Stock market recommendations: Emcure Pharmaceuticals, and VA Tech Wabag are the top stocks to buy on September 15, 2026, recommends Sudeep Shah, Head – Technical Research and Derivatives, SBI Securities. He has also shared his outlook for Nifty and Bank Nifty for the coming trading session:
Stock recommendations:
Emcure PharmaceuticalsEMCURE took support from its rising trendline and moved higher steadily on the daily chart, connecting the lows of 1679 and 1751 made on 12th June and 17th July respectively. The RSI moved higher from 40 on 25th August to 64 on 11th September indicating strong bullish momentum. The rising green MACD histogram bars with MACD line above the zero line, further reinforces bullish bias.The DI lines have started to widen with DI+ placed above DI- in the ADX indicator, indicating firm control of bulls over the bears. The ratio line of EMCURE/NIFTY ratio chart has given a fresh breakout and closed above its previous high, signaling that the stock is outperforming vis-a-vis the benchmark. Hence, we recommend to accumulate the stock in the zone of 1965-1985 with a stoploss of 1905. On the upside, it is likely to test the level of 2125 in the short term.VA Tech WabagWABAG has given a downward sloping trendline breakout on the daily chart. The breakout is supported by a strong rise in volumes over the last 3 trading sessions. The RSI, which was flat, has turned higher and settled above 60, indicating renewed bullish momentum. The stock has closed above the upper band of the Bollinger band for two consecutive days, a phenomenon often seen during the start of strong trends.The rising ADX on the weekly chart indicates bullish trend strength. Furthermore, the DI lines have widened with DI+ placed above DI- in the ADX indicator, indicating strong control of bulls over the bears. Hence, we recommend to accumulate the stock in the zone of 2265-2285 with a stoploss of 2195. On the upside, it is likely to test the level of 2445 in the short term.Nifty ViewFor the fifth consecutive week, the benchmark index Nifty ended on a negative note. The Nifty ended last week with a loss of 2% and formed a sizeable bearish candle with lower shadow. Due to the escalation of war between US and Iran, the Brent Oil prices have witnessed a sharp surge. The US 10-years bond yield has marked the high 4.97%, which was the highest level since October 2023. This has dented the sentiments in the market.In the first week of August, the index has marked the high of 24774 level and thereafter it has gradually moved lower. The pace of fall has increased significantly in the last week. From the high of 24774 level, the index has tumbled by over 1500 points or over 6% in 29 trading sessions.Due to this fall, the index has slipped below its crucial short and long-term moving averages, which is a bearish sign. The momentum indicators and oscillators are also portraying a bearish picture. The daily RSI is quoting at 27.66 level and it is in falling mode. The weekly RSI is about to slip below 40 mark and it is in falling mode. The MACD histogram is quoting below zero line since last 21 trading sessions.Going ahead, the zone of 23100-23000 will act as important support for the index as it is the confluence of 61.8% Fibonacci retracement level of its prior upward rally (22182-24774) and prior swing low. If the index slips below 23000 level, then it is likely to extend its correction up to the level of 22800 level, followed by 22500 level.On the upside, the zone of 23600-23650 will act as a crucial hurdle for the index.Bank Nifty ViewThe banking benchmark index Bank Nifty has relatively outperformed frontline indices. However, it has ended the week on a negative note but it has witnessed a sharp recovery after taking the support near prior swing low. On a weekly scale, it formed a bearish candle with lower shadow.Currently, the index is trading near its 200-day EMA level. While, it is still trading below its 20, 50 and 100-day EMA level. The momentum indicators and oscillators are still suggesting sideways momentum. During the week, the daily RSI slipped below 40 mark but on Friday, it witnessed a pullback.Going ahead, the zone of 56000-55900 will act as important support for the index. While, on the upside, the zone of 57000-57100 will act as a crucial hurdle for the index. Any sustainable move above 57100 will lead to sharp pullback rally up to the 58000 level.(Disclaimer: Recommendations and views on the stock market, or any other asset classes or personal finance management tips given by experts and analysts are their own. These opinions do not represent the views of The Times of India.)
