RIL, IREDA, GRSE, United Breweries & Bharat Forge shares: Nilesh Jain of Centrum Broking weighs in
Nilesh Jain added that sub-index Nifty Bank appeared stronger on charts and could reach 61,200-62,700 in the short term. He recommended a 'buy-on-dip' strategy for investors.
- Feb 9, 2026,
- Updated Feb 9, 2026 3:49 PM IST
Nilesh Jain, Assistant Vice-President (Derivative and Technical Research) at Centrum Broking, believes a break above 26,000 level would signal positive sentiment for the benchmark Nifty50. Speaking to Business Today on Monday, he said, "If this happens, the index has the potential to hit 26,200 in the near term on the back of short covering."
Jain added that sub-index Nifty Bank appeared stronger on charts and could reach 61,200-62,700 in the short term. He recommended a 'buy-on-dip' strategy for investors.
The market expert also shared his views on individual stocks:
Bharat Forge Ltd: Jain said, "The stock looked strong on charts and is trading above all long-term and short-term moving averages. On the higher end, we can see upside targets of Rs 1,700-1,800 from a short- to medium-term perspective. It is also possible that Bharat Forge may scale towards Rs 2,000 from a positional point of view. One should keep a stop loss of Rs 1,480 and stay put in the counter. For fresh positions, investors should wait for a dip towards Rs 1,500-1,520."
Garden Reach Shipbuilders & Engineers Ltd (GRSE): He advised buying in a staggered manner, stating, "One should consider buying GRSE shares in multiple tranches. Rs 2,200 could be the first entry point as the stock has rebounded from the said level many times. If it breaks below that, then the second level on the lower side would be somewhere around Rs 2,000-1,990."
Indian Renewable Energy Development Agency Ltd (IREDA): Jain noted that the stock's structure remained weak. "Don't see any V-shaped kind of recovery and it may remain sideways for some more time. An exit on pullback would be the strategy for now," he said.
Reliance Industries Ltd (RIL): Jain highlighted the stock as a strong portfolio bet. "From a short-term perspective, RIL looks attractive on charts and expected targets would be between Rs 1,520 and Rs 1,580. Keep a stop loss placed at Rs 1,400. Positionally, the stock has potential to touch Rs 1,700-1,800 levels," he stated.
United Breweries Ltd: Commenting on the stock, Jain said, "The stock is trading near its multi-year support levels, which are placed at Rs 1,370 to Rs 1,400. At present, we are witnessing a pullback move, but the broader structure is still on the weaker side. The counter should surpass Rs 1,650 to negate this view. Once that happens, a pullback is likely towards Rs 1,580-1,650."
Nilesh Jain, Assistant Vice-President (Derivative and Technical Research) at Centrum Broking, believes a break above 26,000 level would signal positive sentiment for the benchmark Nifty50. Speaking to Business Today on Monday, he said, "If this happens, the index has the potential to hit 26,200 in the near term on the back of short covering."
Jain added that sub-index Nifty Bank appeared stronger on charts and could reach 61,200-62,700 in the short term. He recommended a 'buy-on-dip' strategy for investors.
The market expert also shared his views on individual stocks:
Bharat Forge Ltd: Jain said, "The stock looked strong on charts and is trading above all long-term and short-term moving averages. On the higher end, we can see upside targets of Rs 1,700-1,800 from a short- to medium-term perspective. It is also possible that Bharat Forge may scale towards Rs 2,000 from a positional point of view. One should keep a stop loss of Rs 1,480 and stay put in the counter. For fresh positions, investors should wait for a dip towards Rs 1,500-1,520."
Garden Reach Shipbuilders & Engineers Ltd (GRSE): He advised buying in a staggered manner, stating, "One should consider buying GRSE shares in multiple tranches. Rs 2,200 could be the first entry point as the stock has rebounded from the said level many times. If it breaks below that, then the second level on the lower side would be somewhere around Rs 2,000-1,990."
Indian Renewable Energy Development Agency Ltd (IREDA): Jain noted that the stock's structure remained weak. "Don't see any V-shaped kind of recovery and it may remain sideways for some more time. An exit on pullback would be the strategy for now," he said.
Reliance Industries Ltd (RIL): Jain highlighted the stock as a strong portfolio bet. "From a short-term perspective, RIL looks attractive on charts and expected targets would be between Rs 1,520 and Rs 1,580. Keep a stop loss placed at Rs 1,400. Positionally, the stock has potential to touch Rs 1,700-1,800 levels," he stated.
United Breweries Ltd: Commenting on the stock, Jain said, "The stock is trading near its multi-year support levels, which are placed at Rs 1,370 to Rs 1,400. At present, we are witnessing a pullback move, but the broader structure is still on the weaker side. The counter should surpass Rs 1,650 to negate this view. Once that happens, a pullback is likely towards Rs 1,580-1,650."