Bajaj Broking Research Unveils Top Stock Picks for February 2026
In a recent market analysis, Bajaj Broking Research has identified Tata Power and Manappuram Finance as its top stock recommendations for February 13, 2026, with a three-month investment horizon. The brokerage firm also shared its detailed views on the Nifty and Bank Nifty indices, highlighting a cautiously optimistic market outlook supported by improving macroeconomic indicators and stabilizing foreign inflows.
Market Overview: Nifty and Bank Nifty Analysis
Indian benchmark indices traded within a narrow range during the week, exhibiting a positive bias amid supportive domestic cues. Market sentiment remained constructive, underpinned by a revival in Foreign Institutional Investor (FII) inflows. After a phase of sustained outflows, FIIs have turned net buyers, reflecting renewed confidence in India’s macroeconomic fundamentals. The continuation of these inflows is expected to lend further support to equities, particularly in light of improving GDP growth expectations.
Investor attention has gradually shifted toward the concluding phase of the third-quarter earnings season. Market participants are closely evaluating corporate earnings performance and forward-looking management commentary to gauge the sustainability of earnings growth. Additionally, upcoming inflation data will be a key monitorable in both India and the US, as it may influence expectations regarding the Reserve Bank of India’s and US Federal Open Market Committee’s future rate decisions.
Developments related to proposed trade agreements also remain in focus, with reports suggesting that the final contours are nearing completion. Greater clarity on this front could provide incremental direction to the markets in the near term. Overall, the market undertone remains cautiously optimistic, supported by improving macroeconomic indicators and stabilizing external flows.
Technical Outlook for Nifty
Post the RBI monetary policy outcome, Nifty rebounded from the support area of the 20-day Exponential Moving Average (EMA) and tested the immediate resistance area of 26,000 in Wednesday’s session. Going forward, if the index sustains above the key psychological level of 26,000, it could open upwards toward the key resistance area of 26,200–26,300 in the coming sessions. However, if it fails to move above the 26,000 levels, the index is likely to consolidate in the range of 25,500-26,000.
The overall outlook remains positive, and market dips should be seen as buying opportunities. Immediate support is placed at 25,500–25,400, which aligns with last week’s breakout area and the 20-day EMA. Volatility is likely to remain elevated amid uncertain global cues and rising crude oil prices.
Technical Outlook for Bank Nifty
Bank Nifty traded in a range with a positive bias during the current week. PSU banking stocks extended their outperformance. Going ahead, a move above 61,000 levels will lead to further upside toward the 61,400 and 61,800 levels in the coming sessions. Failure to move above 61,000 will signal some consolidation in the range of 59,800-60,800 levels.
The bias remains positive, and dips should be used as buying opportunities, with short-term support seen at 59,500-59,200 levels, being the confluence of the 20- and 50-day EMAs. Volatility is likely to remain elevated amid uncertain global cues.
Stock Recommendations: Detailed Analysis
Tata Power
- Buy Range: ₹373-381
- Target: ₹413
- Stop Loss: ₹358
- Expected Return: 9.50%
- Time Period: 3 Months
The stock is at the cusp of generating a breakout above a falling supply line joining the highs of October 2025 and January 2026, signaling a resumption of the up move and offering a fresh entry opportunity. We expect the stock to head towards 413 levels in the coming quarters, being the high of October 2025 and the upper band of the last 12 months range. The daily 14-period RSI is in an uptrend and is seen sustaining above its nine-period average, thus supporting the positive bias in the stock.
Manappuram Finance
- Buy Range: ₹300-310
- Target: ₹332
- Stop Loss: ₹289
- Expected Return: 9%
- Time Period: 3 Months
Buying demand is seen emerging from the 52-week EMA and the previous major low of October 2025, signaling strength and offering a fresh entry opportunity. The stock during last week formed a bullish engulfing candle, signaling strength and opening upside towards 332 levels, being the 123.6% external retracement of the previous decline. The daily 14-period RSI is seen rebounding, taking support at its nine-period average, thus supporting the positive bias in the stock. The weekly stochastic has generated a buy signal.
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.
