Stock market recommendations: According to Bajaj Broking Research, the top stock picks for October 17, 2025 are Reliance Industries, and Suzlon Energy. Here’s its view on Nifty and Bank Nifty:Index View: NIFTYBenchmark indices extended their rally for the third consecutive week driven by strong global cues and encouraging business updates from several companies. Positive start to the Q2FY26 earning sessions also supported by positive momentum. Dovish remarks from the Fed Chair on interest rates and indications of a possible pause in quantitative tightening, which buoyed global risk sentiment. Lower CPI and WPI data in India also boosted rate cut expectations in India.Nifty traded in a range in the first two trading sessions of the week. However, it gained momentum as the week progressed and rallied to three months high on Thursday. Index in the process generated a breakout above a falling supply line joining the major highs of September 2024 and June 2025 signaling strength and continuation of the up move.On the smaller time frame Nifty has generated a breakout above the last three months symmetrical triangular consolidation pattern highlighting positive bias and any dips should be used as a buying opportunity. We expect the index to head towards 25,900 and then towards 26,200 levels in the coming weeks being the 123.6% and 138.2% external retracement of the last three months’ corrective decline (25669-24338).On the downside immediate support is placed at 25350-25400 levels being the recent breakout area while key support is placed at 25100-25,000 levels being the current week low and 20- & 50-days EMA. Key Monitorables Going Forward:
- Progress in tariff negotiations, which could impact corporate profitability.
- The progress of the Q2FY26 earnings season, likely to set the tone for market direction.
- The trend in Brent crude oil prices, which continue to decline—an encouraging sign for the domestic market, given India’s status as a net importer of crude.
NIFTY BANKBank Nifty continues to maintain a bullish structure on the daily chart, forming a series of higher highs and higher lows. The index has also witnessed a breakout from an inverse Head and Shoulders pattern — a strong bullish reversal setup — reinforcing the positive trend.Bank Nifty continues to outperform the Nifty in the current leg of up move, with key private banking heavy weights Q2FY26 results lined up on coming Saturday. It will decide the next directional trigger for the index.With prices holding above key moving averages, the near-term bias remains upward. The index is likely to test our target of 58,000, being the 161.8% external retracement of the previous up move (53561-55835) as projected from the recent trough of 54226. Thursday’s gap area of 56,700 will act as immediate support for the index.The RSI (14) at 66 indicates healthy momentum, suggesting strength in the uptrend. Any dips should be viewed as buying opportunities within this constructive setup.
Stock Recommendations:
Reliance IndustriesBuy in the range of Rs 1380.00-1400
Reliance Industries’ stock has undergone a corrective phase over the past three months and is currently consolidating near a crucial support zone. This technical setup offers a favorable risk-reward profile, positioning the stock for a potential bullish reversal and the next leg of the uptrend.A key technical takeaway from the weekly chart of Reliance Industries is the time-price relationship, where the stock has taken 13 weeks to retrace merely 50% of the preceding 13-week rally from ₹1115 to ₹1551. This shallow and time-consuming retracement reflects inherent strength and a bullish undertone. The recent corrective phase is interpreted as a higher base formation, setting the stage for the next impulsive leg on the upside.The ongoing corrective phase appears to be nearing exhaustion, with price action indicating the potential for a fresh bullish reversal. We anticipate the stock to resume its primary uptrend and retest the previous swing highs around ₹1540 in the upcoming quarters, which correspond to the key resistance zones marked by the September 2024 and July 2025 peaks.Suzlon EnergyBuy in the range of Rs 53-55
Suzlon stands to be a prime beneficiary of India’s renewable energy expansion, with wind capacity projected to rise from 49.8 GW in 2024 to 127.9 GW by 2033. The company’s leadership in domestic manufacturing and a record firm orderbook of 5.7 GW as of Q1 FY26 provide multi-year revenue visibility and execution certainty. Recent marquee orders from Tata Power Renewable and Sunsure Energy reaffirm Suzlon’s strong demand pipeline, while the steady contribution from its high-margin O&M business adds stability and predictable cash flows to its earnings profile.Further strengthening its strategic position, Suzlon’s acquisition of a 76% stake in Renom Energy Services unlocks access to the large non-Suzlon O&M market, enhancing scale and profitability through cross-selling and synergies. The company’s calibrated capex of ₹400–450 crore, with a strong R&D focus, is set to drive innovation and operating leverage through efficient, export-ready turbine designs. Overall, Suzlon’s integrated model, improving margin mix, and balance of growth and annuity revenues underpin a constructive long-term investment outlook.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
