Business · Markets · 1 day ago
Choice Broking names Bank of Maharashtra as a Navratri stock pick
Choice Broking’s Sumeet Bagadia named Bank of Maharashtra, a public sector bank in India, as a stock pick for Navratri 2026.
The brokerage’s recommendation is based on technical analysis of the share’s price movements, rather than a discussion of the bank’s finances.
It said the stock had been in an uptrend and had moved above a period of sideways trading.
The brokerage also pointed to support near the stock’s 20-week average price and a momentum indicator above 50.
It suggested buying around ₹82.75 and adding to a position if the price falls towards ₹80, with targets of ₹91 and ₹96.
The ₹76 level is important to its outlook; a sustained fall below it would prompt a reassessment.
The recommendation is for positional traders, and the stated targets are not guaranteed.
Choice Broking executive director Sumeet Bagadia named Bank of Maharashtra as a Navratri 2026 stock pick.
The brokerage’s report, dated October 9, recommended buying at ₹82.75 and adding to the position if the price falls towards ₹80.
It set upside price targets of ₹91 and ₹96, and identified ₹76 as an important support level.
Bagadia cited the stock’s higher-high and higher-low pattern, a breakout from sideways trading, support near its 20-week EMA and an RSI above 50.
Bank of Maharashtra shares had gained 47% over one year and 303% over five years, according to the article.
- Who
- Sumeet Bagadia, executive director at Choice Broking
- What
- A technical-based recommendation naming Bank of Maharashtra as a Navratri 2026 stock pick
- When
- The report was dated October 9, 2026
- Where
- Not stated
- Why
- Choice Broking cited an uptrend, a breakout, support near the 20-week EMA and bullish momentum
This story does not have two clearly opposing sides.
Bank of Maharashtra is showing a positive technical setup on the weekly chart, with the stock maintaining a higher-high and higher-low structure, indicating a sustained uptrend. The stock has previously broken out of a sideways consolidation range.
For positional trades, buying can be considered around 82.75, with additional accumulation on dips towards ₹80. The stock has the potential to move towards upside targets of 91 and 96. The 76 level remains an important support zone,
This story does not have a timeline yet.
- Recommended entry price
- ₹82.75
- Additional buying level
- Near ₹80
- Price targets
- ₹91 and ₹96
- Key support
- ₹76
- One-year share gain
- 47%
Sources
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