Stock to buy: Shriram Finance has emerged as Republic Day stock pick for 2026 by Sumeet Bagadia of Choice Broking. The NBFC stock is backed by a strong technical structure and sustained buying interest across timeframes. The brokerage highlighted that the stock has been exhibiting a clear higher high–higher low formation on the daily chart, a classic signal of trend continuation.
On Friday, January 23, Shriram Finance share price ended marginally lower, down 0.29% to close at ₹1,003.45 on the BSE. The stock has gained in the recent times. It has rallied 89 % in last 1 year.
The NBFC stock has risen 53% in the past six month and 41% in three months and 5% in last 1 month. The stock is currently just 2% way from its peak of ₹1,025.00, hit in January 2026. However, it has rallied over 97% from its 52-week low of ₹508.95, hit in January 2025. Meanwhile, in the last 5 years, it has given multibagger returns soaring 336%.
According to Choice, Shriram Finance was trading around ₹1,007, supported by steady volumes that suggest ongoing accumulation and strong market participation. The stock recently found support near its 20-day exponential moving average (EMA) around ₹980 and has resumed its upward trajectory, reinforcing the short-term bullish bias.
Republic Day Pick by Sumeet Bagadia
Buy SHRIRAMFIN at ₹1,007 and Upto ₹980 for the Target of ₹1110/1165
From a broader technical perspective, Bagadia said Shriram Finance remains firmly bullish as it continues to trade well above its 20-day, 50-day, 100-day and 200-day EMAs, all of which are sloping upward. “The stock remains firmly bullish as it continues to trade well above its key moving averages, underscoring the strength of the prevailing trend,” he added.
The expert further stated that after a healthy accumulation phase, the resumption of upward momentum could open the door for medium- to long-term targets of ₹1,110 and ₹1,165. Momentum indicators also support the positive outlook, with the relative strength index (RSI) at 66.89, indicating strong momentum while still staying below overbought levels.
Bagadia advised investors to consider long positions near current levels, with dips offering accumulation opportunities up to ₹980, while maintaining positional support near ₹945 to manage downside risk. “With momentum indicators trending higher, the stock is well-placed to continue its upward move,” he noted.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
