The Indian stock market started 2026 on a strong note, with the Nifty 50 hitting a new all‑time high above 26,200.
Market overview
Broad buying interest lifted banks, auto, metal and PSU stocks. Liquidity stayed strong, helping absorb some profit‑taking. Optimism about upcoming third‑quarter earnings and confidence in India’s growth story kept the market bullish, even as FMCG stocks faced some pressure.
Analyst outlook
Sumeet Bagadia, executive director at Choice Broking, says the market mood has improved after the Nifty crossed the 26,200 resistance. He expects the index to move toward 26,550‑26,600, with immediate support at 26,050. He advises a “buy‑on‑dips” approach as long as that support holds.
Stocks to watch
BEL (Bharat Electronics)
- Buy price: ₹403
- Target: ₹435
- Stop‑loss: ₹388
The share is holding near ₹403 after a steady consolidation. It’s making higher highs and higher lows, suggesting the recent dip was only a correction. As long as it stays above ₹388, the upward trend looks intact.
ICICI Bank
- Buy price: ₹1,355
- Target: ₹1,444
- Stop‑loss: ₹1,315
The stock is in a short‑term pullback, sitting below key moving averages. A break above the 20‑day EMA at ₹1,357 could signal the start of a recovery. Stronger confirmation would be a close above ₹1,367, which aligns with longer‑term averages.
Reliance Industries
- Buy price: ₹1,592
- Target: ₹1,700
- Stop‑loss: ₹1,555
Reliance is on a firm uptrend and recently reached a fresh high. It’s trading well above all major averages, and volume supports the move. If it stays above the short‑term support level, the stock could climb toward ₹1,700.
Takeaway
With the Nifty breaking major resistance, analysts see room for further gains. The three stocks highlighted—BEL, ICICI Bank and Reliance—offer clear entry points for investors who want to ride the bullish wave.
Disclaimer: This information is for educational purposes only. It reflects the views of individual analysts, not financial advice. Please consult a qualified professional before making any investment decisions.