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Stock Market LIVE Updates: the Nifty50 and the Sensex were trading with negligible gains as traders braced themselves for the US-Iran talks over the weekend
Disclaimer: This article is written by Vinay Rajani, CMT, senior technical analyst, HDFC Securities. Views expressed are his own. Readers’ discretion is advised.
Nifty View
The broader trend remains firmly bearish, with Nifty continuing to print lower tops and lower bottoms while trading below key moving averages. However, with the index now more than 1,050 points below its August swing high of 24,774, the short-term trend is approaching oversold territory. Nifty has also arrived at a critical support zone around 23,600, which coincides with the previous swing low. A decisive break below this level could open the door for further downside towards 23,478 and 23,172—key Fibonacci retracement levels that may act as the next supports.
On the upside, immediate resistance has shifted down to 23,800, followed by 24,000. Sustained trading above 24,000 would be required to improve the near-term technical setup and trigger a meaningful recovery. CHECK Stock Market LIVE Updates
Stocks to buy today (September 9) by Vinay Rajani
Buy EMIL at ₹184.9 | Stop loss: ₹175 | Target: ₹198
EMIL’s stock price has broken out of the bullish “Flag” pattern on the daily chart. A jump in volume accompanies this price rise. The stock is placed above the 20 DEMA, which indicates a bullish trend on the short-term time frame. The daily RSI has been sustaining above 50.
Buy IngersolRand at ₹4760 | Stop loss: ₹4550 | Target: ₹5190
After running a correction from the recent swing high, Ingersoll Rand’s stock found support on its 20 DEMA and bounced back. The primary trend of the stock has been bullish, with higher tops and higher lows, and the price level is above all key moving averages.
First Published: Sep 09 2026 | 7:39 AM IST
