𝗦𝘁𝗼𝗰𝗸 𝗥𝗲𝗰𝗼𝗺𝗺𝗲𝗻𝗱𝗮𝘁𝗶𝗼𝗻𝘀 𝗙𝗼𝗿 𝗝𝘂𝗻𝗲 𝟭𝟮, 𝟮𝟬𝟮𝟲

Bajaj Broking Research issued buy calls for HDFC Bank and NBCC on June 12, 2026. The firm also issued index views for Nifty and Bank Nifty.

HDFC Bank

  • Buy range: ₹730 to ₹750
  • Target: ₹820
  • Return: 11%
  • Stoploss: ₹690
  • Time period: 6 months

The stock consolidated over the last two months and formed a base after a previous decline. The brokerage says the corrective decline is approaching maturity. The stock offers a fresh entry opportunity with a favorable risk-reward setup. Bajaj Broking expects the stock to reach ₹820 in the coming month. The weekly stochastic has entered oversold territory. A pullback is likely in the coming weeks.

NBCC

  • Buy range: ₹100 to ₹102
  • Target: ₹115
  • Return: 14%
  • Stoploss: ₹95
  • Time period: 1 month

NBCC recovered strongly from recent lows. The monthly chart shows a higher-high and higher-low formation. The stock sustained above the 52-week EMA after a prolonged consolidation phase. The weekly 14-period RSI stays above its 9-period signal line. This indicates strengthening momentum. Bajaj Broking expects the stock to reach ₹115.

Nifty Benchmark indices trade in a range with a corrective bias. Persistent FII outflows, high oil prices, and geopolitical uncertainties weigh on investor sentiment.

Nifty consolidates in the broad range of 23,000 to 23,550. The index rebounded multiple times in the last two weeks from the support area of 23,000 to 23,200. Resistance sits at 23,500 to 23,550. A move above this level opens further upside toward 23,750 to 23,800. A close below 23,000 signals a decline toward 22,600. Over the past eight weeks, the index corrected 61.8% of the sharp 11% rally seen in the prior three weeks.

Bank Nifty Bank Nifty outperformed Nifty in the last four weeks. The index sits at the upper band of the four-week range of 55,600 to 52,700.

The index broke out above the falling trendline joining the last two months' highs. It sustains above its 20-day EMA. A decisive move above this level confirms renewed buying momentum toward 56,500 and 57,000. Failure leads to consolidation in the range of 53,800 to 55,600. Immediate support sits at 54,000 to 53,800. Key support rests at 52,700 to 52,500.