Technical stock picks for 2026: M&M, Marico and Hindustan Petroleum outlined with entry points and targets

Equity investors heading into 2026 are being guided towards three large listed names, as Sumeet Bagadia from Choice Broking highlights Mahindra & Mahindra, Marico, and Hindustan Petroleum as preferred New Year stock picks. The view is based on technical setups that show defined support zones, measured upside targets, and clear stop levels, which may appeal to traders seeking structured risk management.

Bagadia notes that each counter is trading within a broader bullish trend on daily charts, despite recent consolidation phases. Price action, moving averages, and momentum indicators are cited as key tools for these calls, with the analyst emphasising that current levels still allow fresh entries, while dips towards specified demand zones can offer staged accumulation opportunities.

Across the three stocks, the suggested buying strategy combines current market price entries with scope to add on declines. Targets for the trades range between short-term resistance levels and upper channel projections, while 200-day exponential moving averages (EMAs) are treated as major structural supports. This framework seeks to balance upside expectations with defined downside protection for market participants.

For all recommendations, Bagadia proposes specific buy ranges, upside price objectives, and key support levels that can work as stop-loss reference areas. The call on Mahindra & Mahindra is to "Buy M&M @ 3650 & Upto 3540 for the Target of 4000/ 4180"; Marico is advised as "Buy MARICO @ 741 & Upto 723 for the Target of 820/ 855"; while Hindustan Petroleum is pitched as "Buy HINDPETRO @ 470 & Upto 460 for the Target of 525/ 550".

Mahindra & Mahindra is described as being in a sustained primary uptrend, with the latest phase marked by consolidation near recent highs. The pattern resembles a falling wedge close to the top range, which, according to Bagadia, reflects controlled profit booking rather than any confirmed reversal signal, keeping the underlying structure constructive for long positions.

Price for M&M is holding above a demand area between 3500 and 3550, which also overlaps with the 100-day EMA, strengthening that band as near-term support. A deeper cushion lies around 3250-3350, where the 200-day EMA sits, forming a key medium-term base. With the stock hovering near 3650, resilience around the 20-day EMA hints that buyers continue to step in on intraday or short-lived declines.

The momentum backdrop for M&M shows the Relative Strength Index close to 51, suggesting neutral conditions with room for further upside if consolidation breaks higher. Bagadia maintains a positive stance at current market price, projecting a move first towards 4000 and then 4180. Weakness towards 3540 is seen as an opportunity to accumulate, while 3350 is flagged as an important structural support level for the longer trend.

Hindustan Petroleum stock picks 2026: Trend, supports and targets

Hindustan Petroleum is viewed as having resumed its broader uptrend after an earlier corrective phase, with the stock now forming higher highs and higher lows. The present phase is characterised as consolidation near the upper band of its recent range, which is interpreted as profit taking in an ongoing bullish pattern, instead of an early sign of a breakdown.

Price is trading above a demand region between 460 and 465 that lines up with the 50-day EMA, indicating active buying interest on dips to that zone. The 200-day EMA, placed around 440-445, offers further medium-term support, thereby reinforcing the positive structure. A previous resistance region near 490 remains an important hurdle, which traders may watch as an intermediate checkpoint for the upside scenario.

With the counter currently near 470, Hindustan Petroleum is holding above both short- and medium-term moving averages, which Bagadia reads as evidence that declines continue to attract buyers. The RSI is around 58, indicating positive momentum without entering extreme overbought territory. The analyst sees scope for an advance towards 525 and later 550, with pullbacks towards 460 considered suitable for fresh or additional buying, and 442 treated as a major structural floor.

Marico stock picks 2026: Price channel and accumulation zones

Marico is also assessed to be in a steady long-term uptrend, moving within a rising channel on the daily chart. Following a sharp bounce from the March lows, price has been consolidating inside this upward sloping band, signalling ongoing accumulation and digestion of gains. The pattern of higher highs and higher lows remains intact, supporting the bullish view from a trend perspective.

The stock is trading well above a 720-725 demand pocket, which closely overlaps with the 50-day and 100-day EMAs, strengthening that area as an important near-term base. The 200-day EMA, currently near 690-700, adds another layer of support for medium-term investors. With Marico around 741, price is hovering close to short-term moving averages, indicating that buyers are still defending minor pullbacks.

Bagadia notes that momentum indicators for Marico display steady strength with space for further gains if the channel holds. The price structure is described as constructive, and the stock is tagged as a buy at current levels with an expected leg higher towards 820 and then 855, which coincide with the upper band of the rising channel and measured move estimates. Dips nearer 723 may be used for accumulation, while 690 is underlined as a crucial support for the broader trend.

Stock picks 2026 snapshot: Buy ranges, targets and supports

For investors comparing the three recommendations, the key trading parameters can be summarised using common metrics, including current buying zones, upside objectives, and main support references based on EMAs and previous demand or resistance regions. The table below outlines the levels highlighted by Bagadia for each stock, reflecting the suggested tactical framework.

Stock	Suggested Buy Zone	Primary Targets	Key Near-Term Support	Major Structural Support
Mahindra & Mahindra (M&M)	3650 and down to 3540	4000 / 4180	3500-3550 (near 100-day EMA)	3250-3350 (near 200-day EMA)
Marico	741 and down to 723	820 / 855	720-725 (near 50- and 100-day EMA)	690-700 (near 200-day EMA)
Hindustan Petroleum (HINDPETRO)	470 and down to 460	525 / 550	460-465 (near 50-day EMA)	440-445 (near 200-day EMA), with 442 highlighted

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For finance readers, these technical views on Mahindra & Mahindra, Marico, and Hindustan Petroleum present defined trading plans with mapped targets and supports. The calls rest entirely on chart-based analysis rather than fundamentals, so investors may treat them as short- to medium-term ideas and align any action with individual risk profiles and independent professional advice.