Market Expert Raja Venkatraman Reveals Top Stock Picks for 14 January
Raja Venkatraman, the co-founder of NeoTrader, has recommended three stocks for trading on 14 January 2026. His analysis comes amid a volatile market environment where trends are not linear, suggesting traders should consider both sides of the market.
Three Recommended Stocks with Trading Levels
Venkatraman provided specific buy, stop-loss, and target prices for each stock. All buy trades are based on equity rates, while sell rates refer to futures and options.
- Tata Elxsi Ltd: Buy above ₹5,800, with a stop loss at ₹5,685 and a target of ₹6,175 for a multiday trade.
- ICICI Bank Ltd: Buy above ₹1,440, with a stop loss at ₹1,410 and a target of ₹1,525 for a multiday trade.
- BSE Ltd: Buy above ₹2,795, with a stop loss at ₹2,720 and a target of ₹2,925 for an intraday trade.
Recent Market Performance and Context
On 13 January 2026, Indian equity markets experienced a downturn. The Sensex closed 250 points lower at 83,627.69, marking a 0.3% decline. The Nifty50 settled at 25,732.30, losing 57.95 points or 0.22%.
Markets opened positively, extending a rebound from Monday. Both indices had gained 0.4% after a five-session losing streak that erased nearly 2.5% of value. Initial optimism stemmed from expectations of progress in India-US trade talks, following comments from the US envoy.
However, sentiment turned cautious as selling pressure emerged in auto, IT, and pharma sectors. Heavyweights like Larsen & Toubro, Dr. Reddy’s Laboratories, and Cipla declined up to 2%, dragging benchmarks lower. In contrast, select energy stocks provided support, with ETERNAL and ONGC advancing nearly 3%.
Overall, profit-taking and persistent foreign selling capped the market's recovery momentum.
Technical Outlook and Market Analysis
The Nifty is now testing support around 25,500. The ongoing rise will face challenges at immediate value area resistances on the daily chart around 25,900 and 26,100. A move above this area could force bearish traders to reconsider their positions.
While buying is emerging during the pullback, markets are entering a critical phase as the week concludes. Supports can be revised to around 25,600, where the next set of supports lies, making it a target for buy-on-dips strategies.
The Put Call Ratio (PCR) has moved below 1 in the Nifty and stands at 1.02 in the Bank Nifty, indicating a sedate approach by bullish traders. With lack of clarity on trends, caution is advised.
Currently, bearishness has not dragged the index much lower. Until the Nifty moves decisively below 22,500, open interest data highlights 22,200 as the next support level. In this ranging market, quick profit-taking is essential as trends lack sufficient steam to move strongly in either direction.
Detailed Analysis of Recommended Stocks
Tata Elxsi Ltd (CMP: ₹5,793.25)
Why it's recommended: Tata Elxsi is a global design and technology services company. It uses an AI-first, design-led approach to develop next-generation solutions in areas like Software Defined Vehicles (SDV), digital health, and immersive technologies. After months of consolidation, prices moved higher resolutely on Monday, forming a large body candle. The positive Directional Indicator (DI) is inching higher, signaling emerging positive vibes. Traders should consider initiating long positions.
Key metrics: P/E Ratio: 53.84, 52-week high: ₹6,733.50, Volume: 384.98K.
Technical analysis: Support at ₹5,500, resistance at ₹6,500.
Risk factors: Intense competition in the fragmented retail market, significant working capital requirements, and substantial promoter share pledging.
Trading levels: Buy above ₹5,800, stop loss at ₹5,620, target price ₹6,175 (two months).
ICICI Bank Ltd (CMP: ₹1,437)
Why it's recommended: ICICI Bank is India's second-largest private sector bank, offering a wide range of retail and corporate financial services. The stock has reacted into a strong set of supports around the cloud support region, forming a nice rounding pattern. A strong long body candle around the Tenkan-sen and Kijun-sen bands augurs well for upside if the market rebounds. A rise in the DI indicates a long opportunity for a push to higher levels.
Key metrics: P/E Ratio: 20.74, 52-week high: ₹1,494.10, Volume: 14.3M.
Technical analysis: Support at ₹1,390, resistance at ₹1,600.
Risk factors: Credit risk from potential increases in non-performing assets (NPAs), intense competition from fintechs, and regulatory pressures.
Trading levels: Buy above ₹1,440, stop loss at ₹1,410, target price ₹1,525 (two months).
Union Bank of India (CMP: ₹166.19)
Why it's recommended: Union Bank of India is a major Indian public sector bank headquartered in Mumbai. It offers diverse financial services and is known for its extensive network and digital initiatives. Prices have declined into strong cloud support and held steady in recent trading sessions near the value support region around 6,000. The revival has surpassed the cloud region, with strong upside emerging in the last trading session.
Key metrics: P/E Ratio: 7.06, 52-week high: ₹167.30, Volume: 15.01M.
Technical analysis: Support at ₹159, resistance at ₹175.
Risk factors: Slower-than-expected revenue growth, managing top-level attrition, and efficiently integrating operations.
Trading levels: Buy above ₹166.50, stop loss at ₹163, target price ₹171.
Important Disclosures and Cautions
Raja Venkatraman is the co-founder of NeoTrader. His SEBI-registered research analyst registration number is INH000016223. Investments in securities are subject to market risks. Investors should read all related documents carefully before investing.
Registration granted by SEBI and certification from NISM do not guarantee the performance of the intermediary or provide any assurance of returns to investors. The views and recommendations in this article are those of individual analysts and do not represent the views of Mint. Investors are advised to consult certified experts before making any investment decisions.
