You can enable
menu-complete in Bash to step through the entries on the command line each time you press Tab. This is not really what you're looking for. If you want to try it, do this at the command prompt:
bind '"\C-i": menu-complete'
To make it persist, add this to your
Zsh has a feature that allows you to use the arrow keys to select an entry. Add this (or another variation) to your
zstyle ':completion:*' menu select=0
man zshcompsys and search for "select=" (it will be in the section for the
menu "Standard Style") for more information.
Otherwise, in Bash, you could write a function (or even create your own completion function) that would do something based on the
select command. This is extremely simplistic:
$ select a in x y z; do cd $a; done
You'd have to flesh that out a lot to get it to do what you want.