Raja Venkatraman recommends three stocks for 11 November

Résumé détaillé

Market expert Raja Venkatraman shares his top stock picks for 11 November. Here’s his technical outlook and trade strategy.

Stock market recap: As the week began, markets emerged from a phase of measured consolidation with volatility building beneath the surface. The gradual swings of the previous series gave way to stronger directional conviction, driving a sharp rally from the opening session.

On Monday, Sensex climbed 107.25 point to settle at 81,106.65, while the Nifty rose 58.25 points, or 0.23 per cent, to close at 25,044.65.

On 9 November, Indian equity markets extended their winning streak, although gains were modest compared with the sharp rally of the previous week. The Nifty 50 rose 58.25 points to close at 25,044.65, holding above the crucial 25,000 mark, while the Sensex gained 107.25 points to settle at 81,106.65, its highest closing level in more than eight months.

The session remained volatile, with investors booking profits after a seven-session rally. However, buying in banking and select heavyweight stocks helped the benchmarks recover from intraday lows and end in positive territory.

Banking stocks led the gains, with PSU banks significantly outperforming the broader market. The Nifty PSU Bank index surged nearly 3.7%, while the Bank Nifty advanced around 1.5%, supported by gains in SBI, HDFC Bank, ICICI Bank and other financial stocks. Pharma stocks also attracted buying interest, while IT and metal stocks faced profit-booking. HCL Technologies, Infosys, Tech Mahindra and Tata Steel were among the key laggards.

Strong performance in GIFT Nifty points to a firm start for the market. With the indices moving beyond key resistance zones, investors need the conviction to buy even at these levels. The positive sign is that indices have moved ahead sharply, while individual stocks are taking longer to catch up. This suggests that index traders may still have an opportunity to participate in the rally.

Broader markets remained resilient, with the Nifty Midcap 100 gaining around 0.55% and small-cap stocks posting marginal gains.

Technically, the Nifty has broken above multiple…

Momen…

Début de l'article, extrait de Mint. Pour lire la suite, ouvrez l'article chez le média.