Stock market recommendations: IndusInd Bank, and UPL are the top stock recommendations by Bajaj Broking Research for February 20, 2026 with a 3-month horizon in mind. The brokerage also shares its view on Nifty and Bank Nifty:Nifty OutlookThe index formed a sizable bearish candle on the daily chart and slipped below the lower boundary of the 25,500–26,000 consolidation range, indicating a decisive loss of short-term momentum. The sharp decline has brought Nifty close to its previous swing low, thereby shifting the near-term bias to cautious and signalling the need for stability at lower levels.Technically, the index has broken below both the 50Day EMA and the 21day EMA in a single move, reflecting strong selling pressure. The 200-day EMA, placed near 25,200, is now the next crucial short term support zone and appears vulnerable if follow-up selling persists in the coming sessions.On the downside, immediate supports are seen at 25,350 and 25,000, which may act as key cushions in case of further weakness. On the upside, resistance is placed at 25,650, followed by 25,720, where any pullback is likely to face selling pressure.Bank Nifty OutlookThe index surrendered most of the gains from the previous two sessions and formed a large bearish engulfing candle on the daily chart, indicating strong profit booking near all-time high levels. It witnessed sharp selling from the highs and eventually closed near the day’s low, reflecting sustained weakness throughout the session.The 21-day EMA, placed around 60,300, emerges as the key level to watch, as the index has found support near this average on multiple prior occasions. Immediate support is seen at 60,300, followed by 60,000.On the upside, near-term resistance is positioned at 61,500 and 61,750. In the near term, the index is likely to trade within a broad range of 60,000–61,500, and a decisive breakout on either side could trigger fresh directional momentum.
Stock Recommendations:
IndusInd BankBuy in the range of ₹ 920-930
On the weekly chart, IndusInd Bank shows a steady recovery after a prolonged downtrend, with price holding above the 21 EMA, indicating improving momentum. The stock appears to be forming a rounding base and is now consolidating near the 900–950 zone after a gradual up move.The rising 21 EMA is acting as immediate support, while RSI near the 50–60 range reflects neutral-to-positive strength.Immediate resistance is placed at 950–980 followed by 1060 which is 200 weeks EMA. On the downside, supports are seen at 880–860.UPLBuy in the range of 750-765
UPL has displayed strong bullish momentum on the daily chart, forming a positive candle while sustaining a clear pattern of higher highs and higher lows, indicating a strengthening upward trend. The stock has also delivered a swing breakout supported by a noticeable rise in trading volumes, reflecting improving buying participation and reinforcing the positive price structure. Also It has started to move above its 21 weeks EMA indicating short term positive bias. Technically, the breakout offers a favorable risk–reward opportunity on the long side. As long as the stock sustains above key support levels, momentum is likely to remain intact. Going ahead, the stock is expected to move towards the ₹830 mark, which coincides with its previous all-time high and acts as the next major resistance zone. A strict stop loss should be maintained near ₹728 to manage downside risk.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
