Bajaj Broking Research Recommends IndusInd Bank and IIFL Finance for One-Month Gains
In a recent market analysis, Bajaj Broking Research has identified two stocks as prime buying opportunities for investors with a one-month time horizon. The brokerage firm has recommended IndusInd Bank and IIFL Finance, providing detailed technical insights and price targets. Additionally, the research includes comprehensive views on the broader market indices, Nifty and Bank Nifty, highlighting key levels and potential movements amid ongoing global uncertainties.
Market Outlook: Nifty and Bank Nifty Analysis
The Indian benchmark indices experienced a significant rebound during the week, driven by positive global sentiment. This surge was triggered by U.S. President Donald Trump's announcement of a two-week ceasefire agreement with Iran, which temporarily eased tensions in the Middle East. Nifty rallied over 3.5% in a single trading session, reflecting the optimistic market mood.
However, investor caution resurfaced on Thursday following renewed geopolitical strife. Israel executed heavy strikes on Lebanon, prompting threats of retaliation from Iran. Tehran also indicated that continuing negotiations with the United States for a permanent peace deal might be unreasonable, casting doubts on the sustainability of the recent de-escalation.
After a sharp upward move of approximately 1,800 points in just four sessions, Nifty is expected to consolidate within the range of 23,100 to 24,000. This consolidation phase is likely as the Q4FY26 earnings season commences, with stock-specific actions influencing market dynamics. On the upside, a break above 24,000 could propel the index towards 24,300 and 24,700 levels in the coming weeks. Immediate support for Nifty is positioned at 23,100 to 23,450, a confluence of the Wednesday gap area and the 20-day Exponential Moving Average (EMA). Sustaining above this support zone will maintain the current pullback trend intact.
Market participants are advised to consider utilizing dips to build long positions, targeting upside levels of 24,300 and 24,700. Short-term downside support is revised to the 22,500–22,700 zone, aligning with the current week's low and the 61.8% retracement of the recent four-session rally. Volatility is anticipated to remain elevated due to uncertain global cues, firm crude oil prices, and ongoing geopolitical developments.
Bank Nifty Consolidation and Levels
Bank Nifty, after a robust gain of around 5,700 points in four sessions, is projected to consolidate between 52,500 and 55,700. A move above 55,700 could unlock further upside towards 56,300 and 57,000 levels. Immediate support lies at 52,500 to 53,500, combining the Wednesday gap area and the 20-day EMA. Maintaining above this support will uphold the current bullish trend.
Investors may look to capitalize on dips to establish long positions, with potential targets at 56,300 and 57,000. Short-term support has been adjusted higher to the 51,000–51,500 range, based on the current week's low and the 80% retracement of the last four sessions' advance.
Stock Recommendations: Detailed Analysis
IndusInd Bank
Buy Range: ₹810.00–830.00
Target: ₹909
Return: 11%
Stop Loss: ₹778
Time Period: 1 Month
IndusInd Bank has demonstrated technical strength by breaking out above a falling channel and moving above the 20-day EMA, signaling a fresh entry opportunity. Buying demand has emerged from the support area of ₹760–780, which represents the 80% retracement of the previous major rally from ₹710 to ₹968. The stock is expected to advance towards the target of ₹909, corresponding to the previous breakdown area and the 80% retracement of the recent decline from ₹968 to ₹751.
IIFL Finance
Buy Range: ₹440–450
Target: ₹498
Return: 12%
Stop Loss: ₹424
Time Period: 1 Month
IIFL Finance is rebounding from a key support zone of ₹415–425, offering a favorable risk-reward setup for new entries. This support area is significant as it aligns with previous major lows and the 200-week EMA, which has historically acted as a strong support level. The stock is anticipated to move towards the target of ₹498, representing the 100-day EMA and the 50% retracement of the recent breather from ₹566 to ₹421.
Disclaimer: Recommendations and views on the stock market, other asset classes, or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.
