Buy or Sell: Raja Venkatraman recommends three stocks to buy today—20 February

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Subscribe to enjoy similar stories. After witnessing some sharp decline on 19 February, the markets are now resolved to hold on to the much hallowed 22800 and survive the intense selling pressure. While the entire market was bracing for a decline, as we mentioned yesterday, the intraday support around 22800 in Nifty continues to hold.

Nifty remained subdued and the inability to stage a good recovery remained at a distant. The rally sell approach is being adopted that continue to hamper the recovery attempts. With the absence of encouraging triggers to we need to tread to move ahead carefully with Nifty as it tries to stabilise the trends ahead.

Concerns have been increasing amongst the Indian market participants as crude oil prices have been rising over the last few sessions, putting pressure on the rupee. There is now a resurgence in the dollar, majorly due to persistent outflows from foreign institutional investors (FIIs), which may also negatively impact the domestic currency. Dr Reddy's Laboratories, TCS, Hindustan Unilever, Infosys, and Adani Enterprises were among the major losers on the Nifty index, while Bharat Electronics, Hindalco, L&T, Axis Bank, and Eicher Motors were the top gainers.

As a relief rally emerged, we once again witnessed the BSE Midcap index rising by 1.2%, and the Smallcap index gaining 2.4%t. Sector-wise, IT and pharma lost 1% each, while media, metal, PSU banks, realty, and capital goods sectors saw gains of 1-2% Going into today's trading action, the market remained mixed, as the attempt to suppress the bearish sentiment has been successful so far. Each sector has some strong performers who are managing to keep the bullish sentiment alive.