Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. 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 guarantees 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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