After two days of dull rangebound trading, market enthusiasm remains subdued as higher levels prove challenging to sustain. Given the ongoing uncertainty in global cues, a cautious approach is warranted as stock-specific movements are now dominating market activity.
Here are two stocks to buy or sell as recommended by Raja Venkatraman of NeoTrader for Tuesday, 20 May.
GREENPLY: Buy CMP and dips to ₹297, stop ₹288 target ₹338 – 358
VRLLOG: Buy CMP dips to 525, stop 517 target ₹580- 605
Stock market today
Yesterday proved to be another lackluster session for the broader market. The BSE Sensex closed down by 271 points at 82,259, and the Nifty 50 index slipped 74 points to settle at 24,945. This decline was primarily attributed to losses in information technology (IT) stocks, triggered by Moody’s downgrade of the US government’s credit rating, which negatively impacted investor confidence.
Sector-wise, Nifty IT and Nifty Media experienced the most significant losses, while Nifty PSU Bank, Nifty Realty, and Nifty Pharma emerged as the top-performing sectors.
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Conversely, the Indian rupee strengthened by 0.12% against the US dollar, reaching 85.40. This appreciation was supported by a weakening US dollar, which was itself affected by concerns surrounding US debt and deficits in the wake of Moody’s sovereign credit rating downgrade late last week.
Outlook for trading
The Nifty 50 is currently consolidating without a clear directional momentum. Given the prevailing market uncertainty, it’s crucial to remain cautious and await stronger recovery signals, as a reversal from the current levels cannot be ruled out.
Despite this consolidation, the ongoing formation of higher tops and bottoms indicates that the underlying trend still favours bullish sentiment. In the short term, the Nifty 50 is expected to trade within a range of 24,800 to 25,200. A decisive break below 24,800 could trigger significant selling pressure, while a move above 25,200 might pave the way for further gains towards the 25,500-25,700 range.
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The muted trends and lack of clear direction are also reflected in the options data. The Put/Call Ratio (PCR) for the Nifty 50 stands at 0.60, suggesting it might be approaching oversold levels. Meanwhile, the Bank Nifty’s PCR of 0.86 indicates continued hesitation for an upward move within the options segment. Therefore, any positive movement should be considered a potential signal rather than a definitive confirmation of a sustained uptrend. As previously highlighted, the bullish bias remains, but it is currently awaiting stronger catalysts to materialize.
Two stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
GREENPLY (Cmp 308.05)
GREENPLY: Buy CMP and dips to ₹297, stop ₹288 target ₹338 – 358
- Why it’s recommended: GREENPLY has been benefiting from growing demand for furniture and wood panel markets. The company reported a strong Q4 2025 as their plywood and MDF business saw a substantial increase. After a long phase of consolidation the prices have given a breakout with the help if this encouraging tailwinds.
- Key metrics:
- P/E: 39.37
- 52-week high: ₹412
- Volume: 413.52 K
- Technical analysis: Support at ₹250, resistance at ₹425.
- Risk factors: Raw material price volatility, competitive pressures, and economic fluctuations impacting demand for furniture products.
- Buy: CMP and dips to ₹297.
- Target price: ₹338-358 in 1 month.
- Stop loss: ₹288.
Also read: ₹100 now, 70% wouldn’t go to equity. Here’s why.”>If Shankar Sharma had ₹100 now, 70% wouldn’t go to equity. Here’s why.
VRLLOG: (Cmp 551.75)
VRLLOG: Buy CMP and dips to 525, stop 517 target ₹580- 605
- Why it’s recommended: Logistics space is undergoing some significant transformation and in this scenario VRLLOG has brought about some major changes in its approaches that has helped it to come out of the shadows in the last few days. With a positive move seen on the charts, one can consider that the trends can be expected to continue for the next few days.
- Key metrics:
- P/E: 35.23
- 52-week high: ₹625
- Volume: 140.18 K
- Technical analysis: Support at ₹455, resistance at ₹650.
- Risk factors: economic conditions, financial reporting, political environment, competition, and regulatory compliance.
- Buy: CMP and dips to ₹525.
- Target price: ₹580 – 605 in 1 month.
- Stop loss: ₹517.
Raja Venkatraman is co-founder, NeoTrader. His 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 provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
