Five stocks to buy and sell today — 22 January

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Subscribe to enjoy similar stories. • Datamatics Global Services Ltd: Buy at ₹665 | Stop ₹648 | Target ₹705 IT sector is going through some profit booking scenario while some select names have been able to revive, and the recent rally witnessed some sharp sell-off, and the inability of the price to hold on in the recent reaction indicates that the trends are showing some signs of buying interest. With a potential for more upside one can consider going long.

Also read: Why Tech Mahindra’s turnaround is still a distant dream • Eicher Motors Ltd: Sell below ₹4,960 | Stop ₹5,070 | Target ₹4,770 As weakness continues to build for the last few sessions, the long body candle weakness on Tuesday sets the tone for the days ahead. The negative overhang is forcing us to reconsider the trends for the days ahead. A sell on every rise at the value resistance zone around 5,070 augurs well for the prices.

Now, poised at heading lower beyond the cluster lows, one can consider going short. Also read: For Zomato, chasing too much growth in q-commerce may be causing indigestion • Dr. Reddy's Laboratories Ltd: Sell below ₹1,285 | Stop ₹1,305 | Target ₹1,225 Dr.

Reddy's, a pharma major has been on the descent as the trends began losing its steam since the start of the year. As the prices are steadily making lower lows on Daily charts the trends indicate that the bearish momentum can persist. With the value support area around 1,300 being broken and the RSI showing no signs of a recovery, we can expect more downside in the coming days.