Copyright © HT Digital Streams Limited All rights reserved. Raja Venkatraman, co-founder, NeoTrader, recommends three stocks for December 22. Summary Market expert Raja Venkatraman shares his top three stock picks to buy today, December 22. Discover his exclusive picks and analysis to inform your investment strategy. Indian Stock Markets: Bear forces have been unrelenting and the trends are unable to stage any recovery despite best intentions. With the trends still being challenged, the road ahead is fraught with uncertainty. Looking for some encouraging triggers. Three stocks to buy or sell as recommended by Raja Venkatraman of NeoTrader: PAYTM: Buy above ₹1340, stop ₹1300 target ₹1440 (multi-day) GLENMARK: Buy above ₹1995, stop ₹1970 target ₹2040 BH 1.40 hours above: Buy within ₹1995 stop ₹1420 target ₹1471 (intraday) Stock market summary Indian stock markets have a strong recovery on December 19 after three consecutive sessions of decline, driven by supportive global cues and domestic strength. The Sensex jumped nearly 600 points to an intraday high of 85,067, while the Nifty 50 reclaimed 25,993 on the upside. Finally, the Sensex closed 448 points, or 0.53%, higher at 84,929.36, while the Nifty 50 closed at 25,966.40, up 151 points or 0.58%. Gains were broad-based as the BSE Midcap and Smallcap indices rose more than a percent each. The BSE Midcap index gained 1.26% while the Smallcap index gained 1.25%. The rally was supported by cooling US inflation data, which showed consumer prices rose 2.7% year-on-year in November, down from 3% in September. This moderation revived expectations of further interest rate cuts by the US Federal Reserve, boosting investor sentiment worldwide. A stronger rupee also added to the optimism, supporting foreign inflows. However, analysts warned that the inflation data may have been distorted by the recent government shutdown, and urged investors to interpret the figures with caution. Trading Outlook In our previous issue, we mentioned that the bullish movements in Nifty still indicate a possibility of further advance. There were bouts of hesitation seen and the confluence of resistance unnerved even the best of minds. The build up to the geopolitical events did weaken the resolve to let the markets fall as we saw big profit taking ahead of the event. The rate hike by Japan and the continued selling by FII led to the trends being closely scrutinized. However, with the strong close seen on Friday, bulls have come back into the frame of mind. They could not stamp their authority until Friday. Mid and Small Caps thrived right through the week as the focus on Futures remained muted. On the overseas front, the stimulus initiative undertaken by the Federal Reserve is dealing with the tepid growth in the United States and does not foresee an increase in interest rates for the near term. So we shouldn’t see much volatility in the currency for this month. With no event triggers to influence the global outlook, we must look inward for some clues to give direction to the trend. Post the RBI policy where the governor offered a rate cut, nothing moved except in the metal space. With the global markets in a pensive stage, there must be a stronger reason for him to initiate that move. An eventful week is likely to limit the strong bullish undercurrent seen in the markets today. While it is a given that we should stay on the positive side, it would be best to discuss gains as we see them. The hourly charts of Nifty show that the rally seen since Thursday has seen a strong surge in the latter half of the day into the medina line which has played quite well as a support and resistance line producing a strong set of recovery. Hence, a long can be initiated in Nifty if it moves above 26050 on Monday or on dips near 25900. The stop loss on this trade could be below 25800 for a rise to 26200. View full image (TradingView) Three stocks to trade recommended by NeoTrader’s Raja Venkatraman PAY ₹3 price PAY 3. it is recommended: Paytm (One97 Communications Ltd) is India’s leading digital payments and financial technology company, offering services such as mobile payments (UPI, QR codes, Soundbox), bill payments, e-commerce, travel booking and financial products (loans, insurance, wealth management) for consumers and merchants. This stock is consolidating for a while until Friday the strong and robust volume that emerged helped the rally. With the prices climbing higher and the revival of momentum again we can look at the possibility of more upside. View to buy. Key Metrics: 52-week high: ₹1,381.75, volume: 7.31 million. Technical Analysis: Support at ₹1250, resistance at ₹1500. Risk factors: Regulatory scrutiny and operational challenges for financial sustainability and market competition. Buy: Above ₹1340. Stop loss: ₹ 1,300. Target price: ₹ 1,440 (2 months) GLENMARK (current market price ₹ 2,646.70) Why it is recommended: Glenmark Pharmaceuticals Ltd heavy on dermatology, respiratory and oncology. After a sharp decline, the prices have reached a strong set of valuation support and are seen to be recovering again. Also, the RSI is seen moving higher with prices going out of the cloud on the daily charts, highlighting that there is a strong possibility of moving higher. Key Metrics: P/E: 368.15, 52-Week High: ₹2286.15, Volume: 527.85K. Technical Analysis: Support at ₹1920, resistance at ₹2100. Risk Factors: Intense generic competition and pricing pressure, significant USFDA regulatory risks (plant warnings/warnings), challenges in its new drug R&D pipeline (high costs/uncertainty), financial risks such as debt and working capital management, evolving landscapes in India (commercial generics). Buy: above R1995. Stop loss: ₹1970. get price: ₹ 2040 BHARAT FORGE (current market price ₹ 1,439.90) Why it is recommended: Bharat Forge Ltd (BFL) is a global engineering leader specializing in high performance, safety critical components for automotive, aerospace, defense, railways, marine and energy sectors itself as a key player in India as an industrial growth player. A strong long-bodied bullish candle seen on Friday fueled some strong bullish sentiments. With the RSI taking support at the neutral zone and rising, we can look at possibility of more upside in the coming days. A dip in the cloud region and a rebound bodes well for a revival. Consider going long. Key Metrics: P/E: 51.36, 52 Week High: ₹1460.70, Volume: 503.96K. Technical Analysis: Support at ₹1390, resistance at ₹1550. Risk factors: Slow global auto market recovery, slow defense and EV segment scale and geopolitical and macroeconomic factors. Buy: above R1441. Stop Loss: ₹ 1420. Target Price: ₹ 1471. Raja Venkatraman is Co-Founder, NeoTrader. Its Sebi registered research analyst registration no. is INH000016223. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provides any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. It does not represent the views of Munt. We advise investors to check with certified experts before making any investment decisions. Get all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download the Mint News app to get daily market updates. more topics #markets premium # stocks to buy # stock recommendations # stock recommendation # Stock Markets Read next story