Best Stock Picks for Today: July 18 Recommendations
Equity markets are experiencing a cautious phase as investors await clearer signals regarding macroeconomic conditions and corporate earnings. According to Bajaj Broking Research, UPL and Varun Beverages have emerged as top stock picks for today. The Nifty index has shown signs of consolidation, reflecting a mix of investor sentiment amid ongoing uncertainties surrounding the India-US trade dialogue and the upcoming Q1 FY26 earnings season.
Nifty Index Overview
The Nifty index has been trading sideways within a narrow range, indicating a wait-and-watch approach among investors. This behavior comes as participants seek clarity on macroeconomic developments and the visibility of corporate earnings. Notably, the index has retraced only 50% of its previous uptrend over the last 12 sessions, suggesting a healthy consolidation phase. The formation of a higher base around the psychological support level of 25,000 reinforces a bullish outlook.
In recent sessions, the Nifty has consistently reached intraday highs around the 25,255 mark, coinciding with the 20-day Exponential Moving Average (EMA). A decisive breakout above this level could signal the next upward movement, potentially targeting the 25,600 zone in the coming weeks. However, if the index fails to surpass the 25,255 resistance, it may continue to consolidate within the 25,000 to 25,250 range. The current market conditions indicate that volatility may persist, influenced by the ongoing earnings season and uncertainties in India-US tariff negotiations.
Bank Nifty Performance
The Bank Nifty index has also been trading within a narrow consolidation band, reflecting subdued investor sentiment amid uncertainties related to the India-US trade discussions and the upcoming Q1 FY26 earnings season for banking stocks. Despite this, the index remains above its 20-day EMA, which it has respected since April, indicating that the underlying bullish trend is still intact.
The recent market breadth improvements suggest a robust higher high-higher low price structure, supporting the notion of a well-entrenched uptrend. The Bank Nifty has been consolidating within the 56,500 to 57,600 range over the past ten sessions. Analysts expect this trend to continue, with any movement beyond this range signaling the next directional shift. Key short-term support is identified at the 56,000 to 55,500 region, which aligns with the 50-day EMA and key retracement levels. The broader trend remains positive, and current consolidation phases are viewed as potential buying opportunities.
Stock Recommendations
Bajaj Broking Research has identified UPL and Varun Beverages as top stock picks for investors. For UPL, the recommendation is to buy within the range of Rs 680.00 to Rs 696.00, with a target price of Rs 763.00 and a stop-loss set at Rs 645. This stock is on the verge of breaking above a bullish cup and handle formation, indicating a continuation of the upward trend. The stock has shown strength by sustaining above short-term moving averages, and a recent buy signal from the daily RSI supports a positive outlook.
For Varun Beverages, investors are advised to buy in the range of Rs 480 to Rs 492, with a target price of Rs 536 and a stop-loss at Rs 457. The stock has recently broken out of a falling channel that contained its decline since April 2025. It has also moved above short-term moving averages, supported by strong trading volume, further validating the positive bias. The daily RSI is maintaining a position above its average, suggesting continued upward momentum.
(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 observervoice .)
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