Market Expert Raja Venkatraman Shares Top Stock Picks and Technical Outlook

During the week, Nifty traded in a volatile range between 23,116.10 and 23,592.85, showing sharp intraday swings. The week started positively on 21 September, with Nifty gaining 0.29 percent to 23,414.30 and Sensex rising 0.76 percent to 74,858.99, helped by bargain buying in large-cap stocks and lower crude oil prices. However, broader markets did not take part, as midcaps and smallcaps fell.

Stock Picks

Market expert Raja Venkatraman shared his top stock picks and trade strategy. For Rolexrings, the recommendation is to buy above 196 rupees, with a stop loss at 187 rupees and a target of 218 rupees. For Emil, the advice is to buy above 201 rupees, with a stop loss at 193 rupees and a target of 223 rupees. For Maninfra, the trade call is to buy above 131 rupees, with a stop loss at 127.50 rupees and a target of 139 rupees. All these recommendations are for a multiday horizon.

Market Pressures

Sectoral performance was mixed as pharma and realty indices gained over one percent, while metals came under pressure. Sentiment weakened midweek due to elevated global bond yields and ongoing geopolitical tensions in the Middle East. Foreign institutional investors kept selling equities, and Reuters noted this was the longest streak of weekly declines for Indian equities since 2020. By the end of the week, Nifty closed down 51.70 points at 23,346.40, while Sensex lost 486.80 points and Bank Nifty fell 247.85 points. Raja Venkatraman is the co-founder of NeoTrader and a Sebi-registered research analyst.

Context

Stock market analysts often use technical charts and price patterns to suggest short-term trading strategies for investors. These market recommendations are based on past price movements and current trends, but all investments carry inherent financial risks.