Shares to buy or sell: Sachin Gupta of 5paisa recommends buying NALCO, Bajaj Finance today – 21 January | Stock Market News

Stock market today: The domestic benchmark indices, Sensex and Nifty 50, continued to rise as trading began on Tuesday with the start of Trump 2.0, witnessing increases during the initial session.

The Nifty 50 index started at 23,421.65, climbing by 76.90 points or 0.33%, whereas the Sensex increased by 188.28 points or 0.24% to begin at 77,261.72.

Experts indicated that with the onset of Trump 2.0, numerous executive actions are anticipated in critical areas such as tariffs, immigration, tax reductions, deregulation, DOGE, and energy security.

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, remarked that the second term of Trump has begun with uncertainty regarding his potential economic policies. In his inaugural speech, he was explicit on immigration but appeared ambiguous regarding tariffs.

The suggestion of a possible 25% tariff on Canada and Mexico indicates that the tariff increase strategy will unfold gradually. The foreign exchange market has responded with a drop in the dollar index to 108.43, while the yield on 10-year bonds has decreased to 4.54%. This exemplifies the notion of ‘buy on rumors and sell on news.’

Market Review and Outlook – Sachin Gupta, Senior Research Analyst at 5paisa

Nifty 50 started a week on a positive note and continued the momentum for the day, driven by strong gains in Kotak Mahindra Bank (+9.2%) and Wipro (+6.5%). Both stocks surged after strong earnings. On the other hand, SBI Life Insurance corrected 2.8% after weak earnings. Today’s Advance Decline ratio was marginally positive at 1.3, reflecting a reasonably broad-based strength in the market.

Supported by earnings, Nifty 50 has shown signs of consolidation at 23,250. However, RSI has come off its recent low. Also, the fall in INR continues to be a worry. Traders should continue to be cautious before building long positions aggressively. Near term support and resistance levels are 23,200/23,080 and 23,450/23,700.

Shares to buy or sell today on Tuesday- Sachin Gupta

On shares to buy or sell on Tuesday, Sachin Gupta recommends National Aluminium Company Ltd (NALCO), and Bajaj Finance Ltd.

NALCO

On the daily scale, the stock has reversed up from the support of Rising Trendline & 200-days Exponential Moving Averages that indicates bullish strength for the medium term. A positive crossover in RSI & higher volume activities also supports the momentum. Additionally, on a weekly chart the price has pulled up from the 50-weeks SMA with bullish candlestick.

SO based on the above technical structure, we are suggesting buy in NALCO around 209 with a stop loss of 199 for the upside target of 220 & 225 levels.

Bajaj Finance

The stock has confirmed a bullish flag pattern breakout on the daily chart, indicating further upward momentum in the near term. The price has also found support around the 21-day EMA and has moved above the previous swing highs. Additionally, both the MACD and RSI have shown positive crossovers, which further support the bullish trend.

Based on this structure, we expect continued upward movement in Bajaj Finance over the short to medium term. Therefore, traders are advised to buy around the 7,400 level, targeting an upside of 7,850, with a strict stop loss at 7,090.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.