Looking for Indian shares that could deliver solid returns next year? A leading brokerage has identified ten companies that may climb 20%‑50% in 2026, even if the broader market stays choppy.
Why 2026 could be better for Indian equities
2025 was tough – US tariff worries, big foreign fund outflows, weak earnings and a wobbling rupee weighed on Indian markets. Analysts expect the situation to improve in 2026 thanks to faster earnings growth, a possible India‑US trade pact and the likely return of foreign investors. Still, a jump of more than 15% for the overall index looks unlikely because valuations remain high and geopolitics stay uncertain.
How to use these picks
The list below follows Nirmal Bang’s technical analysis. For each stock you’ll see the current price, a target price, a stop‑loss level and the upside potential. Think of them as "buy‑on‑dip" ideas – you can add more if the price falls toward the suggested entry.
Stocks Nirmal Bang recommends
Sequent Scientific
Current price: ₹195 | Target: ₹320 | Stop‑loss: ₹176 | Upside: ~50%
- Cup‑and‑handle pattern on monthly chart signals a bullish continuation.
- Higher highs and higher lows on the monthly chart show a steady uptrend.
- Volume expands on up‑moves, indicating buying interest.
Container Corporation of India (Concor)
Current price: ₹480 | Target: ₹770 | Stop‑loss: ₹440 | Upside: ~48%
- Long‑term correction formed a strong support zone around ₹490 (61.8% Fibonacci level).
- RSI above 40 on the weekly chart supports a near‑term bounce.
- Buy near ₹520 and add on dips down to ₹480.
One 97 Communications (Paytm)
Current price: ₹1,220 | Target: ₹1,870 | Stop‑loss: ₹1,095 | Upside: ~42%
- Broken out of an inverted head‑and‑shoulder pattern on the monthly chart.
- Price staying above the 50‑day and 200‑day moving averages.
- RSI above 60 signals strong momentum.
SRF
Current price: ₹2,940 | Target: ₹4,180 | Stop‑loss: ₹2,700 | Upside: ~34%
- Weekly chart shows a symmetrical triangle about to break upward.
- Trading in an upward‑rising channel on the monthly chart.
- RSI above 60 and price above key moving averages (50, 100, 200 DMA).
Birlasoft
Current price: ₹425 | Target: ₹600 | Stop‑loss: ₹400 | Upside: ~34%
- Weekly chart formed a triangle breakout.
- Positive RSI divergence suggests bullish bias.
- Higher volumes near lows indicate strong support buying.
Bharat Forge
Current price: ₹1,330 | Target: ₹1,870 | Stop‑loss: ₹1,230 | Upside: ~29%
- After a sharp fall from ₹1,900, the stock found support near ₹900 and is now climbing.
- Harmonic "bat" pattern’s CD leg points to a move toward ₹1,700‑₹1,800.
- Crossed the 200‑day moving average and showed a golden crossover of the 50/200 DMA in Oct 2025.
NBCC
Current price: ₹106 | Target: ₹155 | Stop‑loss: ₹96 | Upside: ~28%
- Weekly chart shows a symmetrical triangle breakout with strong buying volume.
- Price sits above the 61.8% Fibonacci extension level.
- RSI crossed above 50, confirming upward momentum.
Bank of Baroda (BoB)
Current price: ₹275 | Target: ₹360 | Stop‑loss: ₹260 | Upside: ~25%
- Two‑year resistance level broken after a brief consolidation.
- Short‑covering activity and lower open interest support a bullish bias.
- Buy on dips near ₹275; stop loss at ₹260.
R R Kabel
Current price: ₹1,440 | Target: ₹1,820 | Stop‑loss: ₹1,370 | Upside: ~22%
- Broken out of a symmetrical triangle with steady volume.
- Higher tops and higher bottoms on the weekly chart.
- RSI above 60 and MACD in positive territory confirm bullish sentiment.
Bajaj Auto
Current price: ₹8,650 | Target: ₹10,900 | Stop‑loss: ₹8,200 | Upside: ~20%
- Recovered from a sharp correction, now riding an upward‑rising channel.
- Price above the 200‑day moving average and supported by 50‑day and 100‑day DMA.
- Breakout from a bullish pennant pattern could push the stock higher.
Key takeaways
- The Indian market may stay volatile in 2026, but select stocks can still deliver strong returns.
- All picks have clear technical triggers, defined entry points and stop‑loss levels.
- Do your own homework and consider your risk tolerance before investing.
Remember, this is only a perspective, not a prediction. Always do your own research or consult a qualified financial adviser before making any investment decisions.