Bajaj Broking Research has identified Varun Beverages (VBL) and Eternal as top stock picks for May 29, 2026. The recommendations come with specific buy ranges, targets, and stoploss levels, backed by technical analysis.
Varun Beverages (VBL) Stock Recommendation
Investors are advised to buy Varun Beverages in the range of ₹526-536. The target price is set at ₹590, implying an 11% return, with a stoploss at ₹499. The recommended holding period is three months.
The stock is in an uptrend, forming higher highs and higher lows on weekly and monthly charts. It recently rebounded after taking support at its previous trendline breakout area, indicating a change of polarity and overall positive bias. On shorter timeframes, the stock is on the verge of breaking out above the last three weeks' range of 535-485, highlighting positive bias and offering a fresh entry opportunity.
Strong support exists at ₹510-500 levels, which is the confluence of the 20-day EMA and a key retracement of the previous up move. On the upside, the stock is expected to head towards ₹590, which represents the measuring implication of the recent range breakout and the high of February 2025.
Eternal Stock Recommendation
For Eternal, Bajaj Broking recommends buying in the range of ₹254.00-259.00. The target is ₹290, offering a 13% return, with a stoploss at ₹237. The time period is also three months.
The stock has recently broken out above a falling trendline connecting the highs of February and April 2026, indicating strength and creating a favorable entry opportunity. In the process, it has closed above its 20-day and 50-day EMAs, supporting the positive bias.
Going ahead, the stock is expected to move towards ₹290 over the coming months, which represents the 50% retracement of the entire decline from ₹368 to ₹213. Adding to the bullish setup, the daily MACD has given a buy signal by crossing above its 9-period average, suggesting improving momentum and supporting the positive bias.
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.
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