Three stocks to buy today: Raja Venkatraman picks three stocks for trading on 24 February

livemint.com:

Subscribe to enjoy similar stories. Here are three stocks to buy or sell as recommended by Raja Venkatraman of NeoTrader on Monday, 24 February: • PGEL: Buy above: ₹830 | Stop: ₹855 | Target: ₹890-910 • GABRIEL: Buy above: ₹480 | Stop: ₹468 | Target: ₹515-530 • J&K BANK: Buy at: ₹101.50 | Stop: ₹99.50 | Target: ₹107-110 Nifty has been on a roller coaster ride. After its sharp collapse seen a few weeks ago, the benchmark index's attempt to rebound has been quite weak.

Last week, we mentioned that the markets were poised at an interesting stage. Ever since the start of the series the broader indices showed a willingness to rebound. But a steady failure at moving higher in the February series has spoilt the sentiment.

The Reserve Bank of India did not offer much rope in its recent policy by introducing a rate cut that was already anticipated. Hence, the market would now move on to triggers emanating from the macro numbers. Auto sales have not been encouraging.

With the other numbers also disappointing the markets, we may end up having a bearish closing to this expiry in a few days. Bank Nifty too has displayed a lack of upward traction, generating widespread disappointment. The market has been largely volatile also as participants were getting mixed signals about the government's initiative to improve the fiscal deficit.

Last week, we were looking for a rally to emerge. Since the fall has been widespread, it is quite possible that many stocks may also participate in a rally, if any. However, limited reactions seen in the last few days have poured cold water, and the failure of the Nifty to close beyond 23,000 points has triggered some panic.