
Stocks to buy: Raja Venkatraman recommends three stocks for today — 15 January

Summary
- Here are three stocks to buy as recommended by Raja Venkatraman of NeoTrader for Wednesday, 15 January.
Nifty 50 on 14 January: Market recap
Domestic markets showed signs of revival on Tuesday, 14 January, aided by positive global cues. Reports indicated that the Donald Trump administration might implement phased tariff hikes instead of a sharp, one-time increase, alleviating inflationary concerns. The reduced currency impact also contributed to cooling prices, with a decline in the dollar index strengthening the rupee—offering relief to import-reliant sectors.
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Additionally, as markets approached oversold levels, renewed buying interest helped temper the broader decline.
Indian stock markets: Way forward
The Nifty 50 is showing signs of a rebound after testing key support levels near 23,100. The ongoing uptrend could challenge immediate resistance around 23,500 on the daily charts. A move above this level may compel bears to reassess their stance.
However, with both bulls and bears vying for dominance, the possibility of a market downturn still lingers. The pullback aligns with trendline support, marking a critical juncture for the index.
Revised support levels around 24,600 now warrant attention, with potential buy-on-dip opportunities emerging near this zone. The Put-Call Ratio (PCR) has edged above 1 for Nifty and 0.80 for Bank Nifty, signalling a cautious approach from the bullish camp. Amid ongoing uncertainty, a careful and measured approach is essential as we navigate the road ahead.

Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
• Deccan Cements: Buy ₹ 708, stop ₹693, target ₹740
After a sharp rise in Deccan Cements' shares earlier this year, profit booking amid a broader market downturn pulled prices toward a key support level near the KS line, setting the stage for a potential recovery. The long-bodied candle observed on Tuesday indicates improved chances of a price rebound. With current trends showing signs of an upward bounce from support levels, the potential for further gains appears strong. Investors may consider buying into this market as the outlook remains positive.
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• Biocon Ltd: Buy ₹ 389, stop ₹380, target ₹410
This pharma counter has being holding on despite the market volatility. The constant rebound from lower levels highlight the possibility of more rise in store. With the trends showing a positive response to a brokerage upgrade can result in demand increasing for the counter. With the surge moving above value resistance around 380 we can look at more upside in the next few days.

• Lloyds Metal: Buy above ₹1,420, stop ₹1,385, target ₹1,490
After a prolonged period of consolidation, the stock is showing renewed buying interest emerging from lower levels. Over the past few weeks, this momentum led to significant gains, followed by profit booking as the trend softened and prices tested the TS line. The recent pullback has also brought the RSI into a recovery mode, indicating signs of revival and potential for renewed upward movement.
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Raja Venkatraman is co-founder, NeoTrader.
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.