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Stocks to buy: The Indian stock market ended last week on a weak note, extending its losing streak to five consecutive weeks—the first time in a year that the benchmarks have recorded such a run of weekly declines. The markets opened the week on a subdued note and remained under pressure for most of the trading sessions. The Sensex dropped 2.27% to end at 74,781.76, while the Nifty declined 2.09% to close at 23,398.10. Broader market indices also witnessed selling pressure, with the midcap index falling 1.40% and the smallcap index declining 0.88%. The continued weakness in the Nifty 50 has taken its year-to-date decline in 2026 to 10.50%, while the Sensex has slipped 12.24% so far this year. Nifty 50 witnessed a sharp gap-down opening at 23,270.30, falling 207 points initially, before finding a strong base around the 23,250 zone. The index touched a low of 23,231.40 and later recovered towards 23,448.10, finally closing at 23,398.10, down 79.70 points (-0.34%). Strong buying emerged from the day's lower levels, with short covering visible after the recent decline. Nifty formed a strong bullish candle, although it remained below the previous day's close. RSI stands at 27.22, indicating an oversold zone, while PCR was at 1.02. India VIX rose 4.15% to 12.28, reflecting higher volatility. “From a technical perspective, Nifty is likely to maintain a Sideways bias, with the 23,250–23,300 zone acting as the immediate support area. Resistance is placed at 23,500–23,600, and a sustained move above 23,600 could support further recovery, particularly if short covering continues. On the downside, a decisive break below 23,250 may resume the broader selling pressure. The expected trading range for the next session is 23,250–23,600. Sector-wise, Nifty IT Services, Private Bank and Media were among the key gainers, while Realty, Metal and Chemical remained the major laggards. Auto and Oil & Gas also stayed under pressure,” said Sumeet Bagadia, Executive Director at Choice Broking. Bank Nifty started the session with a sharp gap-down of around 501 points at 55,970.15 and initially declined to 55,699.45. However, the index formed a pin bar during the first hour, indicating buying interest at lower levels, followed by a strong recovery and breakout above 56,000. Bank Nifty moved close to the day's high of 56,645.85 and settled at 56,606.55, gaining 134.60 points (0.24%). The daily chart formed a strong bullish candle, but the index continues to trade below all key moving averages. RSI stands at 41.05, indicating that momentum remains cautious despite the recovery. “Looking ahead, 55,700–56,000 will remain the key support zone, while 56,900–57,000 is likely to act as the immediate resistance area. Holding above 56,000 could help sustain the recovery and allow the index to move towards the resistance zone, whereas a break below 55,700 may bring renewed selling pressure. A decisive move above 57,000 would improve the near-term structure, while the broader trend remains cautious below the key moving averages. The expected trading range for the next session is 55,700–57,000 with a Sideways bias,” Bagadia added. Sumeet Bagadia recommends five breakout shares to buy on Tuesday, 15 September: Five-Star Business Finance, AKUMS Drugs & Pharmaceuticals, Allied Blenders and Distillers, VA Tech Wabag, and Lloyds Engineering Works. 1] Five-Star Business Finance: Buy at ₹551, Target ₹616, Stop Loss ₹519 Five-Star Business Finance Ltd. is trading around 551 and is showing a constructive technical setup on the daily chart. The stock is currently trading near its rising trend line, with the 200-Day EMA also positioned around this support zone. Adding to the positive structure, the stock has recently broken out of a nine-session consolidation range and is sustaining above its 21-Day and 50-Day EMAs, indicating improving trend strength. The breakout is accompanied by rising volumes, suggesting increased participation and buying interest. Momentum indicators are also supportive, with the RSI sustaining above the 60 mark, signalling strengthening momentum. Overall, the technical structure remains positive, with the stock showing potential for further upside as long as it sustains above the key trend line and moving-average support zone. 2] AKUMS Drugs & Pharmaceuticals: Buy at ₹776, Target ₹865, Stop Loss ₹734 AKUMS Drugs & Pharmaceuticals Ltd. is trading around ₹776 and continues to exhibit a positive technical structure on the daily chart. The stock has maintained a sequence of higher highs and higher lows, reflecting sustained strength in the underlying trend. During recent declines, the 21-Day EMA has acted as a reliable support, while the presence of a rising trend line further strengthens the support base. The stock has also managed to close above the previous session’s high, accompanied by an increase in trading volume, indicating renewed buying participation. With the higher-high and higher-low formation intact, supported by the rising trend line and 21-Day EMA, the overall setup remains favourable. Sustained strength could therefore support continuation of the prevailing upward momentum. 3] Allied Blenders and Distillers: Buy at ₹632.50, Target ₹710, Stop Loss ₹599 ABDL is currently trading around ₹632.50 and is showing signs of a potential positive move after an extended consolidation phase. The stock has remained in a sideways range for nearly two months and has formed a Symmetrical Triangle, reflecting a period of price compression ahead of a possible directional breakout. Recently, the stock has sustained above and closed over its 21-Day and 50-Day EMAs, suggesting improving price strength and a better short-term trend structure. Volume activity has also expanded, with the latest volume exceeding the levels seen during the previous 15 trading sessions, pointing towards increased participation. The RSI remains above 60, further supporting the improving momentum. Overall, the combination of the Symmetrical Triangle formation, sustained EMA support, higher volume and positive RSI keeps the near-term outlook constructive, provided the stock maintains its current strength. 4] VA Tech Wabag: Buy at ₹848, Target ₹908, Stop Loss ₹818 VA TECH WABAG Ltd. is exhibiting a bullish technical formation on the daily chart, with the stock trading around ₹2,278. The stock has recently broken out of a Bullish Pennant pattern, indicating a possible continuation of the prevailing uptrend following a period of consolidation. The breakout has gained further strength from three consecutive bullish candles, reflecting sustained buying interest and improving price momentum. Volumes have also picked up alongside the breakout, adding confirmation to the move and indicating stronger market participation. The RSI is sustaining above 60, which further supports the positive momentum backdrop. Overall, the Bullish Pennant breakout, consecutive positive candles, volume expansion and firm RSI reading point towards a favourable near-term structure. Holding above the breakout zone would be important for sustaining the bullish bias and opening room for further upside. 5] Lloyds Engineering Works: Buy at ₹82.76, Target ₹91.50, Stop Loss ₹78.50 LLOYDSENGG is currently trading around 82.76 and is displaying a constructive technical setup on the weekly chart. The stock has witnessed a breakout and subsequent retest of the breakout level near 82.63, indicating that the previous resistance zone is now acting as potential support. The stock has also formed a Hammer like candlestick pattern around this key zone on the weekly chart, reflecting rejection of lower levels and renewed buying interest. Adding to the positive structure, price has taken support near its 21-Week EMA, further reinforcing the underlying trend and support base. The combination of the successful breakout retest, Hammer formation and 21-Week EMA support indicates improving technical strength. Sustained price action above the 82.63 zone could support further upside and keep the medium-term outlook constructive. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions. Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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