Stocks to buy: Two stock recommendations from MarketSmith India for 3 January
Live MintNifty50 reclaimed 24,150 on the weekly F&O expiry sessions and gained around 446 points on Thursday. The 14-day relative strength index is trending upward, positioned around 52 on the daily chart, while the moving average convergence/divergence indicator is on the verge of a positive crossover. According to O'Neil's methodology of market direction, Nifty staged a follow-through day as it advanced more than 1.5% on higher volume than the previous day. A distribution day occurs when the benchmark index or a major sectoral index declines 0.2% or more on higher volume than the previous day. Stocks to buy, recommended by MarketSmith India: Bajaj Finance Ltd: Current market price ₹ 7,389.20 | Buy range ₹ 7,200–7,400 | Profit goal ₹ 8,200 | Stop loss ₹ 6,780| Timeframe 2–3 months 7,389.20 | Buy range 7,200–7,400 | Profit goal 8,200 | Stop loss 6,780| Timeframe 2–3 months Trent Ltd: Current market price ₹ 7,321 | Buy range ₹ 7,150–7,350 | Profit goal ₹ 8,290 | Stop loss ₹ 6,800 | Timeframe 2–3 months Disclaimer: The views and recommendations given in this article are those of individual analysts.