Leading brokerage firm Bajaj Broking Research has identified two key stocks for investors to consider on December 5, 2025. The firm's latest analysis highlights Max Healthcare Institute Ltd and Tata Power Company Ltd as its primary recommendations. This comes alongside a detailed technical perspective on the benchmark Nifty and the Bank Nifty indices, which are navigating a phase of consolidation after recent record highs.
Nifty and Bank Nifty: Consolidation Phase with a Positive Bias
Indian equity benchmarks spent the previous week moving within a narrow range, absorbing the strong gains made in recent weeks. The Nifty index managed to touch a fresh lifetime peak of 26,325 points during Monday's trading session. However, the momentum faded at these elevated levels as investors opted to book profits.
This profit-taking was partly triggered by renewed pressure on the Indian rupee, which weakened to a historic low against the US dollar. Persistent selling by foreign portfolio investors (FPIs) added to the currency's weakness, introducing a note of caution in market sentiment.
In the immediate future, the market's direction is expected to depend heavily on the stability of the rupee and whether it finds a solid base. Additionally, all eyes are on the Reserve Bank of India's upcoming monetary policy announcement for clues on inflation control, liquidity measures, and potential steps to support the currency. Globally, the US Federal Reserve's policy decision will be a major catalyst, influencing expectations about interest rate differences and international fund flows.
Bajaj Broking notes that the Nifty's upward movement over the past two months has stayed neatly within a rising channel on daily charts, signaling consistent buying interest. The firm views the current 3-4 session pause as a chance to accumulate quality stocks in a phased manner. They project the next upward leg to initially target 26,500, followed by 26,800 in the coming weeks.
Key support for the Nifty is seen between 25,700 and 25,900, a zone combining the 50-day Exponential Moving Average, a bullish gap from November 12, and the lower boundary of the two-month rising channel. As long as the index holds above this support, the overall outlook remains positive.
Bank Nifty Range-Bound Ahead of RBI Policy
The Bank Nifty also traded in a range last week, digesting its robust gains from the prior four weeks. The index achieved a new all-time high of 60,114 earlier in the week before succumbing to profit-booking.
The research team anticipates the index to consolidate and build a base in the 58,500 to 60,100 range in the near term. A sustained move above Monday's high of 60,114 could trigger further upside towards 60,400 and eventually 61,000. The index's up-move is also well-channeled, indicating sustained demand. Crucial support is placed between 58,300 and 58,600.
Stock-Specific Recommendations and Rationale
Bajaj Broking Research has provided specific buy ranges, targets, and reasoning for its two top stock picks.
Max Healthcare Institute Ltd (Buy Range: ₹1,070 - ₹1,090)
The brokerage suggests buying Max Healthcare shares in the range of ₹1,070 to ₹1,090. The stock is seen forming a base around its 52-week Exponential Moving Average and the 61.8% Fibonacci retracement level of its previous major rally from ₹940 to ₹1,314. They believe the current decline is nearing maturity in terms of both price and time. The daily stochastic indicator is in extremely oversold territory, suggesting a potential rebound. The research sets a 6-month target price of ₹1,190, implying a potential return of approximately 10%.
Tata Power Company Ltd (Buy Range: ₹381 - ₹386)
For Tata Power, the recommended buy zone is between ₹381 and ₹386. The stock has been trading sideways on daily charts, oscillating in a well-defined band of ₹380 to ₹420, forming a rectangle pattern. Consistent buying support has emerged near the ₹380 mark. Historically, the stock has bounced back from these lower levels to test the upper band of the range. With the current price structure and renewed momentum, Bajaj Broking expects the stock to first challenge the ₹420 level and potentially extend gains to ₹430. This target aligns with the 127.2% Fibonacci extension of a prior price swing, offering a potential return of around 12% over a 6-month period.
Disclaimer: The recommendations, opinions, and views expressed are solely those of the brokerage research team and do not represent the views of The Times of India. Investors are advised to consult certified experts before making any investment decisions.
