Stocks To Buy Today, Sept 1: Top Picks By Chandan Taparia of MOFSL For Profitable Trading On Monday

Markets are expected to open on a positive note, supported by a strong domestic Q1GDP print, GST reforms and encouraging geopolitical developments with India-China.

India's Q1 GDP growth came in at 7.8%, the highest in five quarters, driven largely by robust manufacturing performance. This figure exceeded the Reserve Bank of India's projection of 6.5%, despite the recent imposition of a 50% tariff on Indian exports by the U.S. Investor sentiment is also being lifted by improved diplomatic and economic engagement between India and China.

These developments come at a critical time, with the U.S. tariffs prompting India to explore deeper trade ties with neighbouring countries like China and Russia.

Attention this week will be on the 56th GST Council meeting, scheduled for September 3-4.

On the geopolitical front, all eyes will be on the upcoming SCO Summit in China, where the Indian Prime Minister is set to meet with his Chinese and Russian counterparts. US market is shut today.

Nifty Outlook Today

"Nifty immediate support is at 24350 then 24200 zones while resistance at 24700 then 24850 zones. Now as long as the index remains below 24500, the trend is likely to stay negative with key support at 24350 and 24200. On the upside, hurdles are placed at 24700 and then 24850 zones," said Chandan Taparia of Motilal Oswal.

Bank Nifty Outlook Today

"Bank Nifty support is at 53500 then 53250 zones while resistance at 54250 then 54500 zones. Now till it holds below 54000 zones weakness could be seen towards 53500 then 53250 levels while on the upside hurdle is seen at 54250 then 54500 zones," Chandan Taparia said.

Fundamental Stock Picks By Chandan Taparia of Motilal Oswal

Interglobe Aviation

CMP: Rs 5,646 , TP: Rs 6,900, 22% Upside, Buy

Aviation turbine fuel (ATF) prices were reduced by 1.4% to Rs 90,713.52 per kl, according to state owned fuel retailers. The decrease comes after a steep 10.5% hike in July and August combined, adding to the operating cost of airlines.

For 2QFY26, INDIGO expects ASK growth in mid to high single digits due to seasonality and maintenance, with PRASK likely to be flat YoY. We expect a stronger recovery in 2H, driven by new aircraft inductions, international ramp ups, increasing MICE activities, and more wedding dates compared to last year.

We broadly retain our earnings estimates and expect its revenue/ EBITDAR/Adj. PAT to clock a CAGR of 9%/13%/18% over FY25 27. We value the stock at 11xFY27E EBITDAR to arrive at our target price.

Reliance Industries

CMP: Rs 1,356, TP: Rs 1,700, 25% Upside, Buy

In the FY25 AGM speech, it i ) reiterated his ambition to double RIL's EBITDA by 2027 (vs. 2022 levels), ii) set a timeline of 1HCY26 for the IPO of Jio Platforms (JPL), iii) targeted 20%+ Retail revenue CAGR over the next three years, and iv) unveiled AI and FMCG as the new growth drivers.

Management is targeting a 20%+ revenue CAGR in RRVL over the next three years, driven by its retail footprint, robust LFL growth, and the scaling up of digital channels, as well as new categories and formats.

We expect RJio to remain the biggest growth driver with 19% EBITDA CAGR over FY25 28, driven by one more tariff hike, market share gains in wireless, and continued ramp up of the Homes and Enterprise offerings.

Technical Stock Picks By Chandan Taparia of Motilal Oswal

EXIDEIND

CMP: Rs 396, Stop-loss: Rs 387, Target: Rs 426, Duration: 1 Week, Buy

• Retesting breakout zones from "Descending Triangle" pattern.
• Taking support around its 200 DEMA.
• High volumes on up moves.
• RSI momentum indicator positively placed.
• We recommend to buy the stock at CMP Rs 396 with a SL of Rs 387 and a TGT of Rs 426.

Derivative View:

Option Buying : Buy Nifty weekly 24500 Put till it holds below 24500 zones. Buy Bank Nifty 53000 Put till it holds below 54000 zones.

Option Strategy : Nifty weekly Bear Put Spread (Buy 24500 PE and Sell 24300 PE) at net premium cost of 60-70 points. Bank Nifty Bear Put Spread (Buy 53500 PE and Sell 53000 PE) at net premium cost of 140-150 points.

Option Writing : Sell weekly Nifty 24100 PE and 24800 CE with double SL. Sell Bank Nifty 51000 PE and 56500 CE with strict double SL.

Disclaimer

The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred to as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.