Stocks to buy: What's the outlook for Nifty for September 28-October 1 week? Top stock recommendations

Stock market recommendations: Zydus Lifesciences, and HBL Engineering - these are the top stock picks by Sudeep Shah, Head - Technical Research and Derivatives, SBI Securities for September 28, 2026. Views on Nifty and Bank Nifty have also been shared by him:Stock recommendations:Zydus LifesciencesZYDUSLIFE has been consolidating in a 1205-1086 range since the last 3 months. Since hitting its 100-day EMA on 16th September, the stock has given a pullback of around 11%. Despite the consolidation, the stock trades well above its key short and long term moving averages. The RSI has given a downward sloping trendline breakout, indicating buildup of momentum on the bullish side.Rising MACD histogram bars with MACD line moving above the zero line, further reinforce bullish bias. Additionally, the DI lines have started to widen with DI+ placed above DI- in the ADX indicator, indicating that the bulls are firmly in control. Hence, we recommend to accumulate the stock in the zone of 1195-1210 with a stoploss of 1155. On the upside, it is likely to test the level of 1290 in the short term.HBL EngineeringHBLENGINE gave a downward sloping trendline breakout on the daily chart, which was followed by a strong follow through move and well supported by a healthy rise in volumes. The RSI is in a rising mode indicating strong bullish momentum. Additionally, the RSI has also given a downward sloping trendline breakout on the weekly chart, indicating renewed bullish momentum.The stock has closed above the upper band of Bollinger bands, a phenomenon often seen during the start of strong trends. The ADX has gradually started to move higher, indicating that the strength is building up on the bullish side. The stock has reclaimed its key moving averages and looks poised to extend its up move in the near term. Hence, we recommend to accumulate the stock in the zone of 805-815 with a stoploss of 780. On the upside, it is likely to test the level of 870 in the short term.Nifty ViewFor the seventh consecutive week, the benchmark index Nifty has ended on a negative note. This was the longest losing streak since 2020’s COVID led fall. The sharp surge in US 10-year bond yield and high volatility in Brent Oil prices has dented the sentiments.Technically, the index is trading 3% below its 50-day EMA and nearly 4% below its 100-day EMA level. These averages are in falling mode.The daily RSI has resisted near 40 levels and again moved downward. This clearly indicates range has shifted in the super bearish zone as per RSI range shift theory. The daily MACD stays bearish as the signal line and MACD line is quoting below zero. The MACD histogram is quoting below zero line since the last 30 trading sessions.Going ahead, the zone of 23270-23300 will act as an important hurdle for the index. As long as the index is trading below 23300 level, it is likely to continue its downward journey and test the level of 22800, followed by 22600 level.Bank Nifty ViewFor the fifth consecutive week, the banking benchmark index Bank Nifty has ended on a negative note. It has also slipped below its recent swing low.The index is comfortably trading below its crucial moving averages. The 20, 50 and 100-day EMA. These averages are in falling mode. The daily RSI is quoting below in the zone of 46-33 level since the last 12 trading sessions.Going ahead, the zone of 55100-55000 will act as important support for the index as 61.8% Fibonacci retracement level of its prior upward rally is placed in that region. Any sustainable move below 55000 will lead to further correction up to the 54400 level.On the upside, the zone of 56000-56100 will act as a crucial hurdle for 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.)You use AI every day. Now get your AI Quotient. Take the AIQ test.