Three stocks to trade as recommended by Raja Venkatraman of NeoTrader for today:
(All buy trades are rates of equity, and sell rates are based on F&O.)
Adani Energy Solutions Ltd: Buy above ₹986 | Stop ₹950 | Target ₹1,060 (multiday)
Bharat Electronics Ltd: Buy above ₹426 | Stop ₹419 | Target ₹435 (intraday)
Doms Industries Ltd: Buy above ₹2,575 | Stop ₹2,540 | Target ₹2,625 (intraday)
Stock market recap
On 31 October, Indian benchmark indices closed lower for the second consecutive session, pressured by persistent selling in metal, IT, and media stocks. Despite opening flat amid mixed global cues, markets failed to sustain early gains and ended near the day’s low. The BSE Sensex declined 465.75 points (0.55%) to 83,938.71, while the NSE Nifty fell 155.75 points (0.60%) to 25,722.10. Broader indices also mirrored the weakness, with the BSE Midcap slipping 0.5% and Smallcap down 0.4%.
However, selective buying in PSU banks helped cushion the downside. For the week, the Sensex and Nifty shed 0.3% and 0.6%, respectively, reflecting cautious sentiment. Still, October wrapped up on a strong note, with both indices gaining nearly 4.5% for the month, supported by earlier rallies and domestic inflows. Overall, the session highlighted sectoral divergence and investor caution ahead of key macroeconomic data and global developments.
Outlook for trading
Despite the best intentions, the market was unable to muster enough strength to sustain its upward momentum. With the 25,700 zone remaining intact, 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 approach participation with a neutral bias.
We saw a determined push by the bulls in the last week that managed to carry the Nifty decisively above the 26000 levels. Despite a hawkish commentary by the Federal Reserve that caught the market by surprise, and the resultant impact on Friday, it created a sharp drop that is now testing the value support region. After a positive sign in the Samvat week, the road ahead now seems murky.
So much so that the Nifty managed to rebound quite swiftly after testing the median line last week, indicating that the momentum could scale up the prices in the coming sessions. However, following the FOMC meeting, the trends have been unable to muster enough strength. The highs of 26,100 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 selloff 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 running if it has been set off. However, the market is displaying rapid shifts in mood, and it also appears that operators are taking full advantage of this.
The Nifty tripped very swiftly below the 26,000 zone and has now opened towards 25600, which acts as the next big support as we head into the next week. With the Open Interest data clearly indicating that we are nearing an oversold position, with the Max Pain point at 25,800, we need to see how this level holds on Monday to determine the way forward.
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Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
ADANIENSOL (Cmp ₹986.20)
Why it’s recommended: Adani Energy Solutions Ltd. (AESL) is a major Indian company in the energy sector, specializing in power transmission and distribution. This counter has been in decline since April 2025 and has experienced a revival since September 2025, suggesting a strong trend across multiple timeframes. The strong push in prices seen on Friday above the April highs indicates that it is set for a turnaround. Go long.
Key metrics:
P/E: 191.29,
52-week high: ₹1,090.65,
Volume: 2.48M.
Technical analysis: Support at ₹911, resistance at ₹1100.
Risk factors: Intense competition, reliance on key personnel, Global economic slowdowns and macroeconomic fluctuations.
Buy: Above ₹986.
Target price: ₹1,060.
Stop loss: ₹950.
BEL (Cmp ₹426.10)
Why it’s recommended: Bharat Electronics Ltd (BEL) is an Indian Navratna public sector undertaking (PSU) under the Ministry of Defence, Government of India, that specializes in advanced defence electronics. As prices are holding within the recent range, the thrust above the recent consolidation bodes well for prices. With momentum gathering pace, we can examine the trends that are holding and galvanising into a potential upward possibility over the next few weeks. Can look to go long.
Key metrics:
P/E: 56.83,
52-week high: ₹435.95
Volume: 51.34M.
Technical analysis: Support at ₹408, resistance at ₹460.
Risk factors: Client Concentration Risk, regulatory risk and Technology Upgradation and R&D Challenges.
Buy at: above ₹426.
Target price: ₹435.
Stop loss: ₹419.
DOMS (Cmp ₹2,572.10)
Why it’s recommended: DOMS Industries Limited is a leading Indian company that designs, develops, manufactures, and sells a wide range of branded stationery and art material products. The prices have slipped into the Ichimoku cloud region and are now forming rounding patterns backed by volumes, indicating that a positive turnaround is emerging. Following the recent test of the KS region, with a strong close on Friday, we can see some positive vibes emerging.
Key metrics:
P/E: 78.97,
52-week high: ₹3,111
Volume: 64.17K.
Technical analysis: Support at ₹2400, resistance at ₹2750.
Risk factors: Supplier retention, potential customer acquisition challenges, high interest rates, and inflation.
Buy: Above ₹2,575.
Target price: ₹2,625.
Stop loss: ₹2,540.
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.
