Top Stock Picks for June 24, 2026: Eicher Motors, Torrent Power, and Bajaj Auto

Navigating the volatility of the Indian equity markets requires a keen eye on technical breakouts and support levels, especially following recent global turbulence. As market participants react to international tech sell-offs, specific sectoral opportunities are emerging for disciplined investors looking for tactical entries.

Strategic Stock Recommendations for Today

Mehul Kothari, DVP - Technical Research at Anand Rathi Shares, has identified three key stocks showing strong technical setups. Despite a broader market correction, these picks offer structured entry points based on momentum and support confluence.

1. Eicher Motors Ltd: Momentum Breakout

Eicher Motors has demonstrated a classic breakout from a well-defined price structure, backed by significant trading volumes. This movement indicates renewed buying interest and a strengthening bullish trend.

  • Buy Range: Rs 7,650–Rs 7,550
  • Target Price: Rs 8,225
  • Stop Loss: Rs 7,300
  • Technical Driver: The stock has cleared the flat Ichimoku Cloud resistance, with the RSI holding above 50 and the MACD staying above the zero line.

2. Torrent Power: Rebound Potential at Support

Torrent Power is currently trading near a confluence of major support levels, including the 200-day EMA, 200-day SMA, and a rising trendline. This creates a high-probability zone for a price rebound.

  • Buy Range: Rs 1,480–Rs 1,440
  • Target Price: Rs 1,635
  • Stop Loss: Rs 1,370
  • Technical Driver: A bullish divergence on the daily Stochastic Oscillator suggests weakening downside pressure, while RSI remains robust above the 50 mark on both daily and weekly charts.

3. Bajaj Auto: Favourable Risk-Reward Setup

Bajaj Auto is approaching a critical support zone near its 50-day SMA, which aligns with Ichimoku Cloud support. This convergence offers an attractive entry for investors targeting the next leg of the uptrend.

  • Buy Range: Rs 10,200–Rs 10,100
  • Target Price: Rs 11,200
  • Stop Loss: Rs 9,600
  • Technical Driver: The MACD is signaling a bullish reversal, supported by sustained positive momentum in the RSI across multiple timeframes.

Global Headwinds and Market Context

The domestic market faced significant pressure in the previous session, with the BSE Sensex dropping nearly 900 points to close at 76,201. This decline erased approximately Rs 5.5 lakh crore of investor wealth, bringing the total market capitalization of BSE-listed companies to Rs 475.1 lakh crore.

The sell-off was largely triggered by global contagion. South Korea’s Kospi index experienced a massive 10% decline following regulatory warnings, which spilled over into US markets, specifically impacting AI-linked technology shares on the Nasdaq. While domestic sentiment has weakened, there is a silver lining: Foreign Institutional Investors (FIIs) remained net buyers despite the volatility.

Moving forward, market participants are closely monitoring the progress of the Indian monsoon and developments in India-US trade negotiations, which will likely dictate the direction of the next market cycle.

Key Takeaways

  • Tactical Picks: Eicher Motors, Torrent Power, and Bajaj Auto show strong technical setups based on breakouts and support confluence.
  • Global Impact: Negative sentiment from South Korean and US tech markets caused a sharp correction in the Sensex, wiping out significant market wealth.
  • Monitoring Factors: Investors should keep a close watch on monsoon progress and India-US trade negotiations as key drivers for upcoming market stability.