 "Nifty outlook indecisive, says Vinay Rajani; picks 2 stocks to buy today")
Nifty Today
The Nifty took a pause in its fall by recovering 92 points or 0.39 per cent, to close at 23,707, on Tuesday. After early morning volatility, Nifty index consolidated in a narrow range throughout the day and oscillated within Monday's price move. Trend of the Index remains indecisive. Support for the index is seen at 23,460, while resistance for the same is seen at 23,800.
Stocks to Buy Today, January 8, 2025:
Buy Narayana Hrudayalaya | CMP: Rs 1,353 | Target: Rs 1,425 | Stop-loss: Rs 1,320
The stock price has broken out from a multi-week consolidation with rising volumes. Narayana Hrudalaya share price is placed above all important moving averages, which indicates a bullish trend on all time frames. Indicators and oscillators have turned bullish on daily and weekly time frame.
Buy Pfizer | CMP: Rs 5,350 | Target: Rs 5,940 | Stop-loss: Rs 4,900
The stock is on the verge of breaking out from the "flag" pattern on the daily chart. Pfizer share price has been rising with the rise in volumes. The stock is placed above all important moving averages, indicating bullish trend on all time frames. Pfizer share has recently found support on 20-DEMA and resumed uptrend. Indicators and oscillators have turned bullish on the daily charts.
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Disclaimer: Vinay Rajani is CMT, senior technical and derivative analyst at HDFC securities. Views expressed are this own.