Buy Bank of Maharashtra, LG Balakrishnan suggests analyst at HDFC Sec

Vinay Rajani of HDFC Securities suggests Nifty trading strategy and suggests buying Bank of Maharashtra and LG Balakrishnan; here's why

Nifty share price

Nifty continued its pullback with a gain of 42 points to close at 25,725. After yesterday’s bullish Engulfing pattern, Nifty managed to register follow up gains in today’s trade, which successfully filled the gap range 25,630-25,752 formed on February 13, 2026. Next resistance for the Nifty is seen near 26,000, while levels of 25,570 and 25,372 could offer support in the near term.

Stocks to buy recommended by Vinay Rajani, HDFC Securities

Buy Bank of Maharashtra at ₹67.4, Stop-loss: ₹63, Target: ₹72

Bank of Maharashtra's stock price has broken out from the bullish inverted head and shoulder pattern on the daily chart. The primary trend of the Stock has been bullish with higher tops and higher bottoms. Stock is placed above long-term key moving averages, indicating an uptrend on all time frames. Daily RSI is sustaining above 50, indicating a sustained uptrend for the underlying. Daily MACD has given a bullish crossover on its signal line.

 

Buy LG Balakrishnan & Bros at ₹1,990 , Stop-loss: ₹1,922 , Target: ₹2,180

LG Balakrishnan & Bros' stock price has broken out from a downward-sloping trend line. The primary trend of the Stock has been bullish with higher tops and higher bottoms. Stock is placed above long-term key moving averages, indicating an uptrend on all time frames. Daily RSI is sustaining above 50, indicating a sustained uptrend for the underlying. Daily MACD has given a bullish crossover on its signal and zero line.  (Disclaimer: This article is by Vinay Rajani, CMT senior technical analyst, HDFC securities. Views expressed are his own.)