Nuvama's Expert Stock Recommendations for Today's Market
Aakash K Hindocha, Deputy Vice President - WM Research at Nuvama Professional Clients Group, has identified three standout stocks as top buy calls for today's trading session: BPCL, Power Grid, and SAIL. In addition to these specific picks, he provides a detailed technical analysis of the Nifty and Bank Nifty indices for February 12, 2026, offering insights into potential market movements and support levels.
Market Index Outlook: Nifty and Bank Nifty Analysis
Nifty Performance and Forecast
The Nifty index has shown resilience, ending with a cumulative gain of +1% over the first three days of this week, following a strong weekly close observed on the previous Friday. Despite this upward trend, the index has largely traded within a narrow 150-point range during these sessions. From a technical perspective, Nifty is currently viewed as a buy-on-dips candidate, with a key resistance level identified at 26,130. Support levels have been adjusted higher, now standing at 25,750, up from the previous 25,450. Notably, the index is forming a bullish inverted head and shoulder pattern on hourly charts over the past month, with a neckline positioned above 25,940, suggesting potential for further gains.
Bank Nifty's Outperformance
Bank Nifty has continued to outperform the broader Nifty, having reversed from last week's support below 59,700. The index is now poised to target levels of 60,800 and 61,500, with immediate support noted at 60,060. This support is expected to be trailed higher once Bank Nifty closes above the 60,800 mark, indicating sustained bullish momentum.
Detailed Stock Recommendations and Rationale
BPCL (BUY)
- Last Closing Price (LCP): 387
- Stop Loss: 370
- Target: 418
BPCL achieved its highest-ever weekly closing in the past week and has since attracted intraday buyers near the 380 level, which now serves as immediate support. Benefiting from positive tailwinds in the Public Sector Enterprise (PSE) and Oil Marketing Company (OMC) sectors, the stock is anticipated to continue its rally toward fresh all-time highs, potentially reaching 420 per share.
POWERGRID (BUY)
- Last Closing Price (LCP): 294
- Stop Loss: 282
- Target: 320
POWERGRID has exhibited a large candle breakout from an 18-month falling trendline, following a reversal from a 5-year rising trendline support. The stock recently went ex-dividend after crossing and sustaining above its 200-day moving average. With prices currently holding at a 3-month high, the ongoing rally is expected to gain further momentum on the upside.
SAIL (BUY)
- Last Closing Price (LCP): 162
- Stop Loss: 156
- Target: 174
SAIL has been trading within an upward-moving channel for approximately 55-60 weeks and has now broken out above the channel's highs, signaling the potential for a steeper rise. The stock has also closed at a fresh 20-month high on both daily and weekly charts. Supported by favorable trends in the metal and steel sectors, SAIL is likely to outperform other PSE stocks in the short term.
Disclaimer: The recommendations and views expressed in this article are solely those of the expert and do not represent the opinions of any affiliated organizations. Investors are advised to conduct their own research or consult with financial advisors before making any investment decisions.
