Goldman Sachs recently upgraded Indian stock market outlook to 'Overweight' amid hopes of improved profitability and growth-support policies.
"We think India's valuations are defensible on superior growth, improved profitability, lower rates, changing market structure, improved governance and higher global risk appetite", Goldman Sachs said in its report.
The global investment banker has pegged Nifty 2026 target at 29,000, implying an upside potential of around 14 per cent from current levels.
Among individual stocks Goldman has included Reliance Industries (RIL), Havells India, Titan Company, PTC Industries and NASDAQ-listed MakeMyTrip in its 'conviction list' for the Asia Pacific (APAC) region.
Fundamentally, Goldman Sachs expects these 4 stocks to rally between 14 per cent 0 54 per cent over the next 12 months.
READ MORE Meanwhile, from a technical perspective, here's how these 4 stocks (barring MakeMyTrip), which are listed on the BSE, and NSE, look on the charts.
Reliance Industries (RIL)
Current Price: ₹1,493
Likely Target: ₹1,645
Upside Potential: 10.2%
Support: ₹1,455; ₹1,435; ₹1,420
Resistance: ₹1,520; ₹1,550; ₹1,600
Reliance Industries (RIL) stock has been trading with a favourable bias post the gap-up breakout on October 20, 2025. The daily chart suggests that the overall outlook on RIL is likely to remain bullish as long as the stock holds above ₹1,435 - ₹1,420 support zone; with interim support visible around its 20-Day Moving Average at ₹1,455.
On the upside, the stock can potentially surge to ₹1,645. On its way up, the stock is likely to face intermediate resistance around ₹1,520, ₹1,550 and ₹1,600 levels.
Titan Company
Current Price: ₹3,796
Likely Target: ₹4,425
Upside Potential: 16.6%
Support: ₹3,720; ₹3,676; ₹3,600
Resistance: ₹3,900; ₹4,060; ₹4,200; ₹4,320
Titan Company share is trading at life-time highs, and looks favourably placed on the long-term chart. The key momentum oscillators witnessed a positive crossover, thus indicating a likely positive bias for the coming months provided the stock breaks and sustains consistently above ₹3,900 levels.
On the upside, the stock can potentially surge to ₹4,425. Interim resistance for the stock can be anticipated around ₹4,060, ₹4,200 and ₹4,320 levels. The daily chart shows that the short-term trend is likely to be upbeat above ₹3,600; with interim support likely around ₹3,720 and ₹3,676.
PTC Industries
Current Price: ₹17,670
Likely Target: ₹20,950
Upside Potential: 18.6%
Support: ₹17,000; ₹16,230
Resistance: ₹18,650; ₹19,750
PTC Industries stock has witnessed a sharp 33 per cent rally in the last two months, and looks fairly overbought in the short-term. Having said that, the overall bias at the counter is likely to remain positive as long as the stock quotes above ₹16,230, with near support at ₹17,000-mark.
On the upside, the higher-end of the Bollinger Bands on the monthly scale at ₹18,650 could act as near-term resistance. Above which, the stock can attempt a rally towards ₹20,950, with interim resistance around ₹19,750 levels.
Havells India
Current Price: ₹1,452
Likely Target: ₹1,300
Downside Risk: 10.5%
Support: ₹1,409
Resistance: ₹1,481; ₹1,517
Havells India stock is trading with a negative bias on the daily chart. The short-term trend is likely to remain tepid below ₹1,517, with interim resistance likely around the 20-DMA at ₹1,481.
On the downside, the stock is seen trading within reach of its 200-Week Moving Average, which stands at ₹1,409. This is a major support for the stock, which it has held since the breakout in the week ended June 19, 2020. A dip below the same could see the stock accentuate the fall towards ₹1,300.
 "Reliance, Titan, 2 others among Goldman's top stock picks; what charts say?")
