Top three stocks to buy today, 10 September, as recommended by Ankush Bajaj:
Buy: Glenmark Pharmaceuticals Ltd — Current Price: ₹2,116.30
Why it’s recommended: Glenmark is showing strong bullish momentum with the daily RSI at 71.6, reflecting sustained buying pressure. The MACD is firmly positive at +32.6, confirming upward momentum, while the ADX at 47.2 highlights a powerful trend structure. On lower timeframes, the stock has also broken out from a consolidation range, suggesting fresh continuation buying. Technical conditions remain supportive of further upside.
Key metrics:
RSI (14): 71.6 — strong bullish momentum
MACD: +32.6 — positive crossover, trend continuation
ADX: 47.2 — robust trend strength
Technical view: Momentum and breakout setup support further upside
Risk factors:
-Regulatory risks in the global pharma space
-Competitive pricing pressures,
-Profit-taking risk after sharp moves
Buy at: ₹2,116.30
Target price (1.55%): ₹2,149
Stop loss (0.8%): ₹2,099
Buy: Cummins India Ltd — Current Price: ₹4,012.00
Why it’s recommended: Cummins India continues to show resilience with the daily RSI at 68.1, reflecting bullish strength. The MACD at +28 remains positive, confirming ongoing momentum, while the ADX at 37.1 signals strong trend continuation. Intraday charts show higher-base formations, further supporting the bullish bias.
Key metrics:
RSI (14): 68.1 — bullish strength
MACD: +28 — trend continuation
ADX: 37.1 — strong trend confirmation
Technical view: Strong base formation supports another leg higher.
Risk factors:
-Exposure to industrial demand cycles and input costs
-Export-related risks tied to global markets
-Valuation-driven profit-booking risks
Buy at: ₹4,012.00
Target price (1.55%): ₹4,074
Stop loss (0.8%): ₹3,980
Buy: Eicher Motors Ltd — Current Price: ₹6,893.50
Why it’s recommended: Eicher Motors is trading near fresh highs, with RSI at 74.9, indicating strong bullish momentum. The MACD at +121 reinforces strong upside, while ADX at 44.4 confirms a robust trend. On lower timeframes, the stock is trading firmly above key averages, suggesting sustained buying strength.
Key metrics:
RSI (14): 74.9 — overbought but strong
MACD: +121 — trend intact
ADX: 44.4 — strong underlying trend
Technical view: Momentum remains in favour of bulls, with upside scope intact.
Risk factors:
-Linked to discretionary demand cycles in autos
-Volatile input and interest costs
-Premium valuations may invite profit-taking
Buy at: ₹6,893.50
Target price (1.55%): ₹6,999
Stop loss (0.8%): ₹6,838
Market recap
Sectoral performance echoed the sideways mood. Support came from select cyclicals, with the pharma index rising 0.86%, the healthcare index up 0.77%, and the service sector higher by 0.58%. On the other hand, some pockets weighed on sentiment—the realty index slipped 0.30%, the oil & gas index declined 0.30%, and the PSE sector eased 0.19%.
In stock-specific action, Infosys emerged as the top gainer with a sharp 4.85% surge, followed by Dr. Reddy, which advanced 3.50%, and Wipro, which climbed 2.81%, all benefiting from strong institutional demand. However, select heavyweights capped the overall upside, with Trent falling 1.82%, Eternal easing 1.20%, and Ultratech Cement slipping 0.73%.
Nifty technical analysis—daily and hourly
The Nifty 50 extended its gains on 9 September, closing at 24,868.60, higher by 95.45 points or 0.39%. The index moved higher for the second consecutive session, building on strength from key support levels and closing close to the upper end of the recent consolidation zone.
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From a technical perspective, the Nifty is now trading above its 20-DMA at 24,741 and approaching the 40-DEMA at 24,793, both of which act as important reference points. On the daily chart, momentum indicators are gradually improving—RSI has climbed to 53, reflecting a shift back into the positive zone, while the MACD has improved, though still negative at –27, signalling the bearish undertone is weakening.
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On the hourly chart, momentum looks far stronger: RSI has risen to 62 and MACD is firmly positive at +42, while the index has sustained above both the 20-HMA (24,797) and 40-HEMA (24,769), reinforcing the short-term bullish bias. Importantly, on intraday timeframes, the Nifty is forming a triangle pattern, and a decisive breakout above 24,950 could trigger a strong trend move toward the 25,200-25,500 zone.
On the derivatives front, the data remains supportive of a bullish view. Put OI at 200.4 million is higher than Call OI at 171.0 million, creating a positive OI differential of +29.4 million. The day’s change data further strengthens the bullish undertone: Call OI declined by 32.0 million while Put OI rose by 24.1 million, resulting in a net positive differential of +56.2 million—indicating short covering on Calls and aggressive Put writing. The highest Call OI and additions are concentrated at the 24,900 strike, cementing it as immediate resistance. On the Put side, the heaviest OI and additions are at the 24,850 strike, turning this level into a strong short-term support base.
Overall, the Nifty’s structure has improved meaningfully. The immediate support lies at 24,850-24,800, while a sustained close above 24,950 would confirm a breakout from the triangle pattern, opening the way for a strong rally toward 25,200-25,500. On the downside, if the index fails to hold above 24,800, the broader base at 24,650-24,500 will be critical to watch.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
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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.