Top stocks to buy for the short term: After falling 6% in September and extending losses for the second consecutive month, the market benchmark Nifty has been flat so far in October amid lingering concerns over higher oil prices, elevated bond yields, and foreign capital outflows.
According to Pabitro Mukherjee, Deputy Vice President - Technical at Bajaj Broking, in the coming sessions, a move above last week's high of 22,776 will trigger a further pullback towards the 23,000-23,100 levels.
However, failure to move above 22,776 will signal corrective consolidation within the 22,200-22,750 range. While a breach below the almost identical low of April 2026 and last week's low of 22,180 will open further downside towards the CY25 low of 21,750, said Mukherjee.
Pabitro Mukherjee recommends the following five stocks to buy for up to six months:
According to Mukherjee, Axis Bank stock has moved above the 50-day EMA and formed a breakout above a falling trendline connecting the highs of June and September 2026, signalling strength and a resumption of the uptrend.