stock market recommendations: : Bajaj Broking Research recommends Bellerise IndustriesAnd Jaiswal Neco Industries As the top stock pick for March 20, 2026. The brokerage has also shared its views on Nifty and Bank Nifty:Index View: NiftyIndian benchmark indices remained highly volatile this week as investor sentiment remained cautious amid global macro and geopolitical concerns. There is a possibility of a prolonged increase in interest rates due to the continued dovish stance of the US Federal Reserve, which could slow down global growth and reduce the flow of liquidity in emerging markets like India. At the same time, rising tensions in the Middle East have significantly disrupted energy markets, causing crude oil prices to rise sharply. Higher oil prices worsen the inflation outlook and widen India’s current account deficit, weighing on equity market sentiment.Currently, global benchmark Brent crude is trading above $115 a barrel, which has risen sharply due to supply disruptions and geopolitical risks in major oil producing regions. The rise in oil prices has raised concerns about imported inflation and input cost pressures for oil marketing companies, sectors such as aviation and logistics. Additionally, sustained high crude oil prices may limit the Reserve Bank of India’s ability to ease monetary policy, further reducing market optimism. As a result, even during short-term fluctuations, the broader market stance remains cautious, with investors closely tracking both global central bank signals and crude oil price developments.Nifty 50 started the week on a positive note, recovering from strong losses during the first three sessions and hitting a high of 23,862 in Wednesday’s session. However, this momentum did not last, as intense selling pressure at Thursday’s highs wiped out all earlier gains.Technically, the index is showing a bearish trend in both the short and medium term, as it is forming a pattern of lower highs and lower lows. Immediate support is placed around current week’s lows of 23,000-22,950. A sustained decline below this zone could lead to further downside, with the index potentially falling towards the 22,700-22,400 range. This area is aligned with the previous gap zone and the 78.6% Fibonacci retracement of the previous major uptrend.On the positive side, the current week’s high of 23,862 is expected to act as immediate resistance. As long as the index remains below 24,300, the short-term outlook is likely to remain negative, and any upward move could lead to selling pressure.bank niftyBank Nifty continued its decline for the fourth consecutive week and fell below its September 2025 low. Follow-through weakness in the coming sessions would open further downside towards 52500 and 51800 levels, which is the 61.8% Fibonacci retracement of the rally from the January 2025 low and aligns with the low of the breakout candle formed in April 2025.On the higher side, 55,000-55,600 levels will remain on the downside bias, while significant resistance will remain below it.
Stock Recommendations:
Bellerise IndustriesBuy in the range of Rs 176.00-180.00
Belrise Industries share price is seen bouncing off the key support zone of Rs 170-175, providing opportunity for fresh entry with favorable risk reward. Buying demand is seen emerging from the support zone, which is the confluence of the 100-day EMA (which historically acts as strong support for stocks) and the rising trendline joining the July 2025 and January 2026 lows.The Daily Stochastic is seen bouncing from the oversold zone and has generated a buy signal by rising above its three-period moving average, confirming the positive bias in the stock.The stock is expected to move towards the target level of 204, which represents the 123.6% external retracement of the recent relief from 200 to 174.Jaiswal Neco IndustriesBuy in the range of Rs 69-71
The stock is seen forming a base at the 34-week EMA and previous major low of February 2026.We expect the stock to rise again while forming a base around the key support area and the corrective pullback is nearing maturity.We expect the stock to reach level 81 in the coming months, which will be the confluence of the 50% retracement of the previous major high and the entire decline of 94.00-68.50.(Disclaimer: The recommendations and views given by experts on the stock market, other asset classes or personal finance management are their own. These opinions do not represent the views of The Times of India)
