Top stocks to buy: What is the Nifty outlook for week starting September 29?

Stock marketplace recommendations: According to Sudeep Shah, Head - Technical Research and Derivatives, SBI Securities, the apical banal picks for this week are Larsen & Toubro (L&T), and Ashok Leyland. Here’s his presumption connected Nifty, Bank Nifty for the week starting September 29, 2025:Nifty ViewThe benchmark Nifty scale recorded a steep autumn of 2.65% implicit the past week, wiping retired much than 60% of the gains it had built up successful the preceding 3 weeks.

The diminution from caller highs was notably swift, with the scale sliding astir 800 points successful conscionable 7 sessions. This has go the longest losing streak since March 2025, arsenic Nifty closed little for six consecutive days — a beardown awesome of deepening bearish sentiment crossed sectors.The sharpest stroke came from the Nifty IT pack, which slumped astir 8% during the week. The sell-off was sparked aft U.S. President Donald Trump projected an tremendous $100,000 interest for caller H-1B visa applications, a determination that stirred important interest for Indian IT firms.

This announcement led to dense unloading successful starring tech counters arsenic capitalist assurance soured. To marque matters worse, Trump besides announced a 100% tariff connected pharmaceutical imports connected Friday, adding further unit connected export-oriented segments specified arsenic pharma.On the method front, Nifty broke beneath aggregate important moving averages — the 20-day, 50-day, and 100-day EMAs — each of which person present turned lower. Additionally, the regular RSI slipped retired of its upward transmission and dropped beneath the 40 level, strengthening the lawsuit for continued downside momentum.

Looking ahead, the captious cushion for Nifty lies successful the 200-day EMA portion astatine 24,400–24,350, which present stands arsenic the last enactment of support. A decisive breach beneath 24,350 could unfastened the gates for a further descent toward 24,000. On the flip side, contiguous absorption has shifted down to 24,850–24,900, a set that indispensable beryllium crossed for immoderate meaningful rebound attempt.Bank Nifty ViewThe banking gauge, Bank Nifty, excessively faced selling unit past week, shedding astir 2% and slipping beneath the 54,400 level.

From its caller plaything precocious of 55,835, the scale has mislaid much than 1,400 points successful conscionable 7 sessions, underscoring the gait of correction successful banking names.On the play timeframe, the scale has carved retired a ample bearish candle, signalling beardown downward momentum and a alteration successful near-term sentiment. From a method perspective, Bank Nifty has breached nether its 20-day, 50-day, and 100-day EMAs, each of which are present pointing little — highlighting the weakening inclination structure.Further compounding the bearish picture, the regular RSI is inching person to the 40 portion and continues to inclination downward. This indicates fading momentum and suggests that the scale could conflict to stabilize unless wide marketplace temper turns supportive. The setup intelligibly calls for caution successful the banking basket.In presumption of levels, the 200-day EMA astir 53,800–53,700 is expected to enactment arsenic a captious enactment zone. A decisive breakdown beneath 53,700 whitethorn accelerate the diminution toward the 53,000 mark.

On the different hand, contiguous absorption has present shifted little to 54,700–54,800, which volition service arsenic a cardinal obstruction for immoderate meaningful rebound.Stock recommendations:Larsen & Toubro (L&T)Larsen & Toubro (L&T) had repeatedly failed to transverse the stiff absorption portion of 3700–3710 since aboriginal June, but today’s beardown move, supported by rising volumes, has yet propelled the banal supra this barrier, signalling a imaginable breakout.

The terms enactment is encouraging, arsenic L&T has closed firmly supra each cardinal short- and semipermanent moving averages, showcasing a robust bullish structure.Bollinger Bands are widening with terms enactment hugging the precocious band, indicating beardown momentum and the anticipation of continuation. RSI has moved supra 60, pointing to strengthening bullish sentiment. Volume enactment has picked up, reinforcing condemnation successful the breakout.

The ADX enactment excessively is rising, hinting astatine improving inclination strength.Overall, with absorption present conquered, L&T looks poised for further upside. Hence, we urge to accumulate the banal successful the portion of 3730-3710 with a stoploss of Rs. 3600. On the upside, it is apt to trial the level of 4000 successful the abbreviated term.Ashok LeylandAshok Leyland, which is simply a constituent of the Auto Index, has comparatively outperformed the Nifty scale successful caller weeks, arsenic indicated by a rising ratio enactment successful Ashok Leyland/Nifty ratio chart. Despite weakness successful the broader markets, the banal has shown resilience, managing to clasp its crushed without cracking nether selling pressure. On the regular chart, Ashok Leyland continues to commercialized supra each cardinal moving averages – the 20-day, 50-day, 100-day, and 200-day EMAs – reflecting a beardown bullish undertone.The terms has been hugging on the precocious set of the Bollinger Bands, signalling sustained buying involvement and a improvement which is often seen during beardown trends. RSI remains comfortably supra 60, indicating steadfast momentum without signs of overheating. Importantly, the ADX enactment is rising, highlighting strengthening inclination intensity, which adds condemnation to the ongoing move.With technicals aligned successful favour of the bulls, the banal looks poised for further upside. Hence, we urge to accumulate the banal successful the portion of 140-142 with a stoploss of Rs. 137. On the upside, it is apt to trial the level of 151 successful the abbreviated term.(Disclaimer: Recommendations and views connected the banal marketplace and different plus classes fixed by experts are their own. These opinions bash not correspond the views of The Times of India)