Bajaj Broking Recommends 5 Stocks With Strong Technical Setups And Growth Potential

Indian equity markets have remained volatile in recent weeks, with the NIFTY 50 trading near the 23,000 to 24,500 range. Despite market uncertainty, Bajaj Broking believes select stocks are showing strong technical strength and favorable risk-reward setups for medium-term investors. According to technical analyst Pabitro Mukherjee, these stocks could deliver returns ranging from 12% to 16% over the next six months. 

Bajaj Broking’s 5 Stocks With Strong Technical Setups And Growth Potential

1. GRSE: Defense Stock Showing Strong Base Formation

Garden Reach Shipbuilders & Engineers (GRSE) remains one of Bajaj Broking’s top picks due to its strong long-term uptrend and healthy correction from recent highs.

• Current Buy Range: ₹2,570 to ₹2,630
• Target Price: ₹2,918
• Stop Loss: ₹2,440
• Potential Upside: Around 12%

The stock corrected nearly 21% from its high of ₹3,339 and has now formed a strong support zone near the 200 Day EMA at ₹2,570. Rising defense orders and government focus on indigenous shipbuilding continue to support the long-term outlook.

2. PFC: Power Finance Giant Near Breakout Zone

Power Finance Corporation (PFC) has emerged as a technically strong PSU stock after consolidating for several weeks.

• Current Price Zone: ₹430 to ₹450 range
• Target Price: Up to ₹500
• Potential Upside: Around 11%

Why is PFC attracting attention?

The stock is witnessing higher lows and strong institutional participation. Bajaj Broking believes a sustained move above resistance levels could trigger fresh momentum. Strong loan growth and continued power sector investments remain key business drivers.

3. Kotak Mahindra Bank: Banking Major Holding Key Support

Kotak Mahindra Bank remains one of the preferred private banking names in the current market.

• Current Trading Range: Above ₹2,100
• Expected Upside: 12% to 14%

The stock continues to trade above major moving averages and is showing relative strength compared to the NIFTY Bank Index. Improving credit growth, stable asset quality, and expectations of lower interest rates could support further gains.

4. Eternal: Growth Stock Showing Fresh Accumulation

Eternal has entered Bajaj Broking’s recommended list after displaying strong accumulation patterns.

• Expected Upside: Up to 16%

The stock has spent several weeks consolidating and is now showing signs of renewed buying interest. Technical indicators suggest that investors are accumulating shares near support levels, creating the possibility of a fresh upward move.

5. Bharat Electronics Limited: Defense Theme Continues To Shine

Bharat Electronics Limited (BEL) remains a favorite among analysts due to its strong order book and consistent earnings growth.

• Expected Upside: 12% to 15%

BEL continues to benefit from India’s defense modernization plans. Technically, the stock remains above key support zones and is witnessing strong volume participation. Healthy margins and a growing execution pipeline add further confidence to the bullish outlook.

Quick Technical Comparison

Stock	Upside Potential	Sector	Key Trigger
GRSE	12%	Defense	Strong support near ₹2,570
PFC	11%	PSU Finance	Breakout above resistance
Kotak Mahindra Bank	12% to 14%	Banking	Strong relative strength
Eternal	Up to 16%	Growth Stock	Fresh accumulation
BEL	12% to 15%	Defense Electronics	Robust order pipeline

What Makes Bajaj Broking Positive On These Stocks?

MSN and other leading market channels have highlighted growing interest in technically strong stocks as broader markets consolidate. NIFTY Smallcap has already gained more than 18% in FY27, compared with roughly 4.3% gains in the NIFTY 50, showing that stock selection remains critical in the current market environment. Bajaj Broking believes quality stocks with strong support zones and breakout formations can outperform the benchmark indices. 

Expert Market Outlook From Bajaj Broking

Bajaj Broking expects the market to remain range-bound in the near term, with immediate NIFTY support seen around 23,000 to 23,200. A move above 24,100 could open the path toward 24,500, creating favorable conditions for technically strong stocks. Within this framework, the brokerage’s five stock recommendations stand out because they combine sector-specific growth triggers with attractive chart structures. Investors should focus on disciplined entry levels, maintain stop losses, and track volume confirmation before taking positions. For medium-term investors with a six-month horizon, these stocks offer exposure to banking, defense, infrastructure, and financial themes that continue to attract institutional interest. While upside projections range between 11% and 16%, risk management remains equally important, as market volatility and global developments can influence short-term price action.

Disclaimer

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.