Stocks to buy: Raja Venkatraman's top picks for 15 December
Subscribe to enjoy similar stories. The RBI’s rate cut has generated strong buying interest at lower price levels, suggesting that the market trend is now turning positive. Although resistance remains at higher prices, the recent market decline has paused for now.
Buy above ₹581, stop ₹569 target ₹610 (Multiday) Buy above ₹4600, stop ₹4555 target ₹4670 (Intraday) Buy above ₹2030, stop ₹2005 target ₹2070 (Intraday) Between 8 and 12 December, the NSE experienced a volatile yet resilient performance, with contrasting movements across sessions. The week opened on a weak note as all major indices slipped into the red, dragged down by defence and PSU bank stocks, while metals stood out as the lone positive sector. InterGlobe Aviation, Asian Paints, BEL and Hindustan Unilever were among the top Nifty laggards, shedding between 3% and 10%, whereas Hindalco, Grasim, Tata Steel and Eternal managed notable gains.
Mid caps reflected similar divergence, with Bharat Dynamics, Coforge, Mazagon Dock and M&M Financial Services under pressure, while Hindustan Zinc, Vodafone Idea, Bandhan Bank and SRF advanced. Toward the latter part of the week, sentiment improved as the Nifty extended gains for two consecutive sessions, closing above 26,200. Market breadth favoured advances, midcaps outperformed, and except FMCG, all sectoral indices ended higher, led by strength in metals and realty, underscoring renewed investor confidence.
Sentiment is governed by where the main indices are. So it was not unusual to see the sentiment somewhat curbed by the lack of movement in the main indices. They were also hemmed in by not so positive feeds coming in from overseas markets.
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