Stocks To Buy Today, Sept 18: Top Picks By Riyank Arora of Mehta Equities For Profitable Trading On Thursday

Nifty completed the previous session at 25,330.25, up 0.36%, continuing its winning run as it emphatically closed at a new nine-week high, riding high on optimism around the US Federal Reserve's rate-cut decision. The excitement around the US Fed's rate-cut decision helped the Nifty Bank index continue its upward trajectory, wrapping up at a new three-week high. The index closed at 55,493.30, up 345.70 points. Indicating stabilization rather than panic-driven fluctuations, the India VIX fell slightly by 0.24% to 10.24. The subdued volatility signals measured optimism, as market participants refrain from aggressive hedging despite intraday fluctuations.

Nifty Outlook Today

"The Nifty's follow-through move above its swing high breakout, coupled with a close at a nine-week peak, strengthens the case for continued upside. With call writers shifting towards higher strikes and Put writers adding positions closer to at-the-money levels, the structure indicates persistent bullish traction. As long as the index sustains above the 25,100-25,150 zone, buyers are likely to remain active," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"On the higher side, a decisive move beyond 25,380 could pave the way toward 25,500. Adding to the positive sentiment, persistent short-covering by FPIs-along with a sharp reduction in their overall short exposure-has further buoyed optimism. While minor profit booking after the Fed-driven rally cannot be ruled out, the broader market structure remains firmly tilted toward the bulls," the analyst added.

Bank Nifty Outlook Today

"Nifty Bank's follow-through above the psychological 55,000 breakout, coupled with its close at a three-week peak, reinforces the case for continued upside. With call writers shifting to higher strikes and put writers actively building positions near at-the-money levels, the setup points toward sustained bullish traction. As long as the index holds above the 55,000-55,150 zone, buying interest is expected to remain strong," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"On the higher side, a sustained move beyond 55,620 could open the door for 56,100. Adding to the optimism, persistent short-covering from FPIs and leadership taken by the PSU banks have further fueled the rally. While sentiment-driven gains post the Fed event may invite bouts of profit booking, the broader outlook remains firmly tilted in favor of the bulls," Dhupesh Dhameja further added.

Stocks To Buy Today

Riyank Arora, a technical analyst at Mehta Equities Ltd., recommended buying the stocks below on Thursday, September 18.

SRM Contractors

Buy | CMP: Rs 557 | SL: Rs 540 | Target: Rs 590 / Rs 615

SRM Contractors is witnessing strong momentum, trading near its highs with steady buying support. The stock is comfortably placed above its short-term averages, reflecting bullish undertone. RSI is in positive territory, indicating more upside potential. Sustaining above ₹557 can push the stock toward ₹590 and ₹615. Fresh buying can be considered with a stop-loss at ₹540.

PC Jeweller

Buy | CMP: Rs 14.68 | SL: Rs 14 | Target: Rs 16 / Rs 17.50

PC Jeweller has shown signs of bottoming out after a prolonged downtrend, supported by volume-based buying. The stock is holding above its immediate support zone, and RSI has turned positive, indicating recovery momentum. Sustaining above ₹14.68 can take the stock higher toward ₹16 and ₹17.50. A strict stop-loss at ₹14 is recommended to minimize downside risk.

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