Stock market recommendations: NCC, and HFCL are the top stocks that Bajaj Broking Research recommends buying on March 13, 2026. Here is a detailed outlook on NCC, and HFCL along with a view on Nifty and Bank Nifty.Index View: NIFTYIndian benchmark indices extended their losses during the current week, largely tracking weak global market cues amid escalating geopolitical tensions surrounding the US–Israel conflict with Iran. The rising uncertainty over the conflict’s potential impact on global inflation and economic growth has kept investors cautious, leading to continued selling pressure in equities. The tensions have also pushed Brent crude oil prices sharply higher, with prices currently hovering around $100 per barrel, raising concerns for oil-importing economies like India. Adding to the negative sentiment, the Indian rupee slipped to a fresh low against the US dollar, further weighing on investor confidence due to fears of higher import costs and rising inflationary pressures.Elevated crude oil prices pose a major macroeconomic challenge for India due to its strong reliance on energy imports. A prolonged rise in oil prices can increase inflationary pressures, expand the current account deficit, and put further pressure on the domestic currency. Moreover, higher input costs can compress corporate profit margins, especially in sectors such as aviation, logistics, paints, and oil marketing companies, which may negatively impact overall equity market sentiment.The Nifty index breached its August 2025 low of 24,337 earlier in the week and slipped further to mark a fresh 10-month low of 23,556 during Thursday’s session, indicating the continuation of the ongoing corrective phase. Market volatility is expected to remain elevated in the near term amid uncertain global cues, rising crude oil prices, and escalating geopolitical tensions. Nifty is currently testing the 61.8% retracement of the previous major rally 21744-26373, index holding above the support area of 23,500-23,400 will lead to consolidation in the range of 23,400-24,300 in the coming session.On the upside, immediate resistance is placed around 24,000 and 24,300, which also coincides with the recent breakdown zone, and only a sustained move above 24,300 could indicate a pause in the prevailing downtrend. However, a decisive break below the 23,400–23,500 support area may lead to additional selling pressure, potentially dragging the index towards the 23,000 level in the coming sessions.Bank NiftyBank Nifty extended its decline for the third consecutive week, slipping lower and testing the 55,000 level during Thursday’s session. The continued weakness reflects sustained selling pressure in the banking space amid cautious investor sentiment and volatile broader market conditions.Technically, the short-term bias remains negative as long as the index trades below the 56,500 mark. Failure to reclaim this level could lead to further downside in the coming sessions, with the index potentially drifting towards the 100-week EMA, which is placed around the 54,000 level.Market volatility is also expected to remain elevated due to uncertain global cues, rising crude oil prices, and escalating geopolitical tensions, which may continue to weigh on the banking sector and the broader equity market.
Stock Recommendations:
NCCBuy in the range of ₹ 147.00-150.00
Buying demand is seen emerging from the lower band of the last 3 months range signaling accumulation at lower levels.The weekly 14 periods RSI has moved above its nine periods average and is seen sustaining above its nine periods average thus validates positive bias.We expect stock to head higher towards 165 levels in the coming month, being the previous high of January 2026.HFCLBuy in the range of 72.50-74.50
The stock has generated a breakout above the falling trendline joining highs of June and November 2025 signaling resumption of up move and offers fresh entry opportunity.The recent price move is supported by rising volume signaling larger participation at lower levels.We expect stock to head towards 82 levels in the coming months being the confluence of the key retracement of the previous up move and measuring implication of the range breakout. (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)
