Best stocks to buy today: Raja Venkatraman recommends three stocks—27 March
Subscribe to enjoy similar stories. Here are three stocks to buy, as recommended by Raja Venkatraman of NeoTrader for Thursday, 27 March. • Ambuja Cements Ltd: Buy ₹535 | Stop loss ₹520 | Target ₹575-590 • JTEKT India Ltd: Buy ₹135 | Stop loss ₹131 | Target ₹141-144 • Blue Dart Express Ltd: Buy ₹6,350 | Stop loss ₹6150 | Target ₹6,850-7,000 On 26 March, the broader market indices saw significant profit booking at elevated levels, with the Nifty 50 closing 182 points lower and the Sensex declining by 729 points.
On the sectoral front, nearly all major indices experienced intraday selling pressure as profit booking was seen at a rapid pace. Technically, after opening flat, the market encountered consistent selling pressure throughout the session. From the day’s peak, the indices corrected by over 285 points for the Nifty 50 and 950 points for the Sensex.
The global cues continue to be mixed thus causing some inconsistent triggers that can persist in the coming days. Currently, leveraged positions (long) are shed and some shorts are also in place. This can facilitate more declines as people can join the short side if a break below 23,400 emerges.
Equally, it can present us with a bullish scenario if supports turn out to be favourable. People are much quicker to create fresh longs than fresh shorts, as a norm. Market men are pushing for a decline than an advance.
The ADX and DMI is seen generating a bearish trend and will continue to attract more sell-off on rallies to higher levels. Hence, any advances that emerge must be considered as a sell opportunity. With the Open Interest data indicating that the Put Call Ratio is at 1.01 as we are nearing the last day of the monthly expiry, we should be looking at the trends moving
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