Stocks to buy: Raja Venkatraman recommends three stocks for today — 27 January

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Subscribe to enjoy similar stories. On 23 January, the trends remained choppy but the bulls finally survived the onslaught of the bears. However, the absence of continued trends has made everyone suspect the sustenance of the uptrends as the 23,000 base struggles to hold.

Markets continued to breathe the air of uncertainty as there were no clear signals visible from either the global or domestic cues. As a result, we are now in the dark about the outcome of the trends in the coming week. We are beginning the week with prospects of witnessing a highly volatile week.

As this week in the markets draws to a close, investors face a scene reminiscent of the turbulence experienced three months ago. The Sensex has tumbled by 304.89 points, settling at 76,215.49, while the Nifty slipped past the 23,100 threshold, ending at 23,092.20, down 113.15 points. The midcap index saw a steep fall, shedding 836 points to close at 53,263.

The Bank Nifty has been weaker in comparison and has seen sustained bearish pressure on every rally, indicating that trends are inclined to head higher. HDFC Bank came out with decent numbers but could not impact the market condition as discussed last week the trends were expected to head into the upper end of the cloud as the indicators were tiring out. The rise witnessed in the Bank Nifty has suddenly taken a U-turn and is trading lower and the supply has emerged towards the end of the week.

However, due to the lack of triggers, we are witnessing a ranging action that could stretch to the expiry. Today, we will take a look at the Bank Nifty, where more bearishness can seep in once 48,000 is given away, till then bulls will attempt to rebound. The Bank Nifty is a sector that could be avoided for the