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Between 15 September and 18 September, 2026, Indian equities experienced a volatile but ultimately mixed week, with Nifty showing resilience while Bank Nifty remained under pressure. The week began with sharp declines on September 15, as Nifty fell 1.19% to 23,118.60 and Sensex dropped 1.04% to 74,003.82. Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman: SANSERA (Cmp 4259.90) SANSERA: Buy above ₹4265, stop ₹4065 target ₹4765 (Multiday) - Why it’s recommended:Sansera Engineering Limited is a Bengaluru-founded precision engineering company manufacturing complex components for automotive, aerospace, and defense sectors. A gradual move seen in the last few months has generated steady pullbacks into the Tenkan Sen and Kijun Sen that witnessed some buying interest develop. Also, Auto sector is seen reviving and the Engineering sector in the last month has performed well. Overall , this sector has a promising future outlook. With the Relative Strength Index after a pullback is seen crossing important thresholds, it can lead to some strong upward move in the coming weeks. Go long. - Key metrics: - P/E Ratio : 81.87, - 52-week high: ₹4300, - Volume: 287.95K - Technical analysis: Support at ₹3800, resistance at ₹4900. - Risk factors: EV Transition / Risk of ICE Obsolescence,Global Export and Geopolitical Volatility and Raw Material Price Volatility. - Buy : above ₹4265. - Stop loss: ₹4065. - Target price: ₹4765 (2 Months) CONFIPET (Cmp 91.95) CONFIPET: Buy above ₹92, stop ₹88 target ₹101 (Multiday) - Why it’s recommended:Confidence Petroleum India Limited is India's largest private sector LPG cylinder manufacturer and private LPG bottler. 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 90 holding good indicates that we can expect the upward drive to continue. - Key metrics: - P/E Ratio : 23.92, - 52-week high: ₹92.61, - Volume: 5.54M. - Technical analysis: Support at ₹85, resistance at ₹105. - Risk factors: Administered pricing mechanism (apm),capital-intensive infrastructure and financial disclosures and market transparency. - Buy : above ₹92 - Stop loss: ₹88 - Target price: ₹101 (2 Months) SUDARSCHEM (Cmp 1263.50) SUDARSCHEM: Buy above ₹1265, stop ₹1205 target ₹1385(Multiday) - Why it’s recommended:Sudarshan Chemical Industries Limited is a global color and pigment manufacturing company. Since July 2026 the stock has been reacting and taking supports at the Tenkan Sen and Kijun Sen to revive and head higher. The recent recovery with volumes signal a potential revival highlighting some fresh momentum. Strong domestic demand and higher gas prices have shifted focus on organised players. As the prices indicating a potential to move higher with a long body candle, we can now look for some positive vibes to extend. - Key metrics: - P/E: 36.64, - 52-week high: ₹1604, - Volume: 318.84K. - Technical analysis: Support at ₹1170, resistance at ₹1450. - Risk factors: Volatility in raw material & energy costs and . execution & debt payback of global acquisitions. - Buy : above ₹1265 - Stop loss: ₹1205 - Target price: ₹1385 (2 Months) Stock market recap Financials bore the brunt of the selloff, with Bank Nifty sliding 1.43% to 55,794.75, reflecting stress in the sector and bearish positioning in derivatives. Midweek sentiment remained weak, particularly on September 17, when FIIs sold equities worth ₹3,208.76 crore, keeping indices subdued. Sensex slipped marginally by 0.03% to 74,314.59, underscoring persistent caution among investors. By September 18, however, markets managed a modest recovery. Nifty closed at 23,346.40, up 0.33%, while Sensex ended flat at 74,294.96. The rebound was supported by softer crude oil prices, with Brent easing to $103.4 per barrel, which alleviated inflationary concerns and provided relief to the rupee. Positive cues from Asian markets also contributed to the uptick. Despite this, gains were capped by weakness in IT majors such as TCS (-4.33%) and Tech Mahindra (-1.82%), along with declines in Tata Group stocks including Titan (-2.11%), Tata Steel (-1.73%), and Tata Chemicals (-11.71%). On the other hand, select counters like Adani Ports, Power Grid, HDFC Bank, and Bharti Airtel provided support. Outlook for trading Overall, the week reflected a tug-of-war between bearish FII flows and supportive macro cues. While Nifty managed to hold ground and recover by Friday, Bank Nifty’s weakness underscored sectoral stress. With volatility rising and resistance levels intact, traders are likely to face choppy sessions ahead, making disciplined risk management essential. Nifty is currently trading within a descending channel, which reflects a short-term bearish bias as price continues to form lower highs and lower lows. The latest close at 23,346.40 (+0.33%) shows that the index is testing the upper boundary of this channel, along with an internal resistance line. This positioning makes the current level critical: a breakout above 23,500 could signal strength and open the path toward 23,800–24,000, while rejection here would likely drag the index back toward 23,200 or even 22,900. Momentum indicators, however, remain tepid. The oscillator shows readings of 31.76 (blue), 29.67 (red), and 15.57 (green), with only the blue line suggesting moderate strength. The divergence between price attempting a rebound and momentum staying relatively weak highlights caution. Unless momentum builds further and confirms the breakout, rallies may stall at resistance. Sustained readings above 30–35 would validate bullish price action, but any rollover in momentum while price remains capped would reinforce the bearish channel. 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 s attempting to consolidate as the trends are taking the time to discover the way forward. Derivatives data highlighted caution, with Nifty futures dropping 2.3% to 23,485.2 alongside a 14.8% rise in open interest, signaling short build-up. Bank Nifty futures fell 1.6% to 56,869.2, also showing short accumulation. Volatility spiked, as India VIX surged 15% to 12.28, indicating heightened nervousness. Options positioning suggested strong resistance around 24,000–24,500 and support near 23,000 for Nifty, while Bank Nifty was capped between 55,000–58,000. 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 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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