Stocks to buy & sell: Raja Venkatraman recommends three stocks for today — 13 January

livemint.com:

Subscribe to enjoy similar stories. On 10 January, bearish sentiments continued to dominate the market, leading to increased negative bias. The current market conditions favour a bearish stance, and traders should consider using temporary market recoveries as opportunities to short the index.

Although Asian markets were weak, benchmark indices initially opened higher. However, they quickly lost all their gains within the first hour, fluctuating between gains and losses for the rest of the session, ultimately ending the day in negative territory. We have been mentioning immediate supports that were emerging at 24500, when the trends were tested once again.

The breach of these levels has now attracted bearish sentiment, and this situation could escalate as the expectation of a muted Q3 is now taking centre stage. While the rupee weakens, the global market sentiment is prompting more sell-off across the board. There are still several days to go before the Nifty hits its time targets, and therefore, the current support zone remains tentative.

Sell-on rallies continue to be the main mantra for the day. Bank Nifty will remain the weaker index as we head into next week. Also Read: Cut through the market noise: Where investors should focus in 2025 There is a widespread panic and every rally now will pose itself a selling opportunity.

As the trends remain under pressure, we are entering the next week with some pessimism that may continue in the next few days. The option data reveals that 23500 is now turning into a resistance zone with little room till the rally zone around the max pain now at 23700, proving to be an important tipping point in the coming sessions. The put-call ratio, too, is at 0.72, which indicates that trends