Top stocks to buy (AI image)

Stock market recommendations: According to Bajaj Broking Research, the top stock picks for January 30, 2026 are State Bank of India (SBI), and Jayaswal Neco Industries. Here’s its view on Nifty and Bank Nifty:Index View: NIFTYIndian benchmark indices witnessed a rebound during current week, with the Nifty extending its gains reflecting sustained bullish momentum in domestic markets. Sentiment remained positive, supported by optimism around the India–EU Free Trade Agreement, which is expected to improve trade prospects and support medium-term economic growth.In the global market the US Federal Reserve held rates steady at 3.50%–3.75% in a 10–2 vote, noting stabilizing labor conditions, modest job growth, and elevated uncertainty, while upgrading its growth outlook to solid expansion.Volatility is expected to remain high in the coming seasons due to the Union Budget on February 1, 2026, and volatile global cues.The index has bounced over 500 points in the last three sessions from the key support zone of 24,800–25,000, which aligns with the lower end of the seven-month rising channel and the 52-week EMA.Overall, the index is likely to consolidate in the range of 25,000–25,550 range, with stock-specific moves dominating. A move above 25,550 will open further upside towards 25,700-25,800 levels in the coming sessions. On the downside immediate support is placed at 25,150 levels while key support is placed around 25,000-24,900 levels.BANK NIFTYBank Nifty extended its outperformance, displaying clear relative strength. It is currently placed around 60,000 levels. Volatility is likely to stay elevated in the coming sessions due to the Union Budget on February 1, 2026, and uncertain global cuesIndex in the short term is likely to consolidate in the range of 60,400-58,500, only a move above the recent high of 60,400 will open further upside towards 61,500 levels. Key support as mentioned in earlier edition is placed at 58,000-57,500 levels being the confluence of the 100 days EMA and the major breakout area.

Stock Recommendations:

State Bank of IndiaBuy in the range of ₹ 1030-1070

The stock has generated a breakout above a bullish rounding formation thus offers fresh entry opportunity.We expect the stock to maintain positive bias and head towards 1150 levels in the coming quarters being the measuring implication of the rounding formation.The weekly MACD in uptrend sustaining above its nine periods average thus validates positive bias.Jayaswal Neco IndustriesBuy in the range of 72-75

Jayaswal Neco has corrected from its recent high of 94 and is currently trading near its medium – term trendline support, which also aligns with the 100 – day EMA. Historically, the stock has found support near the 100 – day EMA and staged rebounds from these levels, indicating strong buying interest and conviction.Immediate support is placed in the 68 –70 zone, which coincides with the key trendline support area.On the upside, the stock is expected to move towards the unfilled gap zone in the range of 80 and 86, which is likely to act as a resistance area. This zone also aligns with the 61.8% retracement of the previous swing, adding to its technical significance.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)