HAL, Infosys, ITC, PFC, LIC, L&T, BEML among top-10 techno-fund picks for up to 32% upside

Amid the ongoing West Asia war, domestic brokerage firm SMIFS observes that India’s earnings cycle remains robust, with listed companies posting 16 per cent year-on-year earnings growth in Q3FY26 for a fourth successive quarter of double-digit expansion, despite index-level volatility.

Several sectors, such as finance, auto, insurance, defence, information technology, infrastructure, capital goods, and real estate, are seen at the intersection of structural growth and valuation mispricing. SMIFS points to defence as the most geopolitically insulated domestic sector with revenues carrying multi-year visibility due to signed contracts and government-backed initiatives.

SMIFS underscores that, across all highlighted sectors, the market is pricing temporary mispricing as permanent impairment. The fundamentals argue emphatically otherwise. The brokerage firms has penciled as many as 10 techno-funda stock picks including names like ITC, Tata Motors Passenger Vehicles Ltd, Infosys, Power Finance Corporation, Hindustan Aeronautics Ltd and more for 20-32 per cent upside in next 4-6 months. Here's what is said on these stocks:  

Tata Motors Passenger Vehicles | Buy | Target Price: Rs 449 | Stop Loss: Rs 310.85

TMPV is consolidating near the Rs 330-325 support zone after a sustained downtrend from the Rs 538 highs, with the stock now approaching a historically significant demand area that has repeatedly attracted buying interest across multiple timeframes. The price action over recent weeks shows a compression of selling pressure with the stock refusing to give up the Rs 320 level decisively, indicating supply absorption and tentative base formation at current prices. RSI is hovering near the 39 level and beginning to stabilise after a prolonged decline, reflecting a momentum reset that sets the stage for a potential mean-reversion bounce. MACD, while still in negative territory, is showing a visible histogram contraction with the signal lines beginning to converge, suggesting that bearish momentum is losing intensity. Volume during the recent consolidation is subdued relative to prior down-moves, pointing toward a healthy digestion of overhead supply rather than continued distribution. Sustaining above Rs 330 on a weekly closing basis can trigger a pullback toward Rs 400–420 in the near term and Rs 449 on broader recovery. However, a decisive weekly close below Rs 310.85 would weaken the recovery structure and invalidate the bullish bias entirely.  

Godrej Properties | Buy | Target Price: Rs 2,176 | Stop Loss: Rs 1,480

Godrej Properties is stabilising near the Rs 1,590–1,645 demand zone after a sharp corrective decline from the Rs 2,493 supply wall, with the stock now approaching a structurally significant horizontal level that has historically attracted strong buying interest. The current weekly candle is showing signs of intra-bar recovery with price attempting to hold above the Rs 1,645 support, indicating that sellers are losing momentum at this critical juncture. RSI has cooled to the 37–40 range after a prolonged downtrend, reflecting a meaningful momentum reset that historically precedes sharp mean-reversion bounces in quality real estate names. MACD remains in negative territory but the histogram contraction is visible, suggesting that the pace of bearish momentum is slowing considerably and a crossover attempt is building. Volume during the recent consolidation near support is subdued relative to the prior down-move, pointing toward healthy digestion of overhead supply rather than continued distribution. Sustaining above Rs 1,700 on a weekly closing basis can trigger a recovery toward Rs 1,900–2,176 in the near term. However, a decisive weekly close below Rs 1,480 would weaken the recovery structure and invalidate the bullish bias entirely.  

Power Finance Corporation | Buy | Target Price: Rs 510 | Stop Loss: Rs 376

PFC is consolidating near the Rs 390-400 demand zone after a sharp corrective decline from the Rs 526 highs, with the stock now compressing tightly around a structurally significant horizontal level that has repeatedly attracted buying interest across multiple timeframes over the past two years. The recent price action shows the stock attempting to stabilise above the Rs 396 support with the current week holding above this level despite broader market weakness, indicating resilient demand at current prices. RSI is hovering near the 55-60 range and beginning to recover after a prolonged downtrend, reflecting a momentum reset from extended bearish conditions that sets the stage for a potential mean-reversion bounce. MACD has recently attempted a positive crossover with the histogram turning marginally green — a meaningful early signal that upside momentum is beginning to build after months of bearish pressure. Volume during the recent recovery attempt from the Rs 340 lows is notably higher than prior down-weeks, pointing toward genuine demand re-entry and institutional accumulation at this level. Sustaining above Rs 396 on a weekly closing basis can trigger a recovery toward Rs 430–450 in the near term and Rs 510 on broader continuation. However, a decisive weekly close below Rs 376 would weaken the recovery structure and invalidate the bullish bias entirely.  

Life Insurance Corporation of India | Buy | Target Price: Rs 1,001 | Stop Loss: Rs 759.80

LIC is consolidating near the critical Rs 793–Rs 805 demand zone after a prolonged corrective decline from the Rs 1,001 supply wall, with the stock now approaching a multi-timeframe horizontal support level that has repeatedly arrested selling across the prior two years. The current price action shows a tight weekly compression near this support with the stock refusing to give up the Rs 793 level decisively, indicating that supply is being absorbed steadily by patient buyers at current prices. RSI is hovering near the 40–43 range and beginning to flatten after an extended decline, reflecting a momentum reset consistent with base formation ahead of a potential directional recovery. MACD remains marginally negative but the signal lines are tightening meaningfully with the histogram showing visible contraction, signaling that bearish momentum is dissipating and a positive crossover is increasingly probable. Volume activity near the support zone reflects quiet accumulation rather than panic selling, consistent with institutional positioning at a structurally attractive level. Sustaining above Rs 820 on a weekly closing basis can trigger a pullback toward Rs 850–871 in the near term and Rs 1,001 on a fuller recovery. However, a decisive weekly close below Rs 759 would weaken the recovery structure and invalidate the bullish bias entirely.  

Larsen & Toubro| Buy | Target Price: Rs 4,963.30 | Stop Loss: Rs 3,501.80

Larsen & Toubro Ltd (L&T) is finding support near the Rs 3,721–Rs 3,850 demand zone after a sharp corrective decline from the Rs 4,237 recent highs, with the stock now testing a structurally significant horizontal level that had previously acted as a strong base during the broader 2024–2025 recovery phase. Price has returned to retest this breakout zone, a classic technical behaviour where prior resistance transforms into support and often attracts fresh institutional buying. RSI has retreated to the 46–50 zone from overbought territory, reflecting a healthy momentum reset without entering oversold conditions — a bullish sign suggesting the primary uptrend remains structurally intact. MACD, while showing a recent negative crossover, has MACD lines still positioned at elevated levels relative to prior troughs, and the histogram contraction signals that corrective momentum is nearing exhaustion. Volume on the current down-week is meaningfully lower than prior up-weeks, confirming this is a low-conviction pullback rather than a trend reversal. Sustaining above Rs 3,850 on a weekly closing basis can trigger a recovery toward Rs 4,136–4,237 in the near term and Rs 4,963 on broader continuation. However, a decisive weekly close below Rs 3,501 would weaken the recovery structure and invalidate the bullish bias entirely.  

Cyient | Buy | Target Price: Rs 1,160 | Stop Loss: Rs 811.70

Cyient Ltd has seen a brutal markdown from the Rs 1,133 supply zone, losing over 25 per cent in a sharp, near-vertical decline that has brought it to the Rs 842–850 demand zone — a level that previously acted as a multi-month floor. This kind of capitulatory selloff often marks the exhaustion of aggressive sellers, making the current zone a high-probability contrarian entry. Price is now compressing just above the Rs 842 support with weekly wicks suggesting intra bar rejection of lower levels. RSI has dipped deep into oversold territory 32, a condition historically associated with mean reversion bounces in quality mid-cap IT names. MACD remains in negative territory but the histogram contraction signals that bearish momentum is losing steam. Volume has been elevated during the decline — a hallmark of a climax sell, not a sustained distribution. A contra long can be considered on a weekly close above Rs 900, targeting a pullback toward Rs 1,000 in the near term and Rs 1,160 on a fuller recovery. A decisive weekly close below Rs 811.70 would invalidate the thesis.  

Infosys | Buy | Target Price: Rs 1,550 | Stop Loss: Rs 1,192.20

Infosys Ltd has undergone one of its sharpest weekly corrections in recent memory, collapsing from Rs 1,643 resistance to the Rs 1,271–1,308 zone in a compressed time frame — a move that has clearly overshot fundamental deterioration and likely reflects forced institutional selling or macro-driven panic rather than stock-specific deterioration. The current price action is flirting with the Rs 1,271 horizontal support, a structurally significant level where prior demand emerged. The speed and magnitude of the fall without a meaningful counter-rally is itself a contra signal — such vertical drops in large-cap blue chips rarely sustain without at least a technical retracement. RSI has plunged to extreme oversold levels (sub-32), and the MACD, while still deeply negative, is beginning to show histogram compression indicating momentum exhaustion. Volume spike during the sell-off resembles a capitulation event. A contra long entry near Rs 1,305–1310 on a closing basis targets a recovery toward Rs 1,430 and potentially Rs 1,550 on continuation. A weekly close below Rs 1,192.20 negates the setup entirely.  

ITC | Buy | Target Price: Rs 368.35 | Stop Loss: Rs 287.50

ITC Ltd is consolidating above the Rs 300–304 support zone after a sharp corrective decline from Rs 369, indicating base formation near a historically significant demand area. The stock is displaying a series of higher lows over recent weeks, suggesting gradual absorption of supply and improving price structure at current levels. RSI is recovering from deeply oversold territory and trending upward, reflecting strengthening momentum that favors buyers at this juncture. MACD is witnessing a positive histogram crossover with the differential beginning to narrow meaningfully, signaling that bearish momentum is dissipating and upside traction is building. Volume around the Rs 300–305 support zone carries characteristics of accumulation rather than distribution, with the stock repeatedly finding buyers on dips to this level. Sustaining above Rs 316 on a weekly closing basis can trigger a pullback toward Rs 345–358 in the near term and potentially Rs 368.35 on a fuller recovery toward prior highs. However, a decisive weekly close below Rs 287.50 would weaken the recovery structure and invalidate the bullish bias entirely.  

Hindustan Aeronautics | Buy | Target Price: Rs 5,096.95 | Stop Loss: Rs 3,668.95

HAL is finding support near the critical Rs 3,900–3950 demand zone after a sharp corrective decline from the Rs 4,979.60 supply zone, with the stock now testing a structurally significant horizontal level that had previously acted as a strong base during the 2025 consolidation phase. Price is showing early signs of stabilisation at this zone with the current week's candle attempting recovery, indicating buyers are stepping in at multi-month lows. RSI has slipped to the 37– 40 range, approaching oversold territory, and is beginning to curl upward — a condition that has historically preceded sharp rebounds in defence sector names. MACD remains negative but the histogram contraction over recent weeks signals that bearish momentum is decelerating meaningfully. Volume on the current recovery candle is notably higher than prior down-weeks, pointing toward genuine demand re-entry at this level. Sustaining above Rs 3,900 can trigger a recovery toward Rs 4,348–4,575 in the near term and R 5,096.55 on a fuller retracement. However, a decisive weekly close below Rs 3,668.95 would weaken the recovery structure and invalidate the bullish bias entirely.  

BEML | Buy | Target Price: Rs 2,131.90 | Stop Loss: Rs 1,437.60

BEML Ltd is consolidating near the Rs 1,560-1600 demand zone after a prolonged corrective decline from the Rs 2,268 supply wall, indicating base formation at a level that previously arrested selling during the January 2025 markdown. The stock has been respecting this zone across multiple weekly closes, suggesting steady absorption of supply by patient buyers at current levels. RSI is hovering near the 37 mark and beginning to flatten out, reflecting a transition from bearish momentum to a neutral-to-recovering state that often precedes a directional move higher. MACD remains in negative territory but the histogram is visibly contracting, signaling that downside momentum is exhausting and a crossover attempt is building. Volume around the Rs 1,560–1,570 zone reflects quiet accumulation rather than panic selling, consistent with institutional positioning ahead of a potential recovery. Sustaining above Rs 1,600 on a weekly closing basis can trigger a pullback toward Rs 1,900–2,131 in the near term. However, a decisive close below Rs 1,437.60 would weaken the recovery structure and invalidate the bullish bias entirely.