Stocks to buy: Raja Venkatraman recommends top picks for 19 January
Subscribe to enjoy similar stories. On Friday the Indian stock market struggled to maintain its early gains, ending the session with only marginal growth. While indices like theSensex (up 0.23%) andNifty 50 (up 0.11%) closed in the green, they retreated sharply from their intraday highs as investors turned cautious.
Buy above ₹1675, stop ₹1625, target ₹1798 (Multiday) Buy above ₹150.50, stop ₹146, target ₹161 (Multiday) Buy above ₹133, stop ₹128, target ₹143 (Multiday) Nifty Bank showed resilience on Friday, maintaining underlying bullish momentum despite a complex market scenario. However, bullish tendencies are currently limited by a broader cautious trend that has recently rewarded sellers. Choppy conditions are expected as the market seeks stability next week.
Equity benchmarks Sensex and Nifty experienced volatile trade, surrendering some intraday gains after briefly reclaiming key psychological milestones. The Sensex, which surged past 84,000 earlier in the day on the back of strong Infosys Q3 results, slipped 550 points from its peak and closed 187 points lower at 83,570.35, down 0.23%. The Nifty, after touching 25,850, ended at 25,694.35, up 28.75 points or 0.11%.
Market breadth was weak, with 1,770 shares advancing, 2,111 declining, and 132 unchanged. Cipla, Eternal, and Sun Pharma were among the top losers on the Nifty 50 index. Profit booking was evident across sectors, including Bank Nifty, which fell below the 60,000 level after reclaiming it for the first time in four days.
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