Nifty to move in 11,600-11,800 range in September; Mindtree, Pidilite top buys

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26 Aug, 2025 12:21

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Dyaneshwar Padwal
KIFS Trade Capital

Though key benchmark index Nifty looks strong on the charts, it witnessed a pullback towards 11,640 last week. However, the ongoing pullback is limited until 11,600, which is placed in the proximity escalating channel where the intermediate trend line is placed.

We expect indices may trade in a tight range between 11,600 (on the south) and 11,800 (on the north). Traders are advised to go for a directional view on indices and one should look for stock-specific action.

We are of the opinion that the Bank Nifty is heading for 27,700-mark. In August series, we observed underperformance in Bank Nifty as compared to the key benchmark index.

We expect the underperformance could continue towards 27,700 to test the escalating channel’s intermediate trend line.

Here is a list of top two stocks which could give 7-8% in next 1 month:

Mindtree: Buy| LTP: Rs 1112.55| Target: Rs 1200| Stop Loss: Rs 1060| Return: 8%

The technology sector has shown outperformance in 2018, and in that space, Mindtree witnessed selling pressure. It completed the corrective move in the proximity of the 50 percent Fibonacci retracement of the previous fall.

The recent breakout suggests that it is poised for an initial leg of upmove towards Rs 1200. Traders can keep a stop loss below Rs 1060.

Pidilite Industries: Buy| LTP: Rs 1165| Target: Rs 1250| Stop Loss: Rs 1135| Return: 7%

On a higher time frame chart mainly on the monthly charts, it is moving in a clear uptrend. After a recent throwback renewed strength is clearly observed on the charts.

One can go long in this stock at CMP by keeping a stop loss below Rs 1135 where the first line of defense is placed for an initial leg of up move towards the uncharted territory. Even the stock has the potential of traveling beyond Rs 1250 mark.

Disclaimer: The author is AVP Technical Analyst at KIFS Trade Capital. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.