Here are three stocks to buy or sell as recommended by Raja Venkatraman of NeoTrader for Tuesday, 23 December.

Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:

INDIANB (Cmp ₹787.90)

INDIANB: Buy above ₹790, stop ₹765 target ₹845 (Multiday)

• Why it’s recommended: Indian Bank Ltd, trading as INDIANB, is a major public sector bank owned by the Government of India, following the amalgamation with Allahabad Bank in 2020. This stock after some sharp declines has dipped into the lower end of the Kumo region and has been consolidating for a while. A revival seen on Monday with robust volumes that emerged is producing a recovery. With the prices climbing higher and revival of momentum once again we can look at possibility of more upside. Look to buy.
• Key metrics:
  • P/E Ratio : 8.98
  • 52-week high: ₹898.60,
  • Volume: 620.85K.
• Technical analysis: Support at ₹760, resistance at ₹880.
• Risk factors: Regulatory scrutiny and operational challenges to financial sustainability and market competition.
• Buy: above ₹790.
• Stop loss: ₹765.
• Target price: ₹845(2 Months)

BPCL (Cmp ₹369.90)

BPCL: Buy above ₹371, stop ₹365 target ₹379 (Intraday)

• Why it’s recommended: Bharat Petroleum Corporation Limited (BPCL) is a major Indian government-owned energy company, focused on refining crude oil and marketing petroleum products, aiming to be a global energy leader while energizing lives in India. The last one week has been quite volatile and the incessant selling pressure could not fuel the further upmove. An encouraging move towards the close of the day and with assistance from RSI could influence the prices to move higher. on the daily charts highlight that there is a strong possibility to move higher.
• Key metrics:
  • P/E: 7.86,
  • 52-week high: ₹381.60,
  • Volume: 785.41K.
• Technical analysis: Support at ₹366, resistance at ₹385.
• Risk factors: Volatility of global crude oil prices and the regulatory environment.
• Buy : above ₹371.
• Stop loss: ₹365.
• Target price: ₹379.

AIAENG (Cmp ₹3919.90)

AIENG: Buy above ₹3930, stop ₹3850 target ₹4055 (Intraday)

• Why it’s recommended: AIA Engineering Ltd. (AIAENG) is a leading Indian company, based in Ahmedabad, specializing in designing, manufacturing, and servicing high-chromium wear-resistant castings, particularly for grinding media and mill liners used in cement, mining, quarry, and power industries. A strong, long-bodied bullish candle seen on Friday has ignited some strong bullish sentiments. With the RSI taking support at the neutral zone and rising we can look at possibility of more upside in the coming days. A dip into the cloud region and a rebound augurs well for a revival. Consider going long.
• Key metrics:
  • P/E: 34.20,
  • 52-week high: ₹3919.45,
  • Volume: 76.90K.
• Technical analysis: Support at ₹3790, resistance at ₹4100.
• Risk factors: Volatility in the mining market, fluctuations in raw material prices and foreign exchange rates, and potential impacts.
• Buy : above ₹3930.
• Stop loss: ₹3850.
• Target price: ₹4055.

Stock Market Recap

The Nifty hovered near the 26,000 mark, reflecting a cautious yet positive undertone in the market. Indian equities began the Christmas week on a steady note, with the Nifty 50 trading close to 26,000 after recovering from a four-day losing streak in the prior session.

The Sensex held firm above 84,900, supported by improved global cues, softer US inflation data, and renewed buying interest from foreign investors. Broader markets continued to outperform, with the Nifty Midcap index advancing 1.2 percent and the Smallcap index gaining 1.34 percent, signalling strong participation beyond the frontline stocks.

Sectoral momentum was broad-based, led by auto, realty, healthcare, and chemical counters, while IT and metals also contributed to the uptrend. Analysts noted that the index is likely to remain range-bound between 25,700 and 26,300, with investors adopting a buy-on-dips strategy. Overall, the session highlighted resilience in Indian markets, aided by supportive global trends and persistent domestic inflows.

Outlook for Trading

Strong upward charge clearly stamped some authority of the bulls as they paved the way for the upward traction to continue. As the trends remain uncertain, we are now examining how the market will behave across allsegments. The current way of working remains challenging, and hence, the way forward will be fraught with uncertainty. Let us look at how the trends are going to remain challenging

We had discussed that there is a possibility of the Nifty to scale higher and also the trade “ The stop loss on this trade could be below 25800 for a rise towards 26200.” worked in our favour. Currently we are having a strong gap up opening for the week that has sustained and shown some strong upward trajectory. As trends are clearly dependent on the global cues we will continue to experience some restricted action and the gaps in every decline will remain a buying opportunity.

The option data clearly highlights with a PCR comfortably above 1 , post a strong upward thrust could result in the Nifty having difficulty at higher levels. Any pullback seen near the gap region should be used to buy into as the overall market remains positive.

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

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 guarantees 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.