Nuvama's Expert Stock Recommendations for February 5, 2026
In the dynamic landscape of the Indian stock market, expert insights provide crucial guidance for investors navigating volatility. According to Aakash K Hindocha, Deputy Vice President - WM Research at Nuvama Professional Clients Group, three stocks stand out as top buy calls for today: Petronet, MRPL, and CCL. His analysis offers a comprehensive view on market indices and specific equities, tailored for the trading session of February 5, 2026.
Market Index Outlook: Nifty and Bank Nifty
The Nifty has experienced a tumultuous start to this calendar month, with the India VIX witnessing a staggering over 80% gain in volatility since January 1, 2026. Despite large gap-up openings, sustainability has been a challenge, leading to expectations that the gap between last week's highs and this week's lows will be filled soon. Hindocha advises investors to view this gap as an opportunity to establish long positions, with support anticipated at the rising 200-day moving average (DMA). Targets for the Nifty are projected at 25,940 and 26,100, suggesting potential upside if these levels are achieved.
Turning to the Bank Nifty, it has already demonstrated the behavior expected from the Nifty, having tested last week's highs during yesterday's volatile session. A break below the current week's low, followed by a reversal near the 59,700 mark, is likely to present a chance to initiate fresh long positions. This is based on the observation that 59,650 has served as significant resistance over the past nine weeks and is now poised to act as support, aligning with classical technical analysis principles.
Detailed Stock Analysis and Buy Recommendations
Hindocha provides in-depth technical analysis for each recommended stock, outlining entry points, stop losses, and targets to help investors make informed decisions.
Petronet (BUY)
- Last Closing Price (LCP): 298
- Stop Loss: 287
- Target: 324
Following its initial breakout from a 15-month sloping trendline, Petronet had been trading within a narrow 6-8% band due to a lack of catalysts. However, with the stock now reclaiming the 200 DMA as support and closing at six-month highs, momentum buyers are expected to enter the fray. This setup indicates the potential for an 8-10% rally, making it an attractive buy opportunity for those seeking growth in the energy sector.
MRPL (BUY)
- Last Closing Price (LCP): 182
- Stop Loss: 171
- Target: 201
MRPL has shown remarkable resilience, recovering over 30% in the last nine trading sessions after bouncing off the 200 DMA support. Weekly charts reveal a repetitive higher low formation, signaling underlying strength. If the stock maintains its current market price until Friday's close, it is on track to close at 16-month highs on weekly charts. This milestone would mark the end of a two-year corrective phase, suggesting a bullish reversal and making it a compelling pick for investors.
CCL (BUY)
- Last Closing Price (LCP): 1002
- Stop Loss: 957
- Target: 1078
CCL has been consolidating with a negative bias for the past 12 weeks, correcting more than 15% from its all-time highs. The start of this calendar year saw lower high formations, but a recent trendline breakout this week indicates a shift. Prices are now pointing towards the beginning of a fresh upward movement, potentially retracing back to previous highs. This breakout presents a strategic entry point for investors looking to capitalize on renewed momentum in the stock.
Investment Disclaimer and Author Information
Disclaimer: The recommendations and views expressed in this analysis are solely those of the expert and do not represent the opinions of The Times of India. Investors are advised to conduct their own research or consult with financial advisors before making any investment decisions, as stock market investments carry inherent risks.
This report is compiled by the TOI Business Desk, a dedicated team of journalists committed to delivering timely and relevant business news. Their focus spans global industries, economic trends, and in-depth analysis to keep readers informed in the ever-evolving world of commerce.
