Stocks to buy: 7 shares look solid on technical charts, may rally in 2026
Stock ideas: ICICI Direct said Bajaj Finserv may head towards Rs 2,400 in coming months as it is implicated target of recent consolidation of Rs 2,135-1,890, coincided with upper band of rising channel.
- Dec 12, 2025,
- Updated Dec 12, 2025 3:10 PM IST
Bajaj Finserv Ltd, Indian Oil Corporation Ltd (IOC), LTIMindtree Ltd and Pidilite Industries Ltd are among seven stocks that look strong on technical charts, and also fundamentally, and could deliver 16-23 per cent return over the next 12 months, ICICI Direct said on Friday. Other three included SRF, Can Fin Homes and Jamna Auto Industries.
ICICI Direct said Bajaj Finserv may head towards Rs 2,400 in coming months as it is implicated target of recent consolidation of Rs 2,135-1,890, coincided with upper band of rising channel. In 2025, the stock logged a resolute breakout from Ascending triangle and currently forming a higher base above breakout the area that confirms structural improvement.
"Noteworthy point is that, post multi year range breakout, stock has been respecting 12 months EMA (equivalent to 52 weeks EMA), highlighting buying demand at elevated support base," it said.
Fundamentally, the domestic brokerage said selective product approach, strong distribution mix, and focus on limiting opex remain business moats for BAGIC, while focus on product mix with gradually improving VNB margins remains target for life insurance business.
On IOC, ICICI Direct said: "The stock has completed yet another consolidation phase with price has recently broken above the upper boundary of this consolidation, repeating the same historical pattern, indicating continuation of long-term structural uptrend. We expect, stock to resume uptrend and move towards target of Rs 190 being the vicinity of its all-time high levels."
Fundamentally, the OMC is well-positioned to benefit from fall in crude prices, improvement in refining margins, fuel consumption growth and petchem demand growth in India, ICICI Direct said.
ICICI Direct said since 2009, every 34 per cent IT index correction has historically set the stage for a fresh uptrend; the current 33 per cent drawdown and rebound suggests a similar slowdown in selling pressure and a potential trend reversal. LTIMindtree, ICICI Direct said stands out as its top IT sector candidate as it approaches an apex point of its contracting triangle formation.
"The recent corrective phase has been orderly, retracing to the 61.8 per cent mark of the prior 1,335–7,564 uptrend, precisely converging with the 24-month EMA. This confluence underscores a robust long-term base We expect, stock to resume uptrend and head towards its all-time towards Rs 7,370, being 123 per cent implied target of previous decline (Rs 6,767-3,802)," ICICI Direct said.
With the LTIM management confident of delivering double-digit dollar revenue growth by end-FY26 & further margin improvement trajectory, ICICI Direct expects LTIMindtree to outperform peers on earnings momentum, justifying premium valuation vs peers.
In the case of Pidilite, ICICI Direct said since 2009 on multiple occasions the stock has held its 100 week EMA. In current scenario as well buying demand emerged from 100-week EMA coinciding with rising trendline suggesting strong base. "We expect, stock to continue its uptrend and move towards target of Rs 1,720 as it is implemented target of recent consolidation (Rs 1,575-1,423)," it said.
On the fundamental side, ICICI Direct said Pidilite’s steady earnings growth, sturdy balance sheet and good return profile with RoE and RoCE standing at 20-21 per cent makes it a better play in the building material space considering improved demand visibility in the domestic market.
The domestic brokerage said SRF has decisively broken out of a 38-month consolidation band, signalling the end of its prolonged time correction. It sees the stock resuming uptrend and head towards Rs 3,480, being 123 per cent implied target of previous decline of Rs 3,325-2,778 levels.
"We expect both the subsegments, Specialty chemicals and Fluorochemicals to drive growth on the back of key launches and changing global dynamics. Other two segments continue to demonstrate commoditized trend although the company has earmarked significant capex for packaging films as well. Accordingly, based on the SoTP valuation, we value the Chemicals Business at 26x, Performance Films Business at 10x and Technical Textiles Business at 5x Ebitda," it said.
Can Fin Homes has also staged a strong rebound after retesting five years consolidation breakout and now it is set to challenge the all time high with the earlier resistance is now acting as strong support as per change of polarity concept.
"Structurally, price action since 2018 has been captured in a well-defined rising channel. Even in recent decline buying demand emerged from lower band of rising channel, highlighting strength at elevated support base We expect, stock to accelerate the upward momentum and head towards target of Rs 1,110 as it is the price parity of CY20-21 rally (Rs 253-722), projected from Feb-25 low of Rs 406," ICICI Direct said.
On Jamna Auto, ICICI Direct said faster pace of retracement on the weekly chart clearly depicts inherent strength as over past three weeks advance it recovered its entire nine-week correction (Rs 114-89). "We expect, stock to resume uptrend and head towards Rs 152 as it is the measured move target of recent upside (Rs 87-122)," it said.
Fundamentally, with greenfield expansion underway, net debt free balance sheet, return ratios at 20 per cent and healthy cash generation, ICICI Direct said it is positive on Jamna Auto with medium to long term investment horizon.
Bajaj Finserv Ltd, Indian Oil Corporation Ltd (IOC), LTIMindtree Ltd and Pidilite Industries Ltd are among seven stocks that look strong on technical charts, and also fundamentally, and could deliver 16-23 per cent return over the next 12 months, ICICI Direct said on Friday. Other three included SRF, Can Fin Homes and Jamna Auto Industries.
ICICI Direct said Bajaj Finserv may head towards Rs 2,400 in coming months as it is implicated target of recent consolidation of Rs 2,135-1,890, coincided with upper band of rising channel. In 2025, the stock logged a resolute breakout from Ascending triangle and currently forming a higher base above breakout the area that confirms structural improvement.
"Noteworthy point is that, post multi year range breakout, stock has been respecting 12 months EMA (equivalent to 52 weeks EMA), highlighting buying demand at elevated support base," it said.
Fundamentally, the domestic brokerage said selective product approach, strong distribution mix, and focus on limiting opex remain business moats for BAGIC, while focus on product mix with gradually improving VNB margins remains target for life insurance business.
On IOC, ICICI Direct said: "The stock has completed yet another consolidation phase with price has recently broken above the upper boundary of this consolidation, repeating the same historical pattern, indicating continuation of long-term structural uptrend. We expect, stock to resume uptrend and move towards target of Rs 190 being the vicinity of its all-time high levels."
Fundamentally, the OMC is well-positioned to benefit from fall in crude prices, improvement in refining margins, fuel consumption growth and petchem demand growth in India, ICICI Direct said.
ICICI Direct said since 2009, every 34 per cent IT index correction has historically set the stage for a fresh uptrend; the current 33 per cent drawdown and rebound suggests a similar slowdown in selling pressure and a potential trend reversal. LTIMindtree, ICICI Direct said stands out as its top IT sector candidate as it approaches an apex point of its contracting triangle formation.
"The recent corrective phase has been orderly, retracing to the 61.8 per cent mark of the prior 1,335–7,564 uptrend, precisely converging with the 24-month EMA. This confluence underscores a robust long-term base We expect, stock to resume uptrend and head towards its all-time towards Rs 7,370, being 123 per cent implied target of previous decline (Rs 6,767-3,802)," ICICI Direct said.
With the LTIM management confident of delivering double-digit dollar revenue growth by end-FY26 & further margin improvement trajectory, ICICI Direct expects LTIMindtree to outperform peers on earnings momentum, justifying premium valuation vs peers.
In the case of Pidilite, ICICI Direct said since 2009 on multiple occasions the stock has held its 100 week EMA. In current scenario as well buying demand emerged from 100-week EMA coinciding with rising trendline suggesting strong base. "We expect, stock to continue its uptrend and move towards target of Rs 1,720 as it is implemented target of recent consolidation (Rs 1,575-1,423)," it said.
On the fundamental side, ICICI Direct said Pidilite’s steady earnings growth, sturdy balance sheet and good return profile with RoE and RoCE standing at 20-21 per cent makes it a better play in the building material space considering improved demand visibility in the domestic market.
The domestic brokerage said SRF has decisively broken out of a 38-month consolidation band, signalling the end of its prolonged time correction. It sees the stock resuming uptrend and head towards Rs 3,480, being 123 per cent implied target of previous decline of Rs 3,325-2,778 levels.
"We expect both the subsegments, Specialty chemicals and Fluorochemicals to drive growth on the back of key launches and changing global dynamics. Other two segments continue to demonstrate commoditized trend although the company has earmarked significant capex for packaging films as well. Accordingly, based on the SoTP valuation, we value the Chemicals Business at 26x, Performance Films Business at 10x and Technical Textiles Business at 5x Ebitda," it said.
Can Fin Homes has also staged a strong rebound after retesting five years consolidation breakout and now it is set to challenge the all time high with the earlier resistance is now acting as strong support as per change of polarity concept.
"Structurally, price action since 2018 has been captured in a well-defined rising channel. Even in recent decline buying demand emerged from lower band of rising channel, highlighting strength at elevated support base We expect, stock to accelerate the upward momentum and head towards target of Rs 1,110 as it is the price parity of CY20-21 rally (Rs 253-722), projected from Feb-25 low of Rs 406," ICICI Direct said.
On Jamna Auto, ICICI Direct said faster pace of retracement on the weekly chart clearly depicts inherent strength as over past three weeks advance it recovered its entire nine-week correction (Rs 114-89). "We expect, stock to resume uptrend and head towards Rs 152 as it is the measured move target of recent upside (Rs 87-122)," it said.
Fundamentally, with greenfield expansion underway, net debt free balance sheet, return ratios at 20 per cent and healthy cash generation, ICICI Direct said it is positive on Jamna Auto with medium to long term investment horizon.