As Indian equity benchmarks faced weakness, with the BSE Sensex dipping below 75,000 and the Nifty50 falling under 23,500, select stocks are drawing attention for potential trading opportunities. Rajesh Palviya, Head of Research at Axis Direct, has provided detailed analysis and recommendations for Divis Laboratories, Mishra Dhatu Nigam (Midhani), and Data Patterns (India) Ltd ahead of Wednesday's trading session on September 9, 2026.
Data Patterns (India) Ltd: Bullish Momentum Noted
Recommendation: Buy
Data Patterns has shown significant strength, decisively breaking past multiple resistance zones around the Rs 4,870 level on daily charts, supported by substantial trading volumes. This indicates a strong resurgence of bullish sentiment. The stock is currently trading above its 20, 50, 100, and 200-day Simple Moving Averages (SMAs), all of which are trending upwards, reinforcing the bullish outlook.
- Target Price: Rs 5,060-5,250
- Stop Loss: Rs 4,750
- Support Zone: Rs 4,850-4,650
Further technical indicators, including a daily 'Bollinger Band' buy signal and favorable daily, weekly, and monthly Relative Strength Index (RSI) readings, suggest increasing momentum and strength across all timeframes. Investors are advised to consider buying and accumulating this stock.
Divis Laboratories Ltd: Sustained Uptrend
Recommendation: Buy
Divis Laboratories is exhibiting a robust uptrend across all timeframes, consistently forming higher tops and bottoms, signaling a sustained bullish trajectory. Similar to Data Patterns, Divis Labs is positioned above its 20, 50, 100, and 200-day SMAs, which are also rising in tandem with the price, confirming the strong trend.
- Target Price: Rs 9,800-9,900
- Stop Loss: Rs 9,290
- Support Zone: Rs 9,380-9,200
The stock benefits from favorable daily, weekly, and monthly RSI readings, alongside weekly and monthly 'Bollinger Band' buy signals, all pointing to increasing momentum. Axis Direct suggests that investors should consider buying, holding, and accumulating Divis Labs.
Mishra Dhatu Nigam (Midhani): Breakout Performance
Recommendation: Buy
Midhani has demonstrated a decisive breakout, surpassing its multi-month resistance zone around Rs 460 with significant trading volumes. This indicates heightened investor participation at the breakout level. The stock is currently trading above its key 20, 50, 100, and 200-day SMAs, with these averages also trending upwards, affirming the bullish trend.
- Target Price: Rs 490-530
- Stop Loss: Rs 445
- Support Zone: Rs 450-440
Daily and weekly 'Bollinger Band' buy signals, combined with favorable daily, weekly, and monthly RSI readings, underscore increasing momentum and strength across various timeframes. Investors are encouraged to consider buying, holding, and accumulating Midhani shares.
Disclaimer: This information is provided for educational and informational purposes only and should not be construed as investment advice. Readers are strongly encouraged to consult with a qualified financial advisor before making any investment decisions.