Bajaj Broking Research has identified Garden Reach Shipbuilders & Engineers (GRSE) and NBCC as the top stocks to buy on May 22, 2026. The recommendations come with specific buy ranges, targets, stop-loss levels, and time horizons based on technical analysis.
Garden Reach Shipbuilders & Engineers (GRSE)
GRSE is recommended for purchase in the range of ₹2640–₹2700, with a target price of ₹2918, offering a potential return of 9%. The stop-loss is set at ₹2520, and the recommended holding period is six months.
Technical Analysis for GRSE
The stock is currently exhibiting base-building price action around the key demand zone of ₹2500–₹2600. This zone represents a confluence of multiple technical factors supporting a potential reversal:
- 61.8% retracement of the previous rally from April 2026 (1964–3339)
- 200-day exponential moving average (EMA) placed around ₹2560
- The previous major trendline breakout area, joining the highs of June 2025 (3538) and February 2026 (2844), is around ₹2550. This level is expected to reverse its role and act as support in the medium term, according to the change of polarity concept.
The corrective phase over the last two weeks is interpreted as a higher base formation, setting the stage for the next impulsive leg on the upside. The stock is expected to head towards ₹2918 in the coming quarters, which is the 61.8% retracement of the recent decline from ₹3339 to ₹2550.
NBCC
NBCC is recommended for purchase in the range of ₹91.00–₹93.50, with a target price of ₹101, offering a return of 9%. The stop-loss is set at ₹88.50, and the recommended holding period is one month.
Technical Analysis for NBCC
The share price of NBCC is consolidating around the 50-day EMA and the previous bullish gap area of April 15, 2026, providing a fresh entry opportunity with a favorable risk-reward setup. The stock is expected to hold above the support area and gradually move towards ₹101, which is the confluence of the recent high and a key retracement of the previous decline. Additionally, the daily stochastic indicator has generated a buy signal by moving above its three-period average, validating the positive bias in the stock.
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