Stock market recommendations: HDFC Bank, and NBCC are the stocks that Bajaj Broking Research recommends buying on June 12, 2026. The brokerage also shares views on Nifty and Bank Nifty:HDFC BankBuy in the range of ₹ 730-750
The stock in the last two months is seen consolidating in a range thus forming a base after the previous decline. The stock is forming a base at the 80% retracement of the previous rally (676-1017).We believe the corrective decline of the stock is approaching maturity thus offers fresh entry opportunity with a favourable risk-reward set up.We expect the stock to head towards 820 levels in the coming month being the confluence of the high of April 2026 and the 38.2% retracement of the previous decline (994-727).The weekly stochastic has approached oversold territory, hence a pullback is likely in the coming weeks. NBCCBuy in the range of 100.00-102.00
NBCC has witnessed a strong recovery from its recent lows and continues to maintain a higher-high, higher-low formation in the monthly chart, indicating a positive trend and sustaining buying interest. The stock also managed to sustain above the 52-week EMA after a prolonged consolidation phase. Historically, this moving average has acted as a strong support zone for the stock, with previous rebounds leading to meaningful upside moves.The weekly 14-period RSI is sustaining above its 9-period signal line, indicating strengthening momentum and supporting the continuation of the ongoing uptrend. Going ahead, we expect the stock to head towards 115 level, which coincides with its previous swing high and is also close to the 80% retracement of the major decline from (125 to 77).Index View: NiftyBenchmark indices continue to trade in a range with corrective bias as persistent FII outflows, elevated oil prices and geopolitical uncertainties continue to weigh on investor sentiment.Nifty continues to consolidate in the broad range of 23,000-23,550. We expect the current consolidation to extend until a directional breakout emerges.In the last 2 weeks Nifty has rebounded on multiple occasions from the key support area of 23,000-23,200 being the confluence of the 61.8% retracement of the previous pullback (22,182-24,601) and lower band of the falling channel.On the higher side resistance is placed at 23,500-23,550 levels being the 61.8% retracement of the previous decline (24089-23070) and the 20 days EMA. A move above the same will open further upside towards 23,750-23,800 levels. A close below the support area of 23,000 will signal acceleration of the decline towards 22,600 levels in the coming week.From a structural perspective, the index is witnessing a gradual retracement. Over the past eight weeks, it has corrected only 61.8% of the sharp 11% rally seen in the preceding three weeks, indicating a healthy consolidation phase.Bank NiftyBank Nifty has relatively outperformed the Nifty in the last four weeks and is currently placed at the upper band of the last four weeks broad range 55,600-52,700.Index has recently generated a breakout above the falling trendline joining the last two months highs and is sustaining above its 20 days EMA signalling strength A decisive move above this level would confirm renewed buying momentum and open the path towards 56,500 and 57,000 levels in the coming weeks. Failure to do so will lead to some consolidation in the range of 53,800-55,600.On the downside, immediate support is positioned at 54,000–53,800 being the low of the current week and key retracement of the recent pullback. While key support is placed at 52,700-52,500 levels.(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.)
