Stocks To Buy Today, Dec 23: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Tuesday

As foreign institutional investors (FIIs) became net buyers, the Indian equity markets continued to rise for a second straight session, contributing to the upward trend for the major indices. The benchmarks closed well, with the BSE Sensex rising 638 points, or 0.75%, to end at 85,567.48 and the Nifty 50 rising 206 points, or 0.79%, to conclude at 26,172.40. Even as markets improved, volatility surged somewhat, with the India VIX jumping by 9.67 percent, indicating a spike in caution. Volatility is anticipated to stay under control as long as the VIX remains below 12.

Nifty Outlook Today

"On the downside, the 26,000 zone continues to act as an immediate cushion, while the 25,950 region serves as a stronger base in case of any corrective move. On the higher end, sustaining above 26,200 will be crucial for the index to extend its upward journey toward 26,300 and beyond," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"Overall, the market structure remains positive, supported by strong technical cues and constructive derivative positioning, though traders should remain alert to the possibility of mild profit-taking near resistance levels," he further added.

Bank Nifty Outlook Today

"Looking ahead, as long as the index sustains above 59,000, the broader setup remains constructive. A decisive move above the 59,400-59,570 resistance band could trigger fresh upside momentum, potentially opening the path toward 59,800 in the coming sessions. However, given the cautious derivative positioning, some consolidation near resistance levels cannot be ruled out before the next directional move unfolds," Dhupesh Dhameja further commented.

Stocks To Buy Today

Technical analyst Riyank Arora of Mehta Equities Ltd. suggested purchasing two stocks on Tuesday, December 23, after the Nifty formed an impressive bullish candle on the daily chart, indicating that the current upward trend is likely to continue.

Dixon Technologies

Buy at CMP: Rs 13,380 | SL: Rs 12,000 | Target: Rs 14,400

Dixon Technologies continues its strong bullish trend, supported by robust volume activity and sustained buying interest. The stock recently broke out of a consolidation phase and remains well-positioned for further upside. As long as it holds above ₹12,000, momentum is likely to extend toward ₹14,400 in the coming sessions.

Juniper Hotels

Buy at CMP: Rs 261 | SL: Rs 250 | Target: Rs 275 / Rs 285

Juniper Hotels has been forming a steady higher-low structure, indicating accumulation at lower levels. The stock is attempting to sustain above its short-term moving averages, suggesting improving strength. A move above ₹265 could accelerate the uptrend toward ₹275-₹285. Traders can consider buying near ₹261-₹263 with a stop loss at ₹250.

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