Buy or sell stocks: Raja Venkatraman recommends three stocks today — 13 February

livemint.com:

Subscribe to enjoy similar stories. In yesterday's article, we said that further weakness could be seen moving forward and this proved true. If we go back in time, we did witness a robust surge before the RBI policy announcement.

Later, the market trends swiftly reversed, showcasing a persistent bearish bias. The rapid decline in upward momentum indicates that rallies are encountering selling pressure at higher levels. The failure of trends to advance highlights the strength of the prevailing bearish sentiment.

With broader indices remaining negative, certain factors continue to influence the trend. Consequently, it's crucial to reassess our market participation strategy for this series. Recent dips occurred quickly, as these levels faced significant selling interest, effectively suppressing any bullish momentum.

The trading pathway was mentioned yesterday, calling for a shift in guard advocating a ‘sell on rally’ to be adopted. This could continue to be the scenario as the trends have remained suppressed. The daily chart shown last week continues to indicate that Nifty remains under fire as bears are able to assert their authority.

With a change in guard, we continue to maintain any intraday rally towards the 23200 as a selling zone. Until the trendline zone marked on the charts is given up, we can experience some bearish drive. Going by the trends, we should now look at some stock-specific action to persist for the coming week.