Stocks to Buy Today: Ankush Bajaj’s Top Picks for 2 September
Indian equities moved higher on 1 September, supported by sustained buying and positive sentiment across sectors. The Nifty 50 climbed 198.20 points or 0.81% to close at 24,625.05, while the BSE Sensex advanced 554.84 points or 0.70%, finishing at 80,364.49.
Top Three Stock Picks by Ankush Bajaj for 2 September
Kaynes Technology India Ltd. (KAYNES) — current price: ₹6,600
Why it’s recommended: Kaynes has delivered a decisive breakout on the daily chart, closing firmly above its recent resistance of ₹6,520. The daily RSI stands at 66, reflecting healthy bullish momentum, while the MACD is strongly positive at 99, signaling sustained upside drive.
- RSI: 66 — bullish momentum confirmed
- MACD: +99 — positive, supporting continuation
- ADX: 15 — trend emerging, room to strengthen
- Price action: Clean breakout above ₹6,520 with strong close
- Risk factors: Trend strength (ADX) is still low, meaning volatility could cause sharp swings before trend matures.
Dixon Technologies (India) Ltd. — current price: ₹17,582
Why it’s recommended: Dixon is showing strong technical momentum. On the daily chart, the RSI at 67 confirms bullish strength, the MACD at +246 highlights powerful upside momentum, and the ADX at 19 indicates a trend that is strengthening further.
- RSI: 67 — bullish, momentum building
- MACD: +246 — strong upward drive
- ADX: 19 — improving trend strength
- Chart pattern: Rectangle breakout at ₹17,135, validating bullish continuation
- Risk factors: Being in the higher valuation zone, the stock could face volatility on profit-taking.
Eicher Motors Ltd. — current price: ₹6,280
Why it’s recommended: Eicher Motors has exhibited robust strength, closing at a lifetime high in the last session. The stock has also covered the previous two red candles with strong volumes, reinforcing buyer conviction.
- RSI: 79 — extremely strong bullish momentum
- MACD: +155 — sustained upside drive
- ADX: 35 — strong trend strength
- Price action: Closed at lifetime high; bullish engulfing move over last two red candles with volume support.
- Risk factors: RSI is in the overbought zone; short-term pullbacks may occur.
How the Market Performed on Monday
Sectoral performance was broadly positive. The PSE index surged 1.78%, metals added 1.64%, and the auto index jumped 0.95%, showcasing strength in cyclicals and industrials.
Nifty Technical Analysis: Daily & Hourly
Nifty ended 1 September on a strong note, closing at 24,625.05 with gains of 198 points (+0.81%). The index successfully defended the key support at 24,344 – the neckline of the developing head & shoulders pattern – and rebounded sharply.
Outlook
As long as Nifty sustains above 24,500, the bias remains positive with potential upside toward 24,800-25,000. A breakout above 25,000 could open the way for 25,250-25,400, while a close below 24,344 would negate the recovery and revive a deeper bearish phase.