On June 11, 2026, Aakash K Hindocha, Vice President - Research at Nuvama Professional Clients Group/Nuvama Wealth Management, has issued stock market recommendations including buy calls for Bank of India and Gail (India) Ltd, and a sell call for Bajaj Auto. He has also shared his views on Nifty and Bank Nifty.
Bank of India (BUY)
LCP: 144.86
Stop Loss: 139
Target: 154
Following a massive eight-year breakout in October 2025, the stock has retested the same level multiple times over the past two months. Adding to this, a fresh six-week high closing was seen on daily charts earlier this week, reversing from the same price. The stock has also closed and is holding above its 200-day moving average (DMA), which could allow fresh upside to open up. A quick 6-8% upside is expected on a short-term bounce from this price.
Gail (India) Ltd (BUY)
LCP: 168
Stop Loss: 161
Target: 182
After an 18-month breakout in April 2026 on weekly charts, a fresh 11-month breakout is also seen on daily charts of GAIL. Both breakouts, despite being on different timeframes, hover around the same price of approximately 165. Additionally, a 200 DMA crossover is observed this week after a gap of seven months, as the stock had traded below it since November 2025. Combining the multi-timeframe trendline breakout, 200 DMA crossover, and higher lows over the past three months opens the door for a fresh 8-10% upside.
Bajaj Auto (SELL)
LCP: 10144
Stop Loss: 10600
Target: 9700
The stock has witnessed its lowest closing in the past one month of trade, retracing 30% of its recent rally from 8.6k to 10.8k between April and May 2026. Bajaj Auto has been in a rising channel formation for the past 12-15 months and has faced rejection and a double top formation on the higher bar of this channel. A realistic short-term target is seen approaching the lower end of this channel near the 9700 mark, while a break and close below that level could attract a further 2-3% downside.
Index View: Nifty
Nifty has been rotating its stance between 23100 and 23400, not breaking on either side on a weekly closing basis. Overall, buying has repeatedly emerged from its previous gapped zone below 23150; however, sustaining above 23400 is finding profit takers. The structure is biased toward upside, with only a trigger awaited from steps on liquidity easing domestically and reduced news flow from West Asia. Unless 23000 is convincingly taken down, the structure remains valid for a large upside, but momentum is likely to commence only above 23600 on the index.
Bank Nifty
On the Bank Nifty front, both of its short-term targets of 54600 and 55200-55450, highlighted last week, have been met after its support reversal near 53500. Broadly, this short-term strength is complete, and post this, Nifty can take over charge from Bank Nifty in terms of outperformance. Tuesday's low of 54200 becomes an important short-term support for Bank Nifty. US CPI numbers can continue to churn volatility in global markets.
(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.)
