Stocks To Buy Today, Jan 6: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Tuesday

Benchmark indices are trading in a mixed manner during the pre-opening session on Tuesday, January 6. The Nifty was down 110.35 points, or 0.42 percent, at 26,139.95, while the Sensex was up 230.53 points, or 0.27 percent, at 85,670.15. Currently, investors are placing bets on the "best-case scenario" for the supply of oil, but this may be unduly optimistic. Regarding volatility, the India VIX is still at low levels, which is indicative of consistent market expectations and minimal concern.

Nifty Outlook Today

"From a technical standpoint, the Nifty 50 continues to trade within a broader consolidation zone but with a positive bias. Immediate support is seen around 26,100-26,150, while resistance is placed near 26,400-26,450. A decisive breakout above this resistance band could pave the way for an upside move towards 26,500 and higher, whereas inability to sustain above higher levels may once again lead to range-bound trade. Traders are advised to trail positions and avoid chasing sharp opening moves," commented Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited.

Bank Nifty Outlook Today

"The Bank Nifty is also expected to open firm, tracking strength in frontline banking stocks. Key support lies near 59,700-59,800, while resistance is placed around 60,300-60,400," commented Aakash Shah.

Stocks To Buy Today

Technical analyst Riyank Arora of Mehta Equities Ltd. recommended buying two stocks on Tuesday, January 6, as the India VIX closed below 12 in the previous session, indicating that volatility will probably stay low.

Kotak Mahindra Bank Ltd

Kotak Mahindra Bank is in a neutral-to-positive trend, consolidating after a corrective phase. The stock is holding above its short-term moving averages, indicating buying interest on declines. Immediate support lies at ₹2,150-2,120, while a sustained move above ₹2,250-2,300 can trigger fresh upside momentum and trend resumption toward higher levels.

United Van Der Horst Ltd

United Van Der Horst is showing a sideways to mildly bullish structure, trading in a broad consolidation range. Price action suggests accumulation near lower levels. Strong support is placed at ₹200-190, while resistance stands at ₹235-250. A decisive breakout above resistance can lead to a sharp trending move with improving momentum.

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