Top stocks to buy today: Stock recommendations for January 1
Top stock market recommendations: Aakash K Hindocha of Nuvama Professional Clients Group recommends buying BHEL, IOC, and Gujarat Mineral Development Corporation. He also shares his views on Nifty and Bank Nifty.
Top stocks to buy (AI image)
Top stock market recommendations: According to Aakash K Hindocha, Deputy Vice President - WM Research, Nuvama Professional Clients Group, the top buy calls for today are: Gujarat Mineral Development Corporation (GMDC), Bharat Heavy Electricals Ltd (BHEL), and Indian Oil Corporation (IOC). Here’s his view on Nifty, Bank Nifty, and the top stock picks for January 1, 2026:Index View: Nifty & Bank NiftyNifty has bounced strongly from its 3-month rising trend line support seen at 25,860 - 25,880. The required follow through was seen in yesterday’s session as Nifty managed to climb more than 200 points.
Now, a close above 26200 will lead to strong momentum for the next 500-600 points rally.Bank Nifty also managed to close above its previous resistance high of 59500. A break above such strong resistance would lead to strong momentum in coming days. A strong spurt of 2-3% in a short span of time can be achieved in coming days
Stock recommendations:
GMDC (BUY):
- LCP: 598
- Stop Loss: 564
- Target: 690
Gujarat Mineral Development Corporation’s stock has bounced back strongly from its 20-day moving average with strong volumes.
With this, stock is less than 10% away from its all-time high levels. The next leg can see stock gathering momentum and move strongly past its all-time high levels.BHEL (BUY):
- LCP: 287.0
- Stop Loss: 274
- Target: 310
Bharat Heavy Electricals Ltd’s stock has been consolidating in a pennant for all of December. The consolidation is placed at the retest of a prior breakout, tilting the odds in the favour of an upside break. Furthermore, constant demand from the lower bound of the pennant also adds a layer of confidence.
Indian Oil Corporation (BUY):
- LCP: 166
- Stop Loss: 160
- Target: 190
IOC stock has bounced strongly from its 20-day moving average supported by strong volumes. The current consolidation around its all-time high level looks to complete soon. A close above 180 will lead to strong momentum and one can see the next 10% move in a very short span of time.(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)