Stocks to buy: Two stock recommendations from MarketSmith India for 1 January
Live MintNifty50 ended flat on the last day of 2024, a year in which Indian equity markets experienced a roller-coaster ride and gained more than 8.75%. The momentum indicator, 14-day relative strength index, is trending in the flat zone with a negative bias and is placed around 37 on the daily chart, along with a negative crossover on moving average convergence/divergence. Conversely, the index faces significant resistance near 23,900, and a decisive breakout above this level could drive it toward 24,200 in the coming days. Immediate resistance is positioned in the range of 51,700–52,000, while strong support is placed around 50,500–50,400, as the 200-DMA is placed in this particular price range. Stocks to buy, recommended by MarketSmith India: Apar Industries: Current market price ₹ 10,317.60 | Buy range ₹ 9,700–10,500 | Profit goal ₹ 12,400 | Stop loss ₹ 9,480 | Timeframe 2–3 months Current market price 10,317.60 | Buy range 9,700–10,500 | Profit goal 12,400 | Stop loss 9,480 | Timeframe 2–3 months Granules India: Current market price ₹ 592.30 | Buy range ₹ 580–600 | Profit goal ₹ 675 | Stop loss ₹ 557 | Timeframe 2–-3 months Disclaimer: Views and recommendations in this article are those of individual analysts.