Three stocks to trade as recommended by Raja Venkatraman of NeoTrader for today:
Best stocks to buy today (All Buy trades are rates of equity and sell rates are based on F&O)
Studds Accessories Ltd: Buy above ₹572 | Stop ₹555 | Target ₹610 (multi-day)
Axis Bank Ltd: Buy above ₹1,266 | Stop ₹1,245 | Target ₹1,305 (intraday)
Titan Co. Ltd: Buy above ₹3,885 | Stop ₹3,830 | Target ₹3,995 (intra-day)
Stock market update
On 18 November, Indian equity markets extended their winning streak, buoyed by positive global cues and optimism surrounding a potential India-US trade agreement. By 10:45am, the Sensex had advanced 388.17 points (0.46%) to 84,950.95, while the Nifty 50 climbed 122.80 points (0.47%) to 26,013.45. Market breadth tilted positive, with 1,982 stocks gaining versus 1,412 declining on the NSE. Sectorally, auto and metal stocks led the rally—Tata Motors, Mahindra & Mahindra, and JSW Steel posted strong gains—while IT counters like Infosys and Tech Mahindra saw mild profit-booking. Bharti Airtel and Shriram Finance continued their upward momentum, each rising over 1%.
The Bank Nifty surged 0.76% to 58,962.70, briefly touching a record high of 59,001.55, driven by strength in private lenders. Renewed foreign institutional investor inflows, stable macroeconomic indicators, and expectations of a breakthrough in trade negotiations contributed to the bullish sentiment, keeping the broader market tone constructive.
Outlook for trading
Despite the best intentions, the market could not conjure up enough strength to continue its upward march. With 25,700 zone continuing to be held, we can expect the momentum to revive further. The steady attempt to buy on every dip has once again given people a reason to explore the bullish side of the markets for now. With no clarity on the future course of action, we should be looking at participating with a neutral bias.
We saw a determined push by the bulls in the last session that managed to carry the Nifty decisively above the 26,100 levels. However, despite the strong Q2 performance this time around, the trends have not been able to demonstrate a convincing move above this level.
With so much volatility demonstrated, the Nifty truly kept the trends guessing about the next move. As seen on the charts, the highs of 26,100 after repeated tests of resistance will now become challenging. Since that level was quite well known, it was not surprising to see some selling emerge from those levels. Indeed, the sell-off seen towards the close of the session seemed quite determined with sustained follow-through price action. This becomes quite confounding for trend following people, as they normally look for sentiment to continue to run if it has been set off. But here you have the market displaying rapid shifts in moods, and it also seems like operators are taking strong advantage of this.
The Nifty tripped very swiftly below the 26,000 zone and will now need to defend 25,700, which acts as the next big support as we head into the next week. The Open Interest data clearly indicates the market is now divided, as lower levels are being bought into. The data reveals that the Max Pain point has now moved to 25,950, we need to see how this level holds on Wednesday to decide the way forward.
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Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
STUDDS (Cmp ₹571.45)
Why it’s recommended: Studds is an Indian company that designs, manufactures, and sells two-wheeler helmets and accessories under brands like “Studds” and “SMK”. The company was recently listed but was unable to sustain itself. After generating some support around the 525 region, the prices did not deteriorate further, and on Tuesday, saw a sharp surge to close beyond the listing day close. With strong volumes emerging, prices are showing some revival in momentum, supported by steady volumes, highlighting the possibility of more upward traction.
Key metrics:
P/E: 31.77,
52-week high: ₹585,
Volume: 4.34M.
Technical analysis: Support at ₹547, resistance at ₹640.
Risk factors: High debt levels, inconsistent profitability, high stock valuation, and promoter stake reduction.
Buy: Above ₹572.
Target price: ₹610 in two months.
Stop loss: ₹555.
AXISBANK (Cmp ₹1,265.40)
Why it’s recommended: Axis Bank Ltd, formerly known as UTI Bank, is the third-largest private-sector bank in India, providing a wide range of banking and financial services. After a sharp surge seen in this counter, the prices briefly slipped into a sideways phase before picking up pace once again from the TS & KS bands. The strong showing on Tuesday has reinstated buying interest once again. With the TS levels holding on in the last two days, one can look at going long at current levels.
Key metrics:
P/E: 16.15,
52-week high: ₹1276.10
Volume: 2.17M.
Technical analysis: Support at ₹1,217, resistance at ₹1,325.
Risk factors: Regulatory compliance, intense market competition, and geopolitical uncertainties.
Buy: Above ₹1,266.
Target price: ₹1,305.
Stop loss: ₹1,245.
TITAN (Cmp ₹3,879.20)
Why it’s recommended: Titan Co. Ltd is a leading Indian lifestyle company that is part of the Tata Group, known for its dominant position in the watches, jewellery, and eyewear markets. The stock has been on a sharp rise, forming small body candles, but has crossed over an important value area resistance. Some late session moves seen yesterday can lead to a run in today’s session. As we can observe, every dip into the TS & KS bands generates demand in lower timeframes. On the back of robust results, the strong upward move seen in the prices is signalling the possibility of more upward traction. Consider a long opportunity.
Key metrics:
P/E: 88.49,
52-week high: ₹3876,
Volume: 849.97K.
Technical analysis: Support at ₹3,770, resistance at ₹4,000.
Risk factors: Gold price volatility, regulatory risks and intense competition.
Buy: Above ₹3,885.
Target price: ₹3,830.
Stop loss: ₹3,995.
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.
