Stocks to buy: Two stock recommendations from MarketSmith India for 14 January
Live MintNifty50 closed lower for the fourth consecutive session at 23,085.95. From a technical perspective, Nifty breached its key support level, i.e., an upward-sloping trendline connecting the low of November 2021 to that of December 2024, last Friday. The 14-day relative strength index is trending downward, positioned around 32 on the daily chart, while the moving average convergence/divergence indicator remains negative. Based on O'Neil's methodology of market direction, we changed the market status to ‘downtrend’ yesterday as Nifty breached its recent low of 23,263, a key support level. Stocks to buy, recommended by MarketSmith India Reliance Industries Ltd.: Current market price ₹ 1,239.85 | Buy range ₹ 1,230–1,250 | Profit goal ₹ 1,400 | Stop loss ₹ 1,192 | Timeframe 1–2 months Current market price 1,239.85 | Buy range 1,230–1,250 | Profit goal 1,400 | Stop loss 1,192 | Timeframe 1–2 months Marico: Current market price ₹ 668.40 | Buy range ₹ 646–670 | Profit goal ₹ 800 | Stop loss ₹ 612 | Timeframe 3–4 months Disclaimer: The views and recommendations given in this article are those of individual analysts.