Bajaj Broking Unveils Key Stock Recommendations for April 2026
In a recent analysis, Bajaj Broking Research has identified Reliance Industries and Varun Beverages as its top stock recommendations for April 17, 2026. These picks are based on detailed technical assessments, highlighting favorable risk-reward profiles and potential for significant returns in the coming months.
Reliance Industries: A Bullish Reversal on the Horizon
Reliance Industries is recommended as a buy in the price range of ₹1,330 to ₹1,350. The stock has experienced a corrective phase over the past three months and is currently consolidating near a crucial support zone of ₹1,270 to ₹1,300. This technical setup suggests a potential bullish reversal, positioning the stock for an uptrend.
Key Technical Factors:
- The ₹1,270–₹1,300 range acts as a strong support area, reinforced by the 61.8% retracement of the previous up move from April 2025 to January 2026 (₹1,115 to ₹1,611).
- The 200-week Exponential Moving Average (EMA) around ₹1,292 has historically served as a demand zone for the stock.
With the corrective phase nearing exhaustion, analysts anticipate a resumption of the uptrend. The target price is set at ₹1,474, representing a 10% return over a six-month period. This target aligns with the high of February 2026 and the 61.8% retracement of the recent decline from ₹1,611 to ₹1,290.
Varun Beverages: Breakout Signals Strength
Varun Beverages is advised as a buy in the range of ₹455 to ₹465. The stock has recently broken out above a falling channel that contained its decline over the last three months, indicating renewed strength and offering a fresh entry opportunity. The formation of a higher high and higher low pattern signals the resumption of an upward move after recent corrections.
Investment Outlook:
- The target price is ₹503, which implies a 9% return over three months.
- A stop-loss is recommended at ₹429 to manage risk.
- This target corresponds to the 80% retracement of the previous decline from ₹534 to ₹381.
This breakout suggests that Varun Beverages is poised for further gains, making it an attractive option for investors seeking short to medium-term growth.
Important Disclaimer
Please note that the recommendations and views provided by experts are their own and do not represent the opinions of The Times of India. Investors should conduct their own research or consult financial advisors before making any investment decisions.
