Top 3 stock recommendations by Ankush Bajaj for 18 SeptemberBuy: Amber Enterprises Ltd — Current Price: ₹8,287.50
Why it’s recommended: Amber Enterprises is showing strong bullish momentum with a supportive structure. The daily RSI is around 68, reflecting firm buying strength. The MACD is strongly positive at +91, confirming continuation of the uptrend, while the ADX at 65 signals very strong trend strength. Price action remains supported by bullish averages, indicating the rally is well-backed technically.
Key metrics:
RSI (14-day): 68 — bullish momentum
MACD (12,26): +91 — strong positive crossover
ADX (14): 65 — strong trend strength
Technical view: Sustaining above ₹8,254 keeps the setup intact for a move toward ₹8,357
Risk factors: Stock is extended after a strong run, making it prone to profit-taking. High valuations can lead to volatility if earnings disappoint.
Buy at: ₹8,287.50
Target price: ₹8,357
Stop loss: ₹8,254
Buy: Maruti Suzuki India Ltd — Current Price: ₹15,801.00
Why it’s recommended: Maruti is sustaining at fresh highs with strong technical momentum. The daily RSI is around 80, firmly in the overbought zone, but highlighting heavy buying interest. The MACD is sharply positive at +136, confirming trend continuation, while the ADX at 63 indicates strong underlying trend strength. The setup remains bullish as long as key support is held.
Key metrics:
RSI (14-day): 80 — overbought but bullish momentum
MACD (12,26): +136 — strong positive signal
ADX (14): 63 — strong trend strength
Technical view: Holding above ₹15,760 allows room for an upmove toward ₹15,880.
Risk factors: Overbought RSI raises risk of short-term pullback.
Auto sector is vulnerable to raw material cost inflation and regulatory changes.
Buy at: ₹15,801.00
Target price: ₹15,880
Stop loss: ₹15,760
Buy: Mazagon Dock Shipbuilders Ltd — Current Price: ₹2,997.00
Why it’s recommended: Mazagon Dock is sustaining its uptrend after recent consolidations. The stock is trading close to its breakout zone and showing signs of strength near support. While RSI, MACD, and ADX values weren’t clearly available, the price structure remains positive, supported by higher-low formations and strong sector momentum in defence and shipbuilding.
Key metrics: RSI (14-day): Positive bias (data not available)
MACD (12,26): Positive crossover bias
ADX (14): Trend supportive (sector strength)
Technical view: Sustaining above ₹2,985 keeps the bullish setup intact for a move toward ₹3,022.
Risk factors: Absence of strong momentum indicators may keep moves volatile.
Defence sector order cycle can add unpredictability.
Buy at: ₹2,997.00
Target price: ₹3,022
Stop loss: ₹2,985
How the market performed on Wednesday
The Nifty 50 advanced 91.15 points or 0.36% to close at 25,330.25, while the BSE Sensex gained 313.02 points or 0.38% to settle at 82,693.71. The Bank Nifty also ended higher by 345.70 points or 0.63% at 55,493.30, indicating renewed optimism in financial majors.
Sector-wise, cyclical pockets led the uptrend — the PSU Bank index rose 2.61%, the PSE index climbed 0.74%, and the Oil & Gas index gained 0.63%. On the other hand, the laggards were the Metal index slipping 0.50%, Pharma down 0.10%, and Healthcare down 0.10%.
In stock-specific action, Tata Consumer Products gained 4.05% on strong institutional buying, while State Bank of India added 3.08% and Bharat Electronics Limited rose 2.31%. However, minor profit-booking in select heavyweights capped further upside as Bajaj Finance slipped 1.12%, Titan Company dropped 0.95%, and ITC declined 0.92%.
Nifty technical analysis: daily & hourly
The Nifty 50 extended its bullish momentum on September 17, 2025, closing higher by 91.15 points or 0.36% at 25,330.25. The index continued to build on its recent breakout strength, sustaining above the 25,300 mark, and reflecting persistent buying interest across sectors.
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Source: TradingView
On the daily chart, the index is now comfortably placed above its short- to medium-term moving averages, with the 20-DMA at 24,868 and 40-DEMA at 24,881 providing a solid cushion. The daily RSI has surged to 66, firmly in bullish territory, while the MACD has expanded to +99, underlining strong trend continuation. This reaffirms the breakout momentum highlighted in recent sessions.
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Source: TradingView
Intraday charts reinforce this bullish structure. The index is trading well above the 20-HMA at 25,206 and 40-HEMA at 25,131, showing that near-term averages are providing firm support. The hourly RSI at 75 has entered overbought territory, but this is consistent with strong momentum phases. The hourly MACD at +79 further validates the intraday uptrend.
From the derivatives perspective, the overall setup remains supportive but with a cautious undertone. Total Put OI at 10.98 crore is higher than Call OI at 9.45 crore, leaving a positive OI differential of +1.54 crore, which maintains a bullish tilt. However, the day’s OI change data shows fresh Call writing (+4.04 crore) nearly matching Put additions (+3.90 crore), resulting in a slight negative differential of –13.96 lakh contracts. This hints at some hedging at higher strikes.
The maximum Call OI remains at 26,000, signaling a distant resistance zone, while the biggest addition was at the 25,500 strike, indicating that traders are building positions there as the next cap. On the Put side, both maximum OI and additions are at the 25,300 strike, confirming that traders are aggressively defending the new higher base.
Volatility remains subdued, with India VIX at 8.3, indicating complacency and stable sentiment, while the PCR stands at 1.16, reflecting a comfortable bullish positioning in the options market.
In summary, the Nifty has extended its breakout rally, with momentum and moving averages firmly aligned to the upside. The immediate support now shifts higher to 25,200–25,250, while resistance is seen at 25,500–25,550. A sustained move above 25,550 could open the path toward 25,750–26,000 in the near term.
On the downside, only a close below 25,200 would dent the short-term bullish structure. With both daily and hourly indicators aligned positively and options data confirming higher support zones, the short-term outlook remains bullish, though overbought conditions on intraday charts may trigger mild consolidation.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
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