The Indian economy enters 2026 in a Goldilocks phase marked by strong GDP growth, moderating inflation, and lower interest rates, creating a supportive environment for equities, analysts said.
The nominal GDP growth is expected to move into double digits, aiding a broad-based earnings recovery, while global trade uncertainty is expected to ease, with tariff reversals and an anticipated India–US trade deal in early 2026.
“2026 is shaping up as a Goldilocks year for India — where strong growth, falling rates, stable currency, and easing global risks combine to create a fertile backdrop for equities, led by metals, BFSI, capital goods, and defence,” HDFC Securities said in a report.
Nifty 50 Target for 2026
HDFC Securities expects Nifty 50 earnings growth for FY27 to be around 16%. It believes corrected valuations and historically low FPI positioning create scope for upside via short covering.
The brokerage firm has a Nifty target of 28,720 for 2026, expecting the benchmark to deliver 11% yearly return.
Stocks to buy
HDFC Securities has recommended seven stocks to buy in 2026. These technical stock picks for 2026 include Engineers India, Granules India, Indus Towers, KFin Technologies, NMDC, Rolex Rings and UPL.
Here are the technical stocks to buy in 2026:
Engineers India | Buy Range: ₹205-211 | Target Prices: ₹238, ₹272 | Stop Loss: ₹182
Engineers India stock price’s monthly long-term chart is indicating a formation of a converging triangle type pattern, and the stock price is currently placed at the bottom of the triangle. The stock price is placed above the cluster support, like the 10 & 20-month EMA, and the lower end of the triangle. Monthly 14-period RSI is in a gradual ascending mode, HDFC Securities said.
It recommends buying Engineers India in the range of ₹205-211, for target prices of ₹238 and ₹272, while maintaining a stop loss at ₹182 level on a closing basis. The timeframe for the trade is one year.
Granules India | Buy Range: ₹617-633 | Target Prices: ₹720, ₹803 | Stop Loss: ₹540
Granules India share price has been forming higher tops and higher bottoms on monthly charts. Price is holding above the rising 20-month SMA, indicating long-term trend strength. The stock has broken out and is sustaining above the breakout zone, confirming bullish structure.
Further, volumes are picking up, validating the ongoing up-move, and monthly RSI is crossing above 60, signaling strong bullish momentum. ADX is above 20, confirming the presence of a strong trend, and +DMI remains above −DMI, indicating clear bullish dominance, said the brokerage firm.
It suggests buying Granules India shares in the range of ₹617-633, with targets of ₹720 and ₹803, and stop loss at ₹540 level.
Indus Towers | Buy Range: ₹419-425 | Target Prices: ₹475, ₹505 | Stop Loss: ₹365
Indus Towers share price has broken out from a downward sloping trend line on the Weekly charts. The primary trend of the stock is bullish as it is placed above the 200 day EMA. The stock price has broken out on the daily chart with higher volumes, and is placed above all key moving averages, indicating uptrend on all time frames. Weekly RSI is sustaining above 50, indicating sustained uptrend for the underlying, according to HDFC Securities.
The brokerage has a ‘Buy’ call on Indus Towers shares in the range of ₹419-425, for target prices of ₹475 and ₹505. It suggests to keep a stop loss at ₹365 level.
KFin Technologies | Buy Range: ₹1,070-1,105 | Target Prices: ₹1,265, ₹1,375 | Stop Loss: ₹998
KFin Technologies share price holding above ₹1,050 confirms strong demand and rejection of lows. Near support entry offers a favorable risk–reward with 20–25% upside, said the brokerage firm.
Symmetrical triangle consolidation suggests a continuation breakout setup. Higher lows indicate strong accumulation and sustained buying interest. RSI near 50 shows bullish support with momentum turning up. MACD convergence signals a potential bullish crossover ahead, it added.
NMDC | Buy Range: ₹82.60-85 | Target Prices: ₹94, ₹104 | Stop Loss: ₹73.4
NMDC share price has witnessed a breakout from an inverted Head & Shoulders pattern. The stock price has been forming higher tops and higher bottoms on all degrees which bullish dow formation, and is trading above all key moving averages, indicating an uptrend across all time frames.
NMDC stock price has formed a strong bullish candle on the weekly chart, indicating strong bullish momentum. Overall price structure and pattern is looking bullish, said HDFC Securities.
Indus Towers | Buy Range: ₹419-425 | Target Prices: ₹475, ₹505 | Stop Loss: ₹365
Indus Towers share price has broken out from a downward sloping trend line on the Weekly charts. The primary trend of the stock is bullish as it is placed above the 200 day EMA. The stock price has broken out on the daily chart with higher volumes, and is placed above all key moving averages, indicating uptrend on all time frames. Weekly RSI is sustaining above 50, indicating sustained uptrend for the underlying, according to HDFC Securities.
The brokerage has a ‘Buy’ call on Indus Towers shares in the range of ₹419-425, for target prices of ₹475 and ₹505. It suggests to keep a stop loss at ₹365 level.
KFin Technologies | Buy Range: ₹1,070-1,105 | Target Prices: ₹1,265, ₹1,375 | Stop Loss: ₹998
KFin Technologies share price holding above ₹1,050 confirms strong demand and rejection of lows. Near support entry offers a favorable risk–reward with 20–25% upside, said the brokerage firm.
Symmetrical triangle consolidation suggests a continuation breakout setup. Higher lows indicate strong accumulation and sustained buying interest. RSI near 50 shows bullish support with momentum turning up. MACD convergence signals a potential bullish crossover ahead, it added.
NMDC | Buy Range: ₹82.60-85 | Target Prices: ₹94, ₹104 | Stop Loss: ₹73.4
NMDC share price has witnessed a breakout from an inverted Head & Shoulders pattern. The stock price has been forming higher tops and higher bottoms on all degrees which bullish dow formation, and is trading above all key moving averages, indicating an uptrend across all time frames.
NMDC stock price has formed a strong bullish candle on the weekly chart, indicating strong bullish momentum. Overall price structure and pattern is looking bullish, said HDFC Securities.
Rolex Rings | Buy Range: ₹125-132 | Target Prices: ₹155, ₹200 | Stop Loss: ₹109
Rolex Rings share price has made a double bottom pattern on the long term charts. Momentum readings like the 14-month RSI have bounced back from oversold levels. The stock has also broken out of a downward sloping trend line and is placed above the 20 day and 50-day SMA on the daily timeframe.
HDFC Securities recommends buying Rolex Rings shares in the range of ₹125-132, for target prices of ₹155 and ₹200, while keeping a stop loss at ₹109 level.
UPL | Buy Range: ₹770-790 | Target Prices: ₹875, ₹950 | Stop Loss: ₹690
UPL share price has broken out from the downward sloping trend line on the monthly charts. It has formed higher tops and higher bottoms on the weekly and monthly chart, and the stock is placed above all key moving averages, indicating uptrend on all time frames. Weekly RSI is sustaining above 50, indicating sustained uptrend for the underlying.
MACD is placed above signal and zero line on both weekly and monthly charts. UPL share price has broken out from the consolidation which held for the last 7 weeks. The stock price rise is accompanied by healthy volumes.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
