Stock market recommendations: According to Bajaj Broking Research, Tata Steel, and Lloyds Engineering Works are the top stock picks for today. Here’s its view on Nifty, Bank Nifty and the top stock picks for June 27, 2025:Index View: NiftyIn recent weeks, the Nifty index has showcased remarkable resilience, maintaining its upward trajectory and investor confidence despite a challenging macroeconomic and geopolitical environment. Escalating tensions in key global regions, which typically heighten market volatility, have not deterred the index’s momentum. Additionally, the recent spike in crude oil prices—a factor that historically weighs heavily on the Indian economy due to its import dependence—has had a surprisingly muted impact on market sentiment. This strength in the face of adversity reflects underlying market optimism, robust domestic fundamentals, and continued participation from both institutional and retail investors.The Nifty has delivered a technically significant breakout, moving above the last 6 weeks’ range 25,200-24,500, closing decisively above the 25,200 marks. In Thursday’s session it closed above 25,500 levels, its highest closing level in over eight months. This move not only reinforces the prevailing bullish momentum but also validates the sustained higher high–higher low-price structure, a classic hallmark of a well-established uptrend. Importantly, the positive market breadth—reflected in broad-based participation across sectors—adds conviction to the ongoing rally.Given this strength, we are revising our near-term upside target for the index to the 25,700–25,900 zone. This revised projection aligns with the measured move objective derived from the recent consolidation range between 24,500 and 25,200. The breakout from this congestion zone suggests a continuation pattern, and with technical indicators supporting the trend, we anticipate these levels to be achieved over the coming weeks.We are upwardly revising the immediate support base for the Nifty to the 24,800–25,000 zone. This zone now emerges as a critical demand area, as it coincides with the current week’s swing low and the 20-day exponential moving average (EMA), thereby forming a strong confluence support region.Sustained price action above this zone will reinforce the bullish bias and provide a launchpad for further upside. This area is expected to act as a key pivot in the near term, where any potential pullbacks could find buying interest. A hold above this support band will be instrumental in maintaining the current trend structure and confirming the strength of the ongoing breakout.NIFTY BANKBank Nifty staged a strong uptrend last week, culminating in a fresh all-time high during Thursday’s session, driven in part by improved global risk sentiment following reports of a ceasefire between Israel and Iran. This breakout underscores the index’s robust bullish undertone, further validated by its sustained position above the 20-day Exponential Moving Average (EMA) since April—a key indicator of persistent upward momentum.From a structural standpoint, the index continues to exhibit a classic higher-high, higher-low formation, reflecting a well-established uptrend. The breadth of the rally remains healthy, with participation expanding across key banking constituents, thereby reinforcing the directional strength. Notably, Bank Nifty is displaying characteristics of trend elongation, where extended rallies are followed by shallow and orderly retracements—a technical sign of a strong and maturing trend.Given the recent breakout from the consolidation zone of 56,000–53,500, the implied pattern target projects an upside potential towards the 58,500 mark over the coming weeks. This projection is further supported by bullish price structure and momentum indicators.On the downside, the key support base has been recalibrated to the 55,000–55,500 region, which marks a confluence of technical factors—namely, the 50-day EMA and the recent swing lows of the past three weeks. This zone is likely to act as a strong accumulation area, and any corrective pullbacks into this region should be viewed as incremental buying opportunities within the broader uptrend. Stock Recommendations:Tata SteelBuy in the range of Rs 157-161
The stock has generated a breakout above the falling channel containing last 1 month’s corrective decline signaling resumption of up move and offers fresh entry opportunity.The stock is currently seen rebounding after a base formation around the 50 days EMA signaling overall positive bias.The daily 14 periods RSI has generated a buy signal moving above its nine periods average thus validating positive bias. We expect the stock to head higher towards 176 levels in the coming months being the 80% retracement of the entire previous decline (184-123).Lloyds Engineering Works Buy in the range of Rs 62.20-64.50
The stock has recently generated a breakout above a bullish cup and handle formation and is seen sustaining above the short- and medium-term moving averages thus supporting the positive bias.The breakout is supported by strong volume and the base of recent consolidation is placed at the 200 days EMA which supports the positive bias.The daily 14 periods RSI has generated a buy signal above its nine periods average signaling positive bias. We expect the stock to head towards 319 levels in the coming months being the 61.8% retracement of the entire decline (395-201).Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.