Stocks to buy: Raja Venkatraman recommends three stocks for today—12 December
Subscribe to enjoy similar stories. On Wednesday, 11 December, the market faced significant challenges after nearing the 25,000 mark. Global factors, particularly the aftermath of the US elections, dampened bullish sentiment, triggering a pullback.
While broader indices attempted a recovery from lower levels, volatility returned, with supply pressure dragging them down. Read this | Motilal Oswal offers zero-expense for first year on new arbitrage fund However, Bank Nifty showed greater resilience compared to Nifty, reacting less sharply. The market's jittery behaviour highlights the fleeting nature of bullish trends as they continue to grapple with persistent uncertainty.
Nifty's recent revival around the challenging Fibonacci resistance at 24,840 on the daily chart has forced the bullish camp to reassess its strategy. As the tussle between bulls and bears intensifies, the likelihood of markets turning lower has gained traction. The pullback into the highlighted follow-through area, coupled with trendline support, signals a pivotal phase for Nifty.
Read this | Your 2025 guide to buying momentum stocks Current trends show some buying interest, suggesting the market may be entering a critical juncture. Support levels have now shifted to approximately 24,600, making it a potential zone for "buy-on-dips" strategies to emerge. Meanwhile, the Put-Call Ratio (PCR) stands at 0.71 for Nifty and 0.88 for Bank Nifty, reflecting a cautious stance among bulls.
The market appears to be entering a testing phase, where resilience and strategy will be key. • TITAGARH: Buy at ₹1313, stop ₹1285, target ₹1385 PSU stocks have staged a broad rebound, with railway stocks also showing signs of recovery. The strong upward momentum in the last
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