The benchmark Indian stock market indices crashed during the trading session on Tuesda, 20 January 2026, over weak global cues amid the raging trade war due to US President Donald Trump's tariff threats on European nations and unimpressive domestic Q3 results 2026.
The Nifty 50 index closed 1.38% lower at 25,232.50 points after Tuesday's market session, compared to 25,585.50 points at the previous market close. The BSE Sensex index closed 1.28% lower at 82,180.47 points, compared to 83,246.18 points at the previous market close, according to the exchange data.
"The index formed a sizable bearish candle, registering a lower high and a lower low, which underscores an extension of the ongoing decline and confirms the continuation of the corrective bias. During yesterday's weekly expiry session, Nifty breached the previous major low of 12 January at 25,473 and witnessed a sharp sell-off in the latter half of the session. The decline extended to near the 200-day EMA, currently placed around 25,162, indicating increased downside pressure," said the analysts at Bajaj Broking.
"Looking ahead, the overall bias remains negative. A sustained move below the 200-day EMA could trigger further weakness, opening the door for a decline towards the 25,000 marks in the coming sessions. On the upside, the Tuesday breakdown zone around 25,500 is expected to act as an immediate resistance for Nifty," they said.
Gold prices today
Multi-Commodity Exchange (MCX) data showed that the gold prices closed 3.37% or ₹4,921 per 10 grams higher at ₹150,560 per 10 grams after Tuesday's trading session, compared to ₹145,639 per 10 grams at the previous market close.
Silver rates on the futures market surged 4.16% or ₹12,925/kg to close at ₹323,200/kg after Tuesday evening's commodity market session, compared to ₹310,275/kg, according to official MCX data.
Stocks to buy today
Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, has suggested three stocks for Wednesday, 21 January 2026.
Stock picks include Hindustan Zinc, VRL Logistics, Tata Consumer Products, and Bharti Airtel.
Sumeet Bagadia stocks to buy today
1. Hindustan Zinc Ltd (HINDZINC): Buy at ₹681; Target Price at ₹730; Stop Loss at ₹657.
HINDZINC is currently trading at 681, the stock is in a strong upward trend, supported by steady buying interest and sustained higher price action. After retesting its previous higher levels, the stock has once again moved upward to register a fresh 52-week high of 696.9, reflecting renewed confidence among market participants.
The overall structure indicates strength, with consistent bullish candles and rising volumes confirming the momentum. The stock remains well-supported above its key moving averages - the 20-day, 50-day, 100-day, and 200-day EMAs - all of which are trending upward. This alignment confirms a solid trend structure and reflects growing confidence among investors. If it sustained above its higher levels it could lead to further upside, with a near-term target around 730.
On the downside, immediate support is located at 667. The Relative Strength Index (RSI) is currently at 69.32 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 657 is suggested to guard against any unexpected market reversals.
In conclusion, based on the technical analysis and current market conditions, HINDZINC presents a promising buying opportunity for those aiming for a 730 target, provided that appropriate risk management strategies are in place.
2. VRL Logistics Ltd (VRLLOG): Buy at ₹248; Target Price at ₹266; Stop Loss at ₹239.
VRLLOG is currently trading at 248, the stock is currently consolidating after a sharp decline from recent highs, and price action is showing early signs of a base formation. This structure suggests a potential reversal as buying interest emerges near the demand zone.
The overall view indicates stabilisation at lower levels, with strong support near the recent swing low area and resistance placed near the previous breakdown zone and the declining trend line, which will be important levels to watch for upside continuation. The price is still below key exponential moving averages, but shorter-term averages are beginning to flatten, suggesting that downside pressure is easing and a bounce could develop. If it sustained above its higher levels it could lead to further upside, with a near-term target around 266.
On the downside, immediate support is located at 244. The Relative Strength Index (RSI) is currently at 33.49 and is in the oversold zone and has started to turn upward, indicating improving momentum and a possible recovery. To manage risk effectively, a stop-loss at 239 is suggested to guard against any unexpected market reversals.
In conclusion, based on the technical analysis and current market conditions, VRLLOG presents a promising buying opportunity for those aiming for a 266 target, provided that appropriate risk management strategies are in place.
Ganesh Dongre stocks to buy today
3. Hindustan Zinc Ltd (HINDZINC): Buy at ₹680; Target Price at ₹722; Stop Loss at ₹660.
Stock has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at ₹680 and has established a solid support base at ₹660.
This level has historically acted as a cushion, and the recent price action suggests a reversal from this support, reinforcing bullish sentiment. The technical setup points to the potential for a price retracement toward the ₹722 level in the near term.
Given the renewed strength and the favourable risk-reward ratio, entering at the current market price with a stop-loss placed at ₹660 offers a strategic opportunity to capture the expected upside move. The outlook remains positive as long as the stock holds above its key support zone.
4. Tata Consumer Products Ltd (TATACONSUM): Buy at ₹1,185; Target Price at ₹1,230; Stop Loss at ₹1,170.
Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹1,185 and maintaining a strong support at ₹1,170.
The technical setup indicates the potential for a price retracement towards the ₹1,230 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹1,170 offers a prudent approach to capturing the anticipated upside.
5. Bharti Airtel Ltd (BHARTIARTL): Buy at ₹1,995; Target Price at ₹2,050; Stop Loss at ₹1,975.
Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 1995 and maintaining a strong support at ₹1,975.
The technical setup indicates the potential for a price retracement towards the ₹2,050 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹1,975 offers a prudent approach to capturing the anticipated upside.
source: Mint
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Us. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
No comments:
Post a Comment