Stock market recommendations: Indian Hotels Company, and Sona BLW Precision Forgings Ltd are the top stocks to buy recommended by Sudeep Shah, Head – Technical Research and Derivatives, SBI Securities for September 21, 2026. The analyst has also shared his views on Nifty and Bank Nifty. Let’s take a look:
Stock recommendations
Indian Hotels CompanyINDHOTEL witnessed a downward-sloping trendline breakout around mid-June and has largely been consolidating within a range since then. Despite the consolidation, the stock continues to trade above key moving averages. The DI lines have widened with the DI+ is placed above DI- on the ADX indicator, indicating strong control of bulls over the bears. The RSI, which was flat, has witnessed a sharp uptick, indicating build-up of momentum.The MACD line has crossed over the signal line on the daily timeframe, indicating that the momentum is building on the bullish side. The stock has closed marginally below the upper band of the Bollinger bands and the indicators alignment suggest that the stock looks poised to breakout and move higher in the near term. Hence, we recommend to accumulate the stock in the zone of 725-735 with a stoploss of 705. On the upside, it is likely to test the level of 790 in the short term.Sona BLW Precision Forgings LtdSONACOMS has given a downward sloping trendline breakout on the daily chart. The RSI has also given a downward sloping trendline breakout, indicating renewed bullish momentum. Recently, the stock gave a strong bounce from its 50-day EMA and sharply moved higher, indicating an improvement in the near term sentiment. The pullback over the last two days was well supported by a healthy rise in the volumes.Broadly, the rising ADX on the weekly chart indicates bullish trend strength. The shrinkening red histogram bars on the daily chart in MACD, signals that the near-term pressure is easing out and that the momentum is quietly building on the bullish side. Hence, we recommend to accumulate the stock in the zone of 800-815 with a stoploss of 775. On the upside, it is likely to test the level of 870 in the short term.Nifty ViewLast week, for the sixth consecutive trading session, the benchmark index Nifty ended on a negative note. However, it has witnessed a minor pullback and ended the week with marginal loss of 0.18%. On a daily scale, it has formed a bearish candle with lower shadow, which indicates buying interest at lower levels.However, the index is still comfortably trading below its short and long-term moving averages. These averages are in falling mode. The Daily RSI has witnessed rebound after testing the low of 22.23 and currently it is quoting at 34.17 level. It has given a bullish crossover, which indicates pause in correction for now.Going ahead, the zone of 23050-23000 will act as important support for the index as it is the confluence of prior swing low and 61.8% Fibonacci retracement level of its prior upward rally. If the index slips below 23000 level then it is likely to resume its downward journey and test the 22700 level.On the upside, the 10-day EMA zone of 23450-23500 will act as an important hurdle for the index. If the surges above 23500 level, it is likely to extend its pullback rally and test the level of 23700, followed by 23900 in the short term.Bank Nifty ViewSince the last seven trading sessions, the banking benchmark index, Bank Nifty, has traded in a range of 1300 points. However, for the fourth consecutive week, it has ended on a negative note. On a weekly scale, it has formed a bearish candle with lower shadow.Currently, the index is trading below its crucial moving averages. Due to the consolidation, the 100 and 200-day EMA are quoting flat. The daily RSI is in the sideways zone.Going ahead, the zone of 55700-55600 will act as important support for the index as 50% Fibonacci retracement level of its prior upward rally is placed in that region. On the upside, the zone of 56900-57000 will act as a crucial hurdle for the index. Any sustainable move on either side will lead to a trending move in the index.(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.)
