M&M, Hindustan Petroleum, Marico: Top stock picks for 2026 by Choice Broking

Indian stock markets are looking to end 2025 with modest gains as BSE Sensex and Nifty50 index rise 8-9 per cent in the given calendar led by volatility. Amid the rising turmoil, brokerage firm Choice Broking has suggested three stocks, namely- Mahindra & Mahindra Ltd, Hindustan Petroleum Corporation Ltd and Marico- for the upcoming year, which may deliver healthy gains to the investors. Here's what the brokerage firm has said about these counters in the coming calendar:  

Mahindra & Mahindra | Buy | Target Price: Rs 4,000-4,180 | Stop Loss: Rs 3,350

M&M continues to trade in a strong long-term uptrend and is currently undergoing a healthy consolidation after a sharp rally. The stock is forming a falling wedge–like structure near the top, indicating controlled profit booking rather than trend reversal. Price is holding above the key demand zone of 3500–3550, which aligns with the 100-day EMA, while the 200-day EMA near Rs 3,250–3,350 reinforces strong medium-term support. Currently trading around 3650, M&M is showing resilience near the 20-day EMA, suggesting buyers are active on dips. The RSI is hovering near 51, indicating neutral momentum with room for an upside expansion once the consolidation resolves. The stock remains a buy at CMP, with potential for a fresh upside move toward Rs 4,000, followed by Rs 4,180. On the downside, declines toward Rs 3,540 may be used as accumulation opportunities, while Rs 3,350 continues to act as a key structural support for the broader trend.  

Hindustan Petroleum Corporation | Buy | Target Price: Rs 525-550 | Stop Loss: Rs 442

Hindustan Petroleum continues to trade in a strong long-term uptrend, having resumed its bullish structure after a corrective phase earlier. The stock has posted higher highs and higher lows and is currently undergoing a healthy consolidation near the upper end of the range, indicating profit booking rather than a trend reversal. Price is holding comfortably above the 460–465 demand zone, which coincides with the 50-day EMA, while the 200-day EMA placed near Rs 440–445 provides strong medium-term support and reinforces the broader bullish structure. The previous resistance zone near Rs 490 remains a key hurdle on the upside. Currently trading around 470 the stock is showing stability above short- and medium-term moving averages, suggesting buyers are active on declines. The RSI is hovering near 58, indicating positive momentum with sufficient room for further upside without entering overbought territory. The stock remains a buy, with potential for a fresh upside move toward Rs 525, followed by Rs 550.  

Marico | Buy | Target Price: Rs 820-855 | Stop Loss: Rs 690

Marico Ltd continues to trade in a strong long-term uptrend, supported by a well-defined rising channel on the daily chart. After a sharp recovery from the March lows, the stock has been consolidating within this upward sloping channel, indicating healthy consolidation and sustained accumulation rather than any trend reversal. Price is holding firmly above the key demand zone of Rs 720–725, which aligns closely with the 50-day and 100-day EMA, reinforcing near-term support. The 200-day EMA near Rs 690–700 acts as a strong medium-term base, keeping the broader bullish structure intact. Currently trading around Rs 741, Marico is showing resilience near the short-term moving averages, suggesting buyers are actively defending dips. The overall price structure remains constructive, with higher highs and higher lows intact, and momentum indicators reflecting steady strength with scope for further upside. The stock remains a buy, with potential for a fresh upside move toward Rs 820, followed by Rs 855.