Raja Venkatraman Recommends Petronet LNG Buy and Ambuja Cements Sell for 20 August

These recommendations come amid a subdued market session on Wednesday, 19 August 2026, where the Nifty 50 slipped 0.14% to close at 24,288.10 and the Sensex edged up 0.10% to 78,225.40. The market remained volatile due to derivatives expiry and persistent pressure from elevated crude oil prices near $88 per barrel, which continue to weigh on sentiment due to inflation and fiscal concerns.

Banking and financial stocks declined around 0.4% amid uncertainty over the Reserve Bank of India’s draft loan-pricing rules, which clouded earnings visibility. Despite this, broader markets showed resilience with small-caps gaining 0.3% and mid-caps rising 0.2% on selective buying. Tata Motors extended its rally with a 3.1% gain on strong quarterly results, while Tata Group shares steadied after recent leadership-related volatility.

The Nifty 50 has now fallen for seven consecutive sessions, marking its longest losing streak since September 2025. On Wednesday, it briefly dipped below 24,050, approaching the key 24,000 level, and has lost over 2% in the past week. Analysts note the market’s weak response to stronger-than-expected Q1 earnings and hopes of a corporate recovery, with geopolitical tensions in West Asia keeping crude prices high and posing risks to India’s import-dependent economy.

For Petronet LNG, Venkatraman cites higher lows since March 2026, support from Tenkan Sen and Kijun Sen lines, and rising volume near support zones as signs of a revival. He notes the Directional Index is inching higher, suggesting potential for an upward move. Technical support is seen at ₹270 with resistance at ₹350. Risks include supply chain disruptions from Middle East partners, low asset utilisation at terminals like Kochi, and execution risks in its petrochemicals diversification.

Regarding Ambuja Cements, he points to negative Q1 results and a sustained selling pressure in the second week of August, which eroded upside aspirations. Despite cement sector resilience, he sees a consolidation breakdown with steady volumes indicating potential decline, warranting a short position. Technical support is at ₹350 and resistance at ₹450. Risks include operational supply vulnerabilities, volatile input costs, integration delays, and cyclical pressures in the cement market.

Venkatraman holds Sebi-registered research analyst certification (INH000016223) and leads the training division at NeoTrader. He has conducted market workshops for over 20 years under the mentorship of Dr C K Narayan and actively shares views through YouTube, blogs, and news channels. The article includes standard disclaimers that the views are personal and not those of Mint, and that investment in securities carries market risk.