Raja Venkatraman’s Top Stock Picks and Market Analysis for September 24

The Indian stock market witnessed a modest rise on Wednesday, September 24, 2026, with key indices showing gains amid a cautious trading atmosphere. The Nifty 50 index closed 0.50% higher at 23,446 points, while the Sensex inched up 0.40% to 74,828 points. Although the market advanced, investor sentiment remained guarded due to ongoing geopolitical tensions and continued foreign fund outflows.

Against this backdrop, Raja Venkatraman, the co-founder of NeoTrader and a registered research analyst, shared his technical outlook and stock recommendations for the day. He identified three stocks that present potential opportunities based on current price action and broader market trends.

Inventurus Knowledge Solutions Ltd. (IKS Health)

Trading at ₹1,937.80, Inventurus Knowledge Solutions Ltd., known in the market as IKS Health, is a technology-driven healthcare service provider established in 2006. The stock had been under consolidation for several weeks but recently showed signs of a strong rebound. Over the past two sessions, it found support near the Kumo cloud—a key Ichimoku indicator—suggesting a halt in the decline and renewed buying interest.

The services sector, to which IKS belongs, has been gaining momentum over the past month, contributing to the stock’s positive movement. The Average Directional Index (ADX), a trend strength indicator, has recently crossed critical levels after a pullback, signaling the possibility of a sustained upward trend in the coming weeks.

Technically, IKS has support around ₹1,700 and faces resistance near ₹2,300. Venkatraman recommends entering a long position above ₹1,940 with a stop loss at ₹1,865 and targeting ₹2,100 over the next two months. Investors should remain aware of risks such as credit rating evaluations, geographic concentration, data security issues, and regulatory factors related to the company’s Draft Red Herring Prospectus (DRHP).

Motilal Oswal Financial Services Limited (MOFSL)

Motilal Oswal Financial Services, a prominent Mumbai-based diversified financial services firm, is currently trading at ₹1,042.50. After some earlier profit booking, the stock has shown resilience by forming a series of higher lows, supported by strong trading volumes, especially noted on Monday.

The price remaining stable around the ₹970-980 range indicates the stock’s potential to continue its upward momentum. The stock’s technical support lies near ₹670, with resistance around ₹900. Venkatraman suggests buying above ₹1,045, with a stop loss set at ₹990 and a target price of ₹1,165 within two months.

Potential risks for Motilal Oswal include revenue cyclicality, tightening regulations in the futures and options segment, and challenges related to the maturation of its lending entities.

Vijaya Diagnostic Centre Limited

Vijaya Diagnostic Centre, a leading integrated diagnostics provider offering pathology and radiology services, is priced at ₹1,570.70. The stock recently bounced off strong support levels marked by the Tenkan Sen and Kijun Sen lines, accompanied by increased volumes, which typically indicate buying interest.

The stock’s consolidation phase followed by an upward move suggests a favorable technical setup. The Chikou Span, another Ichimoku indicator, is also signaling a positive trend. With the price forming a long-bodied candle, the stock appears poised for further gains.

Support for Vijaya Diagnostics is near ₹1,470, and resistance is around ₹1,825. Venkatraman advises initiating a long position above ₹1,575, placing a stop loss at ₹1,429, and targeting ₹1,725 over two months. Investors should keep an eye on margin pressures, legislative changes affecting gig workers, and challenges across the company’s multiple business verticals.

Market Overview and Technical Insights

On the broader market front, metals led the rally with JSW Steel rising 2.54% to ₹1,299.20, Tata Steel gaining 2.48% to ₹189.56, and Hindalco advancing 2.19% to ₹994.30. Bajaj Finance and Larsen & Toubro also contributed with gains above 1.9%. Conversely, Titan, Coal India, and Cipla saw moderate declines, alongside IT giants Infosys and TCS, which slipped under 1%.

Bank Nifty displayed relative weakness compared to the Nifty 50, with persistent bearish pressure limiting upward moves. HDFC Bank’s underperformance following its Q1 results weighed on the sector. The index struggled to sustain rallies above the 56,500 mark, indicating a potential downward bias in the near term.

Sector rotation is underway, causing divergence between indices. The market has entered a consolidation phase with the Nifty facing resistance around 23,600 points. Open interest data points to hurdles at higher levels, suggesting that a decisive breakout is necessary to sustain bullish momentum.

Traders should observe intraday price movement closely, especially the 30-minute range on Thursday, as a clear move above resistance could trigger fresh buying interest. Until then, the market appears to be range-bound, with higher levels being used for short positions in some cases.

Raja Venkatraman’s recommendations and market analysis provide a measured approach for investors navigating current conditions marked by geopolitical risks and foreign fund outflows. His insights emphasize the importance of technical signals and risk management in stock selection and trading strategies.

Disclaimer: Raja Venkatraman is a SEBI-registered research analyst with registration number INH000016223. Investment decisions carry risks, and individuals should review all relevant documents carefully before investing. The views expressed are those of the analyst and do not represent the publisher’s opinions.