Top stocks to buy today: Stock recommendations for February 6, 2026 – check list
Stock market recommendations: According to Bajaj Broking Research, the top stock picks for January 30, 2026 are Lloyds Metals and Energy, and JSW Energy.
Here’s its view on Nifty and Bank Nifty:Index View: NiftyIndian equity markets witnessed intense volatility last week, driven by a confluence of major domestic and global developments.
The presentation of the Union Budget, developments surrounding the US–India trade agreement and escalating geopolitical tensions between the US and Iran collectively kept investor sentiment on edge.During the Budget session, the Nifty slipped sharply to an intraday low of 24,572 as markets reacted to a hike in the Securities Transaction Tax for the futures and options (F&O) segment of the equity derivatives market.
However, sentiment turned decisively positive on Tuesday, with the index staging a strong rebound.
The announcement of the US–India trade deal (The US will cut reciprocal tariffs on Indian goods to 18%) triggered aggressive buying, pushing the Nifty to an intraday high of 26,341.Despite this sharp upside move, the index struggled to sustain higher levels.
Profit booking at elevated zones and lingering global concerns led to some erosion of gains.
As a result, the Nifty pared part of its advance and eventually settled around the 25,600 mark by the close of Thursday’s session.Nifty has immediate support at 25450-25400 levels, being the confluence of the last week high and 20 days EMA.
Holding above the support area will keep the bias positive and will open upside towards 26,000 and 26350 levels in the coming weeks.We believe pullback from current levels should be viewed as a buy-on-dips opportunity, with strong support firmly placed around the 25,000-25,200 marks being the confluence of the 200-day EMA and 80% retracement of the current up-move.Volatility is likely to remain elevated amid uncertain global cues and the upcoming RBI monetary policy announcement.BANKNIFTYBank Nifty too witnessed sharp volatility during the week, swinging within a broad range of nearly 4,000 points.
Despite the heightened fluctuations, the index continued to outperform the broader market and surged to a fresh all-time high of 61,764 following the announcement of the US–India trade deal.
However, the rally lacked follow-through at higher levels, as profit-taking emerged.
Consequently, Bank Nifty surrendered a part of its gains and closed Thursday session around the 60,000 mark.Index has immediate support at 59500-59200 levels being the confluence of the 20- and 50-day EMA.
Index holding above the support area will keep the bias positive and will open upside towards 60,800 and 61,700 levels in the coming sessions.Volatility is likely to remain elevated amid uncertain global cues and the upcoming RBI monetary policy announcement.Key short-term support is placed in the 58,500–58,000 zone being the confluence of the 100 days EMA and the bullish gap area of Tuesday.
Stock Recommendations:
Lloyds Metals and EnergyBuy in the range of ₹ 1240-1270
The stock during the current week witnessed a strong rebound from the key support area of 1050-1100 being the confluence of the 100 week EMA and the previous major low of April 2025.The stock has recently generated a breakout above the falling channel containing recent decline and closed above the short-term averages thus supporting the positive bias.
We expect it to head towards 1410 levels being the key retracement of the entire decline and the previous major high of December 2025.Daily 14 periods RSI has generated a buy signal moving above its nine periods average thus validates positive bias.JSW EnergyBuy in the range of 463-475
Buying demand is seen emerging from the 200 weeks Ema and the previous breakout area signaling change of polarity as previous resistance is acting as support.
The stock has recently generated a breakout above a falling supply line and has moved above the 20 days EMA thus offering fresh entry opportunity.
We expect the stock to head towards the 510 levels being the 61.8% retracement of the previous decline.
(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)
