Stocks To Buy Today, Oct 7: Top Picks By Riyank Arora of Mehta Equities For Profitable Trading On Tuesday

While Nifty Bank completed the session at 56,104.85, up 0.93%, indicating a strong continuation of its current up rise, Nifty wrapped up the previous session at 25,077.65, up 0.74%, continuing its recovery for the third straight day. With a moderate volatility that nonetheless favours range expansion on the upper side, the India VIX is currently trading at 10.19. As long as Nifty maintains its level over 25,000, the short-term outlook is anticipated to be favorable. Ahead of the Q2FY26 results season and the October 9th publication of TCS's earnings, the IT index will be the sector of attention.

Nifty Outlook Today

"On the daily chart, the index formed a strong bullish candle and closed above the Bollinger middle band, indicating a positive shift in the short-term momentum. The index has reclaimed the 25,000 mark and is now approaching a crucial resistance zone of 25,150-25,200, where multiple previous swing highs are clustered," said Om Mehra, Technical Research Analyst, SAMCO Securities.

"A decisive close above this band could further extend the rally. The RSI has improved to 55, advancing steadily from the neutral zone, while the MACD has begun to narrow its negative spread, indicating that bearish momentum is fading. The immediate support is placed at 24,950, followed by 24,880, which also coincides with the 38.2% of Fibonacci retracement," the analyst added.

Bank Nifty Outlook Today

"The index registered a decisive breakout above the previous swing high near 55,836, closing firmly above that level, which confirms renewed strength in the ongoing rally. The index is now holding above all key moving averages, with a significant bullish crossover of the 9-EMA over the 50-EMA, adding momentum to the upside. The hourly Super trend indicator remains placed around 55,700, marking an important trailing support level for the index," Om Mehra commented.

"The RSI has surged to 63, maintaining a steady upward slope and reflecting improving strength, while the MACD has confirmed a positive crossover, signalling a pickup in momentum. The next immediate resistance is placed around 56,350-56,500, while support is seen near 55,700, followed by 55,600," he further added.

Stocks To Buy Today

Mehta Equities Ltd's technical analyst Riyank Arora recommended buying 4 stocks on Tuesday, October 7.

Nykaa

Buy CMP: Rs 255, SL: Rs 245 | Target: Rs 275 / Rs 285

Nykaa has shown renewed strength after holding support near ₹245, signaling a potential short-term reversal. The stock is trading above its 20-day moving average with rising RSI, indicating momentum buildup. A sustained move above ₹255 may propel it toward ₹275 and ₹285. A stop-loss at ₹245 should be maintained to safeguard positions.

BSE

Buy | CMP: Rs 2,217 | SL: Rs 2,140 | Target: Rs 2,380 / Rs 2,450

BSE is forming a strong bullish setup, staying above crucial support at ₹2,140. The price structure indicates continued buying on dips, supported by healthy volume trends. RSI remains firm, suggesting strength in momentum. Sustaining above ₹2,217 can open upside targets of ₹2,380 and ₹2,450. Traders can accumulate with a stop-loss at ₹2,140.

Lemon Tree Hotels

Buy | CMP: Rs 173 | SL: Rs 165 | Target: Rs 185 / Rs 195

Lemon Tree Hotels is in a steady uptrend, trading comfortably above its support zone. Volumes suggest accumulation, while technical indicators indicate improving momentum. A sustained move above ₹173 can push the stock toward ₹185 and ₹195. Traders can look to buy at current levels with a stop-loss at ₹165.

EMS Limited

Buy | CMP: Rs 570 | SL: Rs 550 | Target: Rs 600 / Rs 625

EMS Limited is holding firmly above ₹570 with strong price action and positive momentum. The stock has support near ₹550, which provides a favorable risk-reward setup. Sustaining above current levels may drive the price toward ₹600 and ₹625. A stop-loss at ₹550 is suggested to limit risk.

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