Stock market recommendations: According to Bajaj Broking Research, the top stock picks for January 16, 2026 are RBL Bank, and UPL. Here’s its view on Nifty and Bank Nifty:
Index View: NIFTY
Benchmark indices traded with a downward bias as investors remained cautious amid a risk-off environment. Persistent selling by foreign institutional investors (FIIs), coupled with escalating geopolitical tensions in regions including Venezuela, Greenland, and Iran, weighed on market sentiment. Additionally, investors are closely tracking the ongoing Q3FY26 earnings season and developments related to India–US trade negotiations. The combination of global uncertainties, geopolitical risks, and trade-related concerns led to elevated risk aversion, resulting in subdued market performance.
The index traded with heightened volatility and formed a bearish candle during Wednesday’s session, marking a lower high and lower low. This price action indicates ongoing consolidation amid increased stock-specific movements, as the Q3FY26 earnings season gets underway.
Nifty is currently consolidating near its 100-day exponential moving average (EMA). On the downside, Monday’s panic low of 25,473 is expected to serve as an immediate key support level. On the upside, the 25,950–26,050 zone is likely to act as immediate resistance, as it coincides with the 20-day EMA and the 61.8% Fibonacci retracement of last week’s decline.
Overall Nifty is likely to consolidate in the range of 26000-25,500 only a breakout or a breakdown will signal the next directional move
BANKNIFTY
Bank Nifty continues to outperform the Nifty, displaying clear relative strength as it continues to consolidate around 60000 levels.
Index during current week is seen rebounding from the lower band of the last five weeks range placed around 58700-59000. Going ahead a follow through strength above Wednesday’s high (59,796) will open upside towards the recent all time high of 60,430 levels in the coming week. Overall, we expect the index to extend the consolidation within the 58,700–60,400 range. A decisive breakout above this range or a breakdown below it will provide clarity on the next directional move.
The key short-term support zone lies at 59,000–58,700. This area is significant as it represents a confluence of the 50-day EMA and the previous month’s low, making it a crucial level to watch.
Stock Recommendations:
RBL Bank
Buy in the range of ₹ 305-314
| Target | Return | Stoploss | Time Period |
| ₹ 335 | 9% | 291 | 3 Months |
The stock is rebounding taking support at the previous major breakout area signaling a change of polarity thus offers fresh entry opportunity.
On the downside key support is placed at 295-293 levels being the confluence of the recent breakout area and 100 days EMA.We expect the stock to head towards 335 levels being the recent high of October 2025. The
UPL
Buy in the range of 767-783
| Target | Return | Stoploss | Time Period |
| ₹ 845 | 9% | 734 | 3 Months |
We expect the stock to head higher towards 845 levels being the 161.8% external retracement of the previous breather (812-761).
On the lower side key support is placed at 735-740 levels being the confluence of the 100 days EMA and the recent breakout area.
(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)Market sentiment for January 16, 2026, shows a focus on quarterly earnings and specific sector strength in Information Technology (IT) and Banking. While benchmark indices like the Nifty and Sensex closed marginally higher, the session was defined by high volatility and stock-specific action.
Below is a curated list of stock recommendations and market trends based on research reports from major brokerages for today.
🚀 Top Buy Recommendations
| Stock | Recommendation | Entry Range (₹) | Target (₹) | Stop Loss (₹) | Timeframe |
| RBL Bank | Buy (Bajaj Broking) | 305 – 314 | 335 | 291 | 3 Months |
| UPL | Buy (Bajaj Broking) | 767 – 783 | 845 | 734 | 3 Months |
| Federal Bank | Buy (Market Gain) | CMP (LTP) | — | — | Intraday |
| Hindustan Zinc | Buy (Mirae Asset) | 623 – 624 | 750 | 558 | Short Term |
📉 Top Gainers & Losers (Jan 16)
The IT sector led the rally today, while consumer tech and metals faced selling pressure.
Gainers
Infosys: 🔼 5.58% (Strong AI outlook and Q3 performance)
Tech Mahindra: 🔼 5.26%
Federal Bank: 🔼 9.00% (Surged post-market updates)
Wipro: 🔼 2.54%
Losers
Eternal (Zomato): 🔽 3.76%
Jio Financial Services: 🔽 3.15% (Profit dropped 9% YoY)
Cipla: 🔽 2.54%
Hindalco: 🔽 2.44%
🔍 Key Market Trends to Watch
IT Sector Strength: Technology stocks are seeing renewed interest as companies like TSMC and Infosys forecast robust AI-driven growth for 2026.
Oil & Gas Impact: Crude oil prices fell significantly (Brent near $63), which is a positive catalyst for paints, aviation, and tyre stocks (e.g., Asian Paints, Indigo) but a drag on upstream companies like ONGC and Reliance.
Geopolitical Risks: Traders are monitoring trade negotiations between India and the US, alongside geopolitical tensions in Venezuela and Iran, which have kept foreign institutional investors (FIIs) cautious.
Upcoming Earnings: Focus remains on Q3 results. Watch for upcoming announcements from Reliance Industries (RIL) and Tech Mahindra to set the tone for next week.
💡 Long-term "Core" Picks for 2026
For investors looking beyond today, analysts highlighted these blue-chip stocks as solid foundation holdings:
Reliance Industries (RIL): Strong growth engines in retail and digital.
HDFC Bank: Stability and consistent profitability in the private banking space.
TCS: A low-risk bet on global digital transformation and AI integration.
Disclaimer: Stock investments are subject to market risks. Always consult with a certified financial advisor before making any investment decisions.
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