Stocks To Buy Today, Sept 11: Top Picks By Riyank Arora of Mehta Equities For Profitable Trading On Thursday

The Nifty index managed to hold steady at higher levels and continued its winning streak during the previous session. Notably, the index finished above the previous day's low for the eighth consecutive session, highlighting the absence of persistent negative pressure. Whereas Nifty Bank recorded a gain of 319.90 points, finishing at 54,536.00, Nifty achieved a slight rise of 104.50 points to settle at 24,973.10 on Wednesday. Despite a muted session on both ends, the index managed to hold the crucial 54,000 zone. A period of diminishing volatility was indicated by the India VIX's 1.38% decline to 10.53. Despite the index's erratic movement, the muted signal points to consolidation rather than panic-driven trading, indicating cautious optimism as market players refrain from aggressive hedging.

Nifty Outlook Today

"Overall, Nifty continues to hover at its make-or-break psychological level of 25,000, where significant call writing has created a challenging resistance zone. Yet, the broader trend remains constructive, backed by a strong base near 24,700-24,800 and the support of the 20- and 50-DEMA cluster. The ongoing higher-high and higher-low structure further strengthens the bullish undertone.

A sustained move above 25,050 could ignite meaningful short covering, paving the way for an extended rally towards 25,200. Until then, buy on dips is likely to remain the preferred strategy as long as the base holds firm," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

Bank Nifty Outlook Today

"Broadly, Nifty Bank is hovering just above its breakout neckline of 54,500, though confirmation of a breakout is still pending. A sustained close above 54,700 would likely strengthen optimism and validate the breakout move. Despite near-term indecisiveness, heavyweight names from both private and public sector banks are displaying robust recoveries from oversold zones, further fuelling positive sentiment," stated Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"With the higher-high and higher-low formation intact, coupled with strong support at 54,000-53,900 backed by significant put writing, the broader undertone remains constructive. A sustained move above 54,700 could unleash meaningful short-covering, opening the path toward 55,200. Until then, buy-on-dips is expected to remain the favoured strategy as long as the established support base holds firm," Dhupesh Dhameja further added.

Stocks To Buy Today

As of today, Thursday, September 11, Mehta Equities Ltd.'s technical analyst Riyank Arora recommended buying two stocks.

Snowman Logistics

Buy | CMP: Rs 56.38 | Stop-loss: Rs 54 | Target: Rs 60 / Rs 63

Snowman Logistics has maintained positive traction, forming higher lows on the charts. The stock is trading comfortably above its support levels, with improving volume action. Momentum indicators like RSI are showing bullish signals, hinting at continued strength. A hold above ₹56.38 can push the stock toward ₹60 and ₹63. Fresh long positions may be considered with a stop-loss at ₹54.

Enviro Infra

Buy | CMP: Rs 249 | Stop-loss: Rs 240 | Target: Rs 265 / Rs 275

Enviro Infra is displaying positive momentum, sustaining above its short-term moving averages. The stock is witnessing renewed buying after consolidation, supported by healthy volumes. RSI is rising, which reinforces bullish sentiment. Sustaining above ₹249 may lead to an upside move toward ₹265 and ₹275. Traders may enter long positions at current levels while keeping a stop-loss at ₹240 to manage volatility.

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