Indian equities extended their winning streak to a fourth straight session on Wednesday, with the BSE market capitalisation reclaiming the $5 trillion milestone. Amid the rally, Aakash K Hindocha, Vice President - Research at Nuvama Professional Clients Group/Nuvama Wealth Management, has identified three stocks with strong technical setups, according to a Business Today report.
Stock Recommendations for June 18, 2026
In a report dated June 15, 2026, Hindocha recommended buying Bharat Electronics Ltd (BEL), Canara Bank, and TVS Motor Company. The table below summarises the key levels:
| Stock | Last Closing Price (LCP) | Stop Loss | Target |
|---|---|---|---|
| Bharat Electronics Ltd | ₹419.85 | ₹400 | ₹470 |
| Canara Bank | ₹135.24 | ₹129.50 | ₹148 |
| TVS Motor Company | ₹3,448.70 | ₹3,300 | ₹3,760 |
Bharat Electronics: Hindocha noted that the stock was consolidating in a tight falling channel for the past two months. "Yesterday's move has strongly broken out of that channel, with above-average volumes," he said. The ₹400 level has repeatedly acted as a base, and prices have jumped to recapture the 200-day moving average. The analyst expects a further 10% follow-up move.
Canara Bank: Prices have been consolidating in a tight pennant for the past 1.5 months. With the pattern nearly complete, an explosive move is likely. The ADX at current levels of 10 has historically signaled reversals for the stock, adding confidence. Prices stood strong near the breakout, making it a lucrative spot for a long position. Strong support resides near 130.
TVS Motor Company: This stock has repeatedly seen demand from ₹3,300 levels since March 2026, forming an important inflection point. Over the past week, prices rebounded strongly with above-average volumes. A healthy pause has occurred for the past two trading days, but gains have not been surrendered. With the RSI improving above 50, the stock appears ready for a follow-through move towards ₹3,760.
Technical Outlook for Nifty and Bank Nifty
Hindocha also provided his view on the benchmark indices:
Nifty: A follow-through of Monday's 'falling wedge' breakout was witnessed on Tuesday, with 24,000 standing as strong support. The index is undergoing a 1,000-point upside momentum-driven breakout after its weekly closing above 23,400 on Friday. Immediate upside levels are 24,150 followed by 24,600. Dips below 23,850 can be considered to add to existing longs, with support at 23,500.
Bank Nifty: The index stood its ground after ending at a 7-week high and closing above its swing high. The Doji formed on Tuesday has been superseded by Wednesday's move, closing above 57,400. Furthermore, the index has settled firmly above its 200-day moving average for the past three consecutive sessions. This level (near 57,000) is now acting as support. On the upside, 58,800 can unfold in the medium term.
Market Round-Up: Four-Day Rally
According to the Business Today report, the market value of companies listed on the BSE has climbed back above the $5 trillion milestone, with investor wealth increasing by ₹22.78 lakh crore as benchmark indices extended their rally for a fourth consecutive session on Wednesday. Sentiment remained supported by lower crude oil prices after the US and Iran reached a peace agreement.
Over the past four trading sessions, the BSE Sensex has gained 3,323.07 points, or 4.50%, while the NSE Nifty is up 924.1 points, a rise of 3.98%.
Domestic benchmark indices ended higher on Wednesday. The 30-share Sensex rose 347.14 points, or 0.45%, to close at 77,155.62. During the session, it touched an intraday high of 77,218.99, up 410.51 points or 0.53%. The Nifty50 gained 96.55 points, or 0.40%, to settle at 24,085.70. Earlier in the day, the index climbed as much as 119.05 points, or 0.49%, to reach 24,108.20.
Among Sensex constituents, Trent emerged as the top performer with a gain of 7.06%. Other notable gainers included Bharat Electronics, Eternal, Tata Steel, Infosys, Titan, and Bharti Airtel. On the other hand, Bajaj Finserv, Axis Bank, Kotak Mahindra Bank, and Mahindra & Mahindra were among the laggards.
The recommendations and index views provide actionable insights for investors looking to capitalise on the ongoing momentum. The next milestone for markets will be the ability of the Nifty to hold above the 24,000 support and challenge the 24,600 resistance level in the coming sessions.
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