Bajaj Broking Research Highlights Top Stock Picks for March 2026
In a recent market analysis, Bajaj Broking Research has identified Granules India and RBL Bank as the top two stock recommendations for March 27, 2026. This comes alongside detailed views on the Nifty and Bank Nifty indices, which have shown a strong rebound driven by improving global sentiment and potential de-escalation in Middle East tensions.
Nifty Index Outlook: Consolidation Amid Geopolitical Uncertainty
The Indian benchmark indices, particularly the Nifty, staged a robust recovery over the past two trading sessions. This rebound was fueled by optimism surrounding diplomatic efforts to resolve the ongoing conflict in the Middle East, involving joint U.S.-Israeli forces and Iran. Reports indicate that U.S. President Donald Trump is actively pursuing a 15-point peace proposal, aimed at easing hostilities and restoring regional stability. While this has buoyed investor confidence, the lack of official confirmation from Iran introduces an element of uncertainty.
The prospect of mediated talks has contributed to a decline in oil prices, which had been elevated due to the conflict. However, volatility is expected to remain high in the near term, influenced by firm crude oil prices, geopolitical tensions, and uncertain global cues. The Nifty is likely to consolidate within a range of 22,400 to 23,850 in the coming sessions.
Technically, the Nifty rebounded from extreme oversold conditions on both daily and weekly oscillators. A move above Wednesday's high of 23,465 could extend the pullback towards 23,800 levels. For a meaningful pause in the downtrend, the index needs to form a sustained higher high–higher low structure on the daily chart and close above last week's high of 23,862. On the downside, a breach below the current week's low of 22,471 may trigger further declines towards 22,100 and 21,800 levels.
Bank Nifty Analysis: Similar Rebound with Elevated Volatility
Bank Nifty also experienced a strong rebound in the last two sessions, mirroring the Nifty's performance amid signs of possible de-escalation in Middle East tensions. Volatility is anticipated to stay elevated, driven by rising geopolitical risks and crude oil prices, which continue to weigh on overall market sentiment. The index is expected to consolidate in the range of 51,400 to 54,800 in the near term.
Going forward, strength above Wednesday's high of 54,150 could open up further pullback towards 54,800 levels. To signal a pause in the downward trend, the index must form higher highs and higher lows on a sustained basis and close above 54,700. On the downside, a breach below 51,400 may lead to further declines towards 50,700 and 50,000.
Stock Recommendations: Granules India and RBL Bank
Granules India: Bajaj Broking recommends buying in the range of ₹620.00 to ₹632.00, with a target price of ₹685, offering a potential return of 10%. The stop-loss is set at ₹588, and the time period is one month. The share price has broken out above a three-month consolidation range of 625-560, indicating strength and providing a fresh entry opportunity. This breakout is supported by strong volume, suggesting larger participation. The daily 14-period RSI is in an uptrend, rebounding and taking support at its nine-period average, validating a positive bias.
RBL Bank: The recommendation is to buy in the range of ₹298 to ₹305, with a target price of ₹330, offering a 10% return. The stop-loss is ₹287, and the time period is one month. The stock has formed a potential double bottom around ₹290 levels and surged above the 50-day EMA, presenting a fresh entry opportunity. It has also broken out above the last nine days' range, signaling positive bias. The daily 14-period RSI has generated a buy signal by moving above its nine-period average, further validating the optimistic outlook.
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.
