New Year 2026: Technical Stock Picks to Watch
- 1st January 2026
- 12:00 AM
- 3 min read
Indian equity markets enter 2026 with a constructive technical setup after a steady recovery in 2025. Both the Nifty 50 and Bank Nifty ended the year with double-digit gains, supported by strength in cyclicals and PSU-linked sectors.
The Nifty 50 rose 10.50% year-on-year, recovering from an April low of 21,743. The index has near-term support at 25,500 and major support at 25,000 (200-DMA). On the upside, a decisive move above 26,325 could open targets of 27,300 and 28,200.
The Bank Nifty outperformed with a 17.15% annual gain, rising from a March low of 47,700 to an all-time high of 60,114. After consolidating over the past two months, the index holds near-term support at 58,600 (50 EMA). A decisive breach above 59,800 could trigger a fresh up-move towards 61,400 and 63,500, while 57,000 (100-MA) remains the key downside level.
In terms of sector performance, PSU Banks, NBFCs, Auto and Metals led the gains in 2025, while IT, Realty, FMCG and Consumer Durables lagged.
PL Capital Technical Stock Picks for 2026
Below are PL Capital’s technical buy ideas for 2026, based on chart patterns, support zones and momentum indicators.
- CMP: ₹7,040
- Target: ₹9,000
- Stop Loss: ₹6,700
The stock has found strong support near ₹6,800 and is consolidating with improving volumes. RSI has recovered from oversold levels, indicating a buy signal and scope for further upside.
- CMP: ₹9,345
- Target: ₹12,700
- Stop Loss: ₹8,400
A clear breakout above the ₹9,250 resistance with strong volume confirms trend strength. RSI is gaining strength, suggesting momentum can continue in the coming sessions.
- CMP: ₹6,385
- Target: ₹7,100
- Stop Loss: ₹5,900
The stock is consolidating above its 200-day moving average near ₹6,300. RSI remains supportive, and a breakout above ₹6,570 could trigger further upside.
- CMP: ₹166.5
- Target: ₹200
- Stop Loss: ₹152
The stock has rebounded from the 50 EMA zone with a positive daily candle. RSI shows a fresh buy signal, indicating potential for further upward movement.
- CMP: ₹627
- Target: ₹800
- Stop Loss: ₹530
After taking support near ₹550, the stock is forming a bullish flag pattern. RSI has corrected from overbought zone and is well positioned, indicating a positive trend reversal.
- CMP: ₹3,709
- Target: ₹4,600
- Stop Loss: ₹3,340
The stock has bounced from the lower end of its ascending channel and moved above the 50 EMA. RSI signals a positive trend reversal with further upside potential.
- CMP: ₹2,415
- Target: ₹3,100
- Stop Loss: ₹2,170
After a strong rally, the stock has made a higher bottom formation near the 50 EMA. RSI remains strong, suggesting the uptrend is intact.
- CMP: ₹424
- Target: ₹515
- Stop Loss: ₹380
The stock has crossed above key moving averages with a bullish candle. RSI has turned strong, indicating further upside from current levels
- CMP: ₹356.8
- Target: ₹415
- Stop Loss: ₹330
After a prolonged correction, the stock is showing signs of bottoming out and has moved above the 50 EMA. RSI recovery supports a positive bias.
- CMP: ₹733
- Target: ₹940
- Stop Loss: ₹665
The stock has seen a decent correction from 910 zone and is now consolidating in ₹710–725 range, with positive divergence visible. RSI is gradually recovering from oversold levels, indicating buying interest.
- CMP: ₹3,206
- Target: ₹3,720
- Stop Loss: ₹2,900
The stock has taken support near its 200-day moving average and is showing a pullback. RSI has turned positive, signalling potential for further gains.
Note: All prices are as of 31 December 2025.
Follow PL Capital for all stock updates.
