Stock market recommendations: According to Bajaj Broking Research, the top stock picks for September 12, 2025 are Reliance Industries, and Persistent Systems. Here’s its view on Nifty and Bank Nifty:Index View: NIFTYBenchmark indices exhibited a range-bound yet upwardly biased price action during the week, underpinned by renewed optimism surrounding Indo-US trade dialogues. This positive undertone was further supported by constructive global cues and persistent accumulation in select index heavyweights, enhancing overall market sentiment.The Nifty 50 has taken approximately 10 weeks to retrace a mere 38.2% of its preceding 12-week uptrend from 21,744 to 25,669. Such a shallow retracement post a strong impulse leg is indicative of underlying market strength and bullish structural integrity.Over the past three weeks, the Nifty has been consolidating within a well-defined range of 24,400–25,000 and is currently positioned near the upper bound of this range. A sustained breakout above the psychological mark of 25,000 is likely to trigger a short-term continuation move towards the key resistance zone of 25,200–25,250.A decisive close above 25,250 would mark a trend reversal confirmation from the ongoing corrective phase and could potentially unlock further upside towards the 25,500 handle in the coming weeks.On the downside, immediate support is seen near the 24,700 level, while critical short-term support resides in the 24,400–24,300 zone. This area represents a confluence of recent swing lows and the 200-day EMA, thereby making it a pivotal support cluster to watch for trend validation.In the broader market space, both the Nifty Midcap and Small Cap indices continue to hover near their 52-week exponential moving averages, which have been respected since April 2025. This prolonged resilience around a major moving average base offers a constructive setup for incremental accumulation, particularly in quality mid and small-cap names.Key Monitorables Going Forward:
- Progress on Indo-US Bilateral Trade Deal Negotiations – Market participants will closely track any material developments on the trade front, which could act as a significant sentiment driver and impact sector-specific flows.
- US Macro Data Prints – Upcoming releases of MoM CPI and labor market data will be crucial in shaping expectations around the Fed’s policy trajectory and broader risk appetite.
- India CPI Inflation Print – A critical domestic macro indicator, with any deviation from consensus likely to influence RBI’s policy stance and equity/bond market dynamics.
- US Dollar Index (DXY) – The DXY continues to trade below the structural breakdown zone around the 100 mark, reinforcing a corrective bias in the greenback, which could support EM flows.
- Crude Oil Price Action – Brent crude remains capped below its 20-week EMA, signaling bearish undertones in the commodity and potentially easing inflationary pressures for import-dependent economies like India.
NIFTY BANKThe Bank Nifty has resumed its positive momentum, as reflected by the higher-high and higher-low formation on the daily chart, effectively negating the recent corrective trend.The 200-day EMA has proven to be a reliable support zone on the daily timeframe. Following a phase of consolidation around this crucial moving average, the index has absorbed selling pressure and is now positioning itself for the next leg of its up move.A breakout from the recent consolidation zone further reinforces the continuation of the uptrend, with immediate support placed at Monday’s low of 54,300. On the upside, the index carries the potential to move towards 55,350, based on the measured move of the consolidation range (53,779–54,670). On the downside, key support is placed at 53,500–53,300, which coincides with the 200-day EMA and the swing low of May 2025.Stock Recommendations:Reliance IndustriesBuy in the range of Rs 1370.00-1390.00
Reliance Industries’ stock has undergone a corrective phase over the past two months and is currently consolidating near a crucial support zone. This technical setup offers a favorable risk-reward profile, positioning the stock for a potential bullish reversal and the next leg of the uptrend.The stock is currently exhibiting base-building price action around the key demand zone of ₹1300–₹1340, which marks a confluence of multiple technical factors supporting a potential reversal: (a) 50% retracement of the previous April-June 2025 up move (1115-1551), (b) 52 weeks EMA placed around 1360 (c) Previous major breakout area placed around 1330 levels which is likely to reverse its role and act as support in the medium term as per change of polarity concept.The ongoing corrective phase appears to be nearing exhaustion, with price action indicating the potential for a fresh bullish reversal. We anticipate stock to resume its primary uptrend and retest the previous swing highs around ₹1540 in the upcoming quarters, which correspond to the key resistance zones marked by the September 2024 and July 2025 peaks.Persistent SystemsBuy in the range of Rs 5350-5430
The stock after the recent corrective decline is forming a potential double bottom in the daily chart thus offers fresh entry opportunity with favorable risk-reward set up.It has generated a breakout above the falling trendline containing the last 3 months corrective decline highlighting reversal of the corrective trend. Strong support is placed in the range of 5000-5050 levels being the confluence of the last two months lows and key retracement area.We expect the stock to head higher towards 5930 levels being the 80% retracement of the previous June-August decline (6180-5008).(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
