Five stocks to buy and sell today — 22 January

Five stocks to buy and sell on 22 January, as recommended by market analysts. Image: Pixabay
Five stocks to buy and sell on 22 January, as recommended by market analysts. Image: Pixabay

Summary

  • Here's a list of buy/sell recommendations for today from two analysts: Raja Venkatraman and MarketSmith India.

Three stocks to buy, recommended by NeoTrader’s Raja Venkatraman

• Datamatics Global Services Ltd: Buy at 665 | Stop 648 | Target 705

IT sector is going through some profit booking scenario while some select names have been able to revive, and the recent rally witnessed some sharp sell-off, and the inability of the price to hold on in the recent reaction indicates that the trends are showing some signs of buying interest. With a potential for more upside one can consider going long.

Also read: Why Tech Mahindra’s turnaround is still a distant dream

• Eicher Motors Ltd: Sell below 4,960 | Stop 5,070 | Target 4,770

As weakness continues to build for the last few sessions, the long body candle weakness on Tuesday sets the tone for the days ahead. The negative overhang is forcing us to reconsider the trends for the days ahead. A sell on every rise at the value resistance zone around 5,070 augurs well for the prices. Now, poised at heading lower beyond the cluster lows, one can consider going short.

Also read: For Zomato, chasing too much growth in q-commerce may be causing indigestion

• Dr. Reddy's Laboratories Ltd: Sell below 1,285 | Stop 1,305 | Target 1,225

Dr. Reddy's, a pharma major has been on the descent as the trends began losing its steam since the start of the year. As the prices are steadily making lower lows on Daily charts the trends indicate that the bearish momentum can persist. With the value support area around 1,300 being broken and the RSI showing no signs of a recovery, we can expect more downside in the coming days.

Two stocks to buy, recommended by MarketSmith India:

  • Marico Ltd: Current market price 666.40 | Buy range 646–670 | Profit goal 800 | Stop loss 612 | Timeframe 2–3 months
  • Tata Consumer Products Ltd: Current market price 972.10 | Buy range 960–975 | Profit goal 1,050 | Stop loss 925 | Timeframe 2–4 weeks

Also read: Metro Brands had a decent Q3 but remains in the slow growth lane

Raja Venkatraman is co-founder, NeoTrader.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.

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