Indian equity benchmarks closed nearly flat on Friday after a volatile session, recovering from steep intraday losses. The market opened weak, tracking negative global cues, and extended its decline through the morning, dragging the Nifty to a low of 25,318.45. However, a sharp rebound in the latter half, led by strength in metal, auto, and banking stocks, helped the indices recover most of the losses.
Here are three stock recommendations by Raja Venkatraman of NeoTrader for Monday, 10 November.
SBILIFE (Cmp ₹1998.90)
Buy above ₹2005, stop ₹1980, target ₹2050 (Intraday)
- Why it’s recommended: SBI Life Insurance Company (SBILIFE) is one of India’s leading private life insurers, offering a comprehensive range of life insurance and pension products. SBILIFE has been moving steadily and the last week was spent in a range until a strong push on Friday above its recent highs around 1980 has resulted in the counter showing some strength. With steady rise in momentum and also supported by some steady volume, highlighting strong underlying bullish momentum. Go long.
- Key metrics:
P/E: 81.69,
52-week high: ₹2003.05,
Volume: 1.24M.
- Technical analysis: Support at ₹1900, resistance at ₹2125.
- Risk factors: Insurance (underwriting) risk, market/investment risk, operational risk, strategic risk, and regulatory/legal risk.
- Buy: above ₹2005.
- Target price: ₹2050.
- Stop loss: ₹1980.
VEDL (Cmp ₹515.50)
Buy above ₹516, stop ₹510, target ₹525 (Intraday)
- Why it’s recommended: VEDL refers to Vedanta Ltd, a diversified Indian natural resources company engaged in the exploration, extraction, and processing of minerals and oil and gas. At every profit booking scenario, the stock is seen taking support at the TS and KS Bands has been for the past few days. However, they have managed to show some resolve to move higher hence we have recommended this stock. The daily chart reveals a very steady run with a smooth run of the trend. Can look to go long.
- Key metrics:
P/E: 18.1,
52-week high: ₹527
Volume: 9.23M.
- Technical analysis: Support at ₹370, resistance at ₹405.
- Risk factors: Price volatility, high debt levels, complex regulatory environments, and ongoing corporate governance issues.
- Buy: above ₹516.
- Target price: ₹525.
- Stop loss: ₹510.
TRENT (Cmp ₹4627.30)
Sell below ₹4615, stop ₹4660, target ₹4550 (Intraday)
- Why it’s recommended: Trent Ltd is a leading Indian retail company and a prominent part of the Tata Group, specializing in branded fashion, lifestyle products, and grocery retail. The prices post its Q2 have been slowly and steadily inching lower since September 2025. The recent consolidation breakdown action has now indicated potential for more decline in the coming days. As bearish momentum spells more weakness consider going short.
- Key metrics:
P/E: 98.73,
52-week low: ₹4491.75,
Volume: 543.06K.
- Technical analysis: Support at ₹4300, resistance at ₹5000.
- Risk factors: intense competition, supplier retention, high interest rates, and raw material price volatility.
- Sell: below ₹4615.
- Target price: ₹4550.
- Stop loss: ₹4660.
Stock Market Recap
On 7 November 2025, Indian equity benchmarks closed nearly flat after a volatile session, recovering from steep intraday losses. The market opened weak, tracking negative global cues, and extended its decline through the morning, dragging the Nifty to a low of 25,318.45. However, a sharp rebound in the latter half, led by strength in metal, auto, and banking stocks, helped the indices recover most of the losses.
The Sensex ended down 94.73 points or 0.11% at 83,216.28, while the Nifty slipped 17.40 points or 0.07% to close at 25,492.30. Broader indices showed resilience, with the BSE Midcap index rising 0.2% and the Smallcap index finishing flat after recovering nearly 1.5% from the day’s low.
Sectoral rotation and buying in select heavyweights supported the recovery, despite continued foreign fund outflows. The session highlighted the market’s ability to absorb global pressure and find support from domestic themes and select sectors.
Outlook for trading
Now we have a bit of a situation here. Prices had dropped to near an important value support region that helped the Nifty rebound marginally on Friday that has again revived some bullish hopes. Now, if the price action proceeds to break the value area support of October 25300, then we will have a bearish pattern form on the weekly charts. That is not good news if it occurs because it will presage more declines ahead. As confluence of supports are getting aligned at 25300 it would be an important level to watch in the coming week.
The RSI on the intraday chart shown below is showing a revival from lower levels, reinstating a bullish undertone despite last week’s pullback. These signals point to a potential recovery phase, with the market setting up for a dip-buying opportunity. Additionally, the double top formation discussed last Thursday saw the prices dip into the gap support and also completed the pattern target. For the week ahead, if Nifty Spot manages to cross above 25,550, it could confirm renewed upward momentum, making it a viable entry point for traders looking to capitalize on the rebound from support.
Nifty, after incessant selling, has demonstrated resilience by absorbing recent declines and attracting buying interest at lower levels. A strong reaction near the lower parallel channel on the daily chart suggests that key support around 25,300 (Spot) has held firm. This technical rebound, coupled with a shift in the Put-Call Ratio (PCR) above 1, indicates that selling pressure is easing. In the previous reports we had shown that the Nifty had dipped below the median line and the extended selling pressure pushed the prices lower towards lower end of the channel.
Moving to the Bank Nifty , it was able to hold back the selling pressure quite well as it maintained the upward bias despite the other indices like Nifty and Mid and Small Caps wilting under the bearish deluge. It has been the first fall since the high made back in October so the pattern formation is not seen here yet. But here too we need to be on the guard for weakness because the private bank stocks have stopped performing of late. With Option Data too holding 57000 as an important support we need to observe if the Bank Nifty can generate some bullishness to surpass 58500 in the coming week. Currently, caught in between 58500 to 57000 as the sentiment continues to be mixed as the broader outlook continues to be positive.
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.
