Frontline seamer Bracewell missed the first Test, which finished in a draw in Dunedin, after cutting his foot on a glass while cleaning up after a house party.
The Kiwis went on to bowl England out for just 167 in the first innings, but could not press on for victory in a match shortened by a washout on day one.
Veteran seamer Ian Butler, who replaced Bracewell in the squad for the first Test but did not feature in the playing XI, is retained for Wellington as is back-up opener Tom Latham.
New Zealand will judge "closer to the time" whether Bracewell will be available for the final Test in Auckland on March 22.
Coach Mike Hesson is happy to keep faith with the squad he had to choose from at the University Oval.
"I was very pleased with both the bowling and batting efforts in Dunedin, and we plan to build on that in Wellington," he said.
New Zealand team to face England in the second Test, from: B McCullum (Captain), T Boult, D Brownlie, I Butler, P Fulton, T Latham, B Martin, H Rutherford, T Southee, R Taylor, N Wagner, BJ Watling (wkt), K Williamson