
Stocks to buy & sell: Raja Venkatraman recommends three stocks for today — 13 January

Summary
- Here are three stocks to buy as recommended by Raja Venkatraman of NeoTrader for Monday, 13 January.
Nifty 50 on 10 January: Recap
On 10 January, bearish sentiments continued to dominate the market, leading to increased negative bias. The current market conditions favour a bearish stance, and traders should consider using temporary market recoveries as opportunities to short the index. Although Asian markets were weak, benchmark indices initially opened higher. However, they quickly lost all their gains within the first hour, fluctuating between gains and losses for the rest of the session, ultimately ending the day in negative territory.
Indian stock markets: Way forward
We have been mentioning immediate supports that were emerging at 24500, when the trends were tested once again. The breach of these levels has now attracted bearish sentiment, and this situation could escalate as the expectation of a muted Q3 is now taking centre stage. While the rupee weakens, the global market sentiment is prompting more sell-off across the board. There are still several days to go before the Nifty hits its time targets, and therefore, the current support zone remains tentative. Sell-on rallies continue to be the main mantra for the day. Bank Nifty will remain the weaker index as we head into next week.
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There is a widespread panic and every rally now will pose itself a selling opportunity. As the trends remain under pressure, we are entering the next week with some pessimism that may continue in the next few days. The option data reveals that 23500 is now turning into a resistance zone with little room till the rally zone around the max pain now at 23700, proving to be an important tipping point in the coming sessions. The put-call ratio, too, is at 0.72, which indicates that trends may be nearing oversold status. Despite aggressive selling, the breach of support has only intensified the decline.

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Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
• Gufic BioSciences: Buy above ₹470, stop ₹452, target ₹498
After a sharp decline, the revival from the cloud support region highlights demand once again post a profit booking. As trends are showing signs of an upward bound from supports, the potential for moving higher emerges, so look to buy into this market. One can look to participate as trends have turned positive once again. Consider a buy.
• HCL Tech: Buy above ₹1,995, stop ₹1,970, target ₹2,035
This IT counter, after a long period of consolidation, showed some promise as the trends began to gather steam and tread higher, indicating a steady resolve as it held higher levels. On Friday the strong surge is indicating that the trends may persist. Also, with the RSI showing a new resolve one can look to buy now.

• Kalyan Jewellers India: Sell ₹625, stop ₹635 target ₹610
After the news was flashed about the revision in the gold import announced in November 2024 , the trends in the associated stocks have been on the decline. The sharp selloff that we are noticing in this counter is triggering some steady decline possible in the next few days. The sharp rise in volume in the last few days. Currently, the momentum is gaining traction to tread lower in the coming sessions.
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.
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