
Stocks to buy: Ankush Bajaj recommends three stocks for today—13 January

Summary
- Here are three stocks to buy as recommended by research analyst Ankush Bajaj for 13 January
Nifty and Bank Nifty analysis
On Friday, the market opened flat at 23,551.90, and with high volumes, it fell by 222 points to the intra-day low of 23,344.35. However, after coming close to 23,350, the market showed strength and rose 240 points to intra-day high of 23,596.60. The market could not sustain at that level and closed at 23437.35. with the Nifty media (-3.59%), Nifty Realty (-2.77%), and the Nifty PSU Bank index (-2.72%) dragging the market down. The Nifty 50 index closed at 23,431.50, while the BSE Sensex declined by -0.31%, closing at 77,378.91.

The Nifty IT closed in green.
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The top performers in Nifty 50 stocks were Tata Consultancy Services (+5.62%), Tech Mahindra (+3.82) and HCL Technologies (+3.12%).
On the other hand, the top losers in the market were Indusind Bank (-4.41%), Adani Enterprises (-4.18%), NTPC (-3.78%), and Bharat Electronics (-13.64%).
Indian stock market’s outlook
On the daily chart, the Nifty is trading below its 20-day moving average (DMA) at 23,888 and 40-day exponential moving average (DEMA) at 24,033, indicating weakness. The momentum indicator shows a negative crossover, further confirming bearish sentiment.
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On the hourly chart, the Nifty is trading below its 20-hour moving average (HMA) at 23,548 and 40-hour exponential moving average (HEMA) at 23,636. However, the momentum indicator has a positive crossover, signalling a possible short-term recovery.
Market breadth remains negative, with 554 stocks advancing and 2,289 stocks declining on the National Stock Exchange.


The Bank Nifty is trading below its 200-Day Simple Moving Average at 50,723.50. In the Bank Nifty, we saw a decline of -4.55% this week.
If we analyze the VWAP for the past year (from 1 January 2024 to today), the Bank Nifty has closed below 48,991, which clearly indicates a weak structure on the charts. In summary, if the Bank Nifty trades below the 49,500 level next week, we may witness a sharp decline of 2,000-3,000 points in the coming days.

Three stocks to buy, recommended by Ankush Bajaj:
Tata Consultancy Services: Buy at ₹4,265; Target: ₹4,350-4,370; Stop loss: 4,202.
After a strong performance, the stock rallied by nearly 5.6% and successfully closed above the critical level of ₹4,205. A further move of 150-200 points is anticipated from the current levels.
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Marico: Buy at ₹673.90; Target: ₹695-705; Stop loss: ₹660.
FMCG has outperformed the markets and hourly chart, we can see a bullish divergence on this stock, expecting this rally to continue for a few days .
SRF: Buy at ₹2,602; Target: ₹2,800; Stop loss: ₹2,480.
US gas distributors announced a price hike for refrigerant gases. iGas USA said the supply of R32 and R125 has been impacted, and prices will be increased by up to 200%.
The stock rallied 10% and is expected to make a new lifetime high in the coming days.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
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.