Market momentum shifted downward again on Wednesday as prices slid further, signaling that sellers remain in control of the near-term direction. With the trend lacking a clear breakout, investors should navigate this volatile environment with caution.
Three stocks to trade today, recommended by NeoTrader’s Raja Venkatraman
PIIND (current price: ₹3212)
Sell below ₹3210, stop ₹3255 target ₹3165 (Intraday)
- Why it’s recommended: PI Industries Limited is an integrated life sciences company that develops sustainable solutions for global food security, environmental stewardship, and health sciences. After the profit booking that began in early November 2025, we are now seeing a steady intraday decline that confirms building selling pressure. With the RSI firming up once again, there is a possibility of more upside in the coming days. A fall beyond the TS&KS region suggests the possibility of the trends moving lower.
- Key metrics:
- P/E: 27.47,
- 52-week low: ₹2952.05,
- Volume: 212.93K.
- Technical analysis: Support at ₹1199, resistance at ₹1450.
- Risk factors: Operational, market/environmental, and regulatory challenges, primarily stemming from its core agrochemical business and new pharmaceutical ventures.
- Sell : below ₹3210.
- Stop loss: ₹3255.
- Target price: ₹3165.
DLF (current price: ₹682.10)
Sell below ₹680, stop ₹688 target ₹669 (Intraday)
- Why it’s recommended: DLF focuses on luxury residential, commercial (offices, malls), and retail properties, with major developments in Gurugram (DLF City) and expanding into other cities. After some consolidation the prices have reached a strong set of valuation supports and are seen rebounding. Also, the RSI is seen moving above 60 with a nice long body candle at the end of the day, indicating that there is a strong possibility to move higher.
- Key metrics:
- P/E: 69.37,
- 52-week low: ₹601.20,
- Volume: 3.94M.
- Technical analysis: Support at ₹660, resistance at ₹705.
- Risk factors: Cyclicality of the real estate industry, regulatory changes, high reliance on the Gurugram market, and significant contingent liabilities from legal matters.
- Sell : below ₹680.
- Stop loss: ₹688.
- Target price: ₹669.
LUPIN (current price: ₹2113.10)
Buy above ₹2116, stop ₹2089 target ₹2160 (Intraday)
- Why it’s recommended: Lupin Limited is a major Indian global pharmaceutical company known for its generics, APIs (Active Pharmaceutical Ingredients), and specialty medicines. The last few trading sessions are showing the pullback into the TS & KS bands are generating a steady buying interest. After a consolidation the stock is seen heading slipping lower and a formation of a long body candle that is heading below is indicating bearishness. With the trends in RSI seen moving above 60 the stock could generate some upside.
- Key metrics:
- P/E: 47.75,
- 52-week high: ₹2174.70,
- Volume: 5.76M.
- Technical analysis: Support at ₹1950, resistance at ₹2100.
- Risk factors: Intense domestic competition, high debt levels and capital expenditure, and exposure to geopolitical and currency volatility in African markets.
- Buy : above ₹2116.
- Stop loss: ₹2089
- Target price: ₹21.
How the stock market performed on Wednesday
On 17 December, Indian equities closed lower for the third consecutive session, with the Nifty slipping beneath the 25,800 mark as weak market breadth and persistent midcap underperformance weighed on sentiment.
Despite opening on a firm note, indices failed to sustain gains amid mixed global cues following sluggish U.S. jobs data, continued foreign institutional investor (FII) outflows, and uncertainty surrounding the delayed India-US trade deal. At close, the Sensex declined 120 points or 0.14% to settle at 84,559.65, while the Nifty shed 41 points or 0.16% to end at 25,818.55.
The broader market remained under pressure, with the BSE Midcap index losing 0.6% and the Smallcap index slipping nearly 1%, reflecting risk aversion among investors. Meanwhile, the rupee staged a recovery after hitting record lows in the previous session, appreciating by 66 paise to close at 90.37 against the dollar, snapping a five-day losing streak and offering some relief to market participants.
Outlook for trading
Broader indices were unable to contain the profit booking that emerged at the start of the week as the market kept dragging . Despite a rebound on the back of Trump keeping us guessing about his next move , the markets are clearly unable to hold on to the rebound convincingly. While every attempt was made to keep the markets in a positive territory the intermittent decline continues to retest the bullish resolve. Right now, the pronounced volatility is causing some disturbance in forming the bias thus making the markets jittery.
Trends remained confused as the positive vibes in Bank Nifty started to move ahead. Towards the close of the day the trends continuing to show some upward traction we can see that the markets began to gain in momentum. With the result season in play the expectation from the numbers continue to fall short. As we operate in an environment of adhoc triggers, the markets shall continue to oscillate over the last few days.
Volatile environment is now part of the ever-changing market scenario forcing the sentiment to keep changing. Risk management is critical, as the lack of clarity is greater than ever. Global cues always had a hold on domestic sentiment. Amongst them, the Trump Tariff Saga has the global markets oscillating. With no clarity on the outcome, we shall continue to oscillate in a range between 25700 and 26100.
Nifty attempts to defend 25700 which acts as the next big support as we head into the next week. With the Open Interest data clearly indicating market is balancing at critical juncture of 25900 as we head into the next trading day with no clear evidence for a rebound as lower levels are being bought into. The Max Pain point has now moved lower now to 25850, we need to see how this level holds on Thursday to decide the way forward.
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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.
