Stocks to buy: Ankush Bajaj recommends three stocks for today—26 December

Ankush Bajaj  recommends three stocks for 26 December.
Ankush Bajaj recommends three stocks for 26 December.

Summary

  • Here are three stocks to buy as recommended by research analyst Ankush Bajaj for Thursday, 26 December.

Nifty and Bank Nifty on 24 December: The Indian stock market was almost flat on Tuesday, 24 December, with both major indices closing marginally in the red. The Nifty 50 closed 25 points or 0.11% lower at 23,727.65, while the Bank Nifty fell 0.14%, dragged down by the IT and metal sectors.

Trading volumes were low, possibly due to the New Year holiday week, during which many foreign companies are on vacation. After a selloff in various sectors such as auto, there was some buying on Tuesday, and the auto index closed at 22685.55, up 127.80 points. The IT sector underperformed due to weak earnings guidance, while the auto sector gained on optimism about improving sales and festive demand.

Also read | IRCTC stock: Why a monopoly business cannot be a ‘Buy’ at any price

The top losers on the Nifty were Powergrid (-1.65%),JSWSteel (-1.62%), SBI Life (-1.30%), Titan (-1.28%), and SBIN (-1.11%). The top gainers were TataMotors (+1.92%), Adanient (1.43%), and BPCL (1%).

Source: TradingView
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Source: TradingView

Indian stock market outlook

TheNifty closed above 23,500 and took support from the200-DMA at 23,727.65. With the monthly expiry nearing, options data showed strong support at 23,500 (maximum OI at 23,500 PE) and resistance at 24,000 (maximum OI at 24,000 CE), indicating a likely range-bound session.

Three stocks to buy, recommended by Ankush Bajaj

TRIVENI: Buy at 494; target 550-575; stop loss 445

Triveni is supported by strong demand in the sugar sector, driven by ethanol blending policies. The stock has found strong support at 460 and is currently one of the strongest contenders in the sugar sector. Technically, it appears well-positioned, and a move toward its lifetime high is anticipated in the coming days.

Also read: JSW Infra is in good stead on rising third-party mix, capex

TVSMOTOR: Buy at 2,427; target 2,490-2,520; stop loss 2,370

The stock has created a good base at the current level and is showing strong support at 2,385. If the market continues its upside momentum, we may witness a significant pullback in this stock.

LLOYDSME: Buy at 1190; Target 1235-1255; Stop Loss 1155

The stock looks strong technically, having closed above its recent high of 1,180. It may continue to rally in the coming days.

Also read: Polycab India is wired for growth and the stock reflects it

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.

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