FinanceMonday, November 2, 20261 min read

Raja Venkatraman recommends three stocks for 2 November

By Livemint Markets · Published by Everything Blog

In short

The Nifty 50 held above the 23,000 level to close at 23,053.10, supported by aggressive put writing and short covering that could pave the way toward 23,500. However, sustained momentum requires participation to broaden beyond tech giants into lagging sectors like banking. Amid these selective conditions, specific entry triggers and tight risk boundaries have been mapped out for Ather Energy, Shyam Metalics and Energy, and PPL Pharma.

Key points

Market strength remains dangerously narrow due to ongoing underperformance in banking and…: Market strength remains dangerously narrow due to ongoing underperformance in banking and persistent profit booking in smaller caps.
Technical indicators suggest the Nifty could advance toward the 23,300 to 23,500 range if…: Technical indicators suggest the Nifty could advance toward the 23,300 to 23,500 range if institutional support persists.
Defined multiday trade setups require disciplined risk management with predetermined stop…: Defined multiday trade setups require disciplined risk management with predetermined stop losses across all recommended positions.

Sources checked by our analysis pipeline: 1

Resistances were overcome as the bullish enthusiasm continues to face lot of hesitation and has failed to steer clear of the trend and forge ahead. However, the sustained bullish action despite some periodic shakeup has instilled greater confidence in the market.

The Indian equity markets witnessed a highly volatile yet resilient week, with benchmark indices recovering strongly after facing intermittent bouts of selling pressure. While concerns over elevated crude oil prices, global uncertainties, and mixed earnings kept traders on edge, the latter part of the week saw a notable resurgence in buying interest that enabled the Nifty to reclaim the psychologically important 23,000 mark.

The Nifty 50 closed at 23,053.10, while the Sensex settled at 74,459.53, ending the week on a firm footing.

Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:

ATHERENERG (Cmp 1756)

ATHERENERG: Buy above ₹1760, stop ₹1650 target ₹1995 (Multiday)

- Why it’s recommended: Ather Energy Limited is a pioneer and leading electric two-wheeler (E2W) manufacturer in India. Post a volatile phase from Augu 2026 the stock is now witnessing a revival from deep oversold levels.…

AI Analysis

Tone

Neutral

In short

Key Points

Market strength remains dangerously narrow due to ongoing underperformance in banking and…: Market strength remains dangerously narrow due to ongoing underperformance in banking and persistent profit booking in smaller caps.
Technical indicators suggest the Nifty could advance toward the 23,300 to 23,500 range if…: Technical indicators suggest the Nifty could advance toward the 23,300 to 23,500 range if institutional support persists.
Defined multiday trade setups require disciplined risk management with predetermined stop…: Defined multiday trade setups require disciplined risk management with predetermined stop losses across all recommended positions.

Topics

Finance

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AI Analysis

Tone

Neutral

In short

Key Points

Market strength remains dangerously narrow due to ongoing underperformance in banking and…: Market strength remains dangerously narrow due to ongoing underperformance in banking and persistent profit booking in smaller caps.
Technical indicators suggest the Nifty could advance toward the 23,300 to 23,500 range if…: Technical indicators suggest the Nifty could advance toward the 23,300 to 23,500 range if institutional support persists.
Defined multiday trade setups require disciplined risk management with predetermined stop…: Defined multiday trade setups require disciplined risk management with predetermined stop losses across all recommended positions.

Topics

Finance

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Raja Venkatraman recommends three stocks for 2 November

In short

Key points

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