Aniket Pujari
Three stocks to trade as recommended by Raja Venkatraman of NeoTrader:
Best stocks to buy today (All Buy trades are rates of Equity & Sell rates are based on F&O)
KEI Industries Ltd: Buy above ₹4,190 | Stop ₹4,120 | Target ₹4,350 (multiday)
Tech Mahindra Ltd: Buy above ₹1,540 | Stop ₹1,520 | Target ₹1,575 (intraday)
Siemens Ltd: Buy above ₹3,370 | Stop ₹3,330 | Target ₹3,440 (intraday)
Stock market update
The Indian markets ended in the red on 2 November 2025, as selling pressure across sectors and continued rupee depreciation weighed on investor sentiment. The Sensex closed 200 points lower at 85,450, while the Nifty slipped 75 points to settle near 26,150, marking a pause after recent record highs. Broader indices also mirrored the weakness, with the BSE Midcap Index ending flat and the Smallcap Index declining around 0.5%.
Currency markets added to the pressure, as the Indian rupee touched a fresh low of 89.60 per dollar intraday before closing at 89.55, extending its slide against the greenback. Analysts noted that while domestic fundamentals remain supportive, foreign investor outflows and global uncertainties around interest rates are keeping volatility elevated.
Overall, 2 November reflected a cautious mood, with traders booking profits and awaiting clarity on global monetary policy trends.
Outlook for trading
As the market remains muted, triggered by geopolitical tensions, it tested our patience on Friday but did not give up the lower levels. Over the last month, the 1,000-point range could now limit our expectations for the December series. However, the trend observed over the last few days indicates that the Nifty is experiencing some profit booking. In the last report, we had mentioned, “from the charts above, we can see that the trends are down into some strong set of supports yet again”. However, the fall escalated beyond the Monday low to induce some selling pressure on the expiry day.
On the charts, we note that falling below the median line creates pressure on the overall trend.
Taking some cues from the Option data, we can note that the levels around 26,000, which had steady Put writers, have now ensured that the upward possibility gains more momentum. With the PCR nearing 0.91, we can expect some trended move today. Stay alert.
The emerging trend clearly suggests that the dips seen last week managed to hold the support zone, and the gap-down opening was covered, ensuring that prices traded above the range area that developed over the last few days. Hence, one should track the trends that are in progress as up move needs to continue their way above 26,200 (Nifty Spot) to renew the bullish bias. Momentums on hourly charts are indicating that the prices after settling down seems to have witnessed a resumption of selling pressure. With the consolidation in progress and the trends remaining unclear, we can expect the rise to remain limited.
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For undertaking shorts, we need to see the Nifty move above 25,900, which is the immediate support as per the Open Interest data. If we witness a 30-minute range breakout on Wednesday, we can consider to trade on either side as the trends still remain tentative where we expect some resistances to kick in.
While the trends in the indices are still unclear, there is plenty of action as far as the stocks are concerned.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
KEI (Cmp 4,184.30)
Why it’s recommended: KEI Industries Ltd (KEI) is a premier Indian manufacturer and supplier of wires and cables, established in 1968. It is a leading player in the domestic market and has a significant global presence, serving clients in over 60 countries. After some recent reaction and dip down into the TS & KS bands have once again seen buying interest stepping in. While momentum did take a breather, the metal sector is back in action, and this stock is showing some strong moves. Consider going long.
Key metrics:
P/E: 50.71,
52-week high: ₹4,699,
Volume: 143.91K.
Technical analysis: Support at ₹4,050 | Resistance at ₹4,400.
Risk factors: Raw material price volatility, working capital management, and potential project delays in its capital expansion plans.
Buy: Above ₹4,190.
Stop loss: ₹4,120.
Target price: ₹4,350 in two months.
TECHM (Cmp 1,536.70)
Why it’s recommended: Tech Mahindra Ltd is an Indian multinational IT services and consulting company providing digital transformation, IT services, and business process outsourcing (BPO) to companies across various industries worldwide. As IT sector continues to hold firm, we can observe that the rise in this counter has resumed after a brief halt. As momentum saw some upward charge towards the close of yesterday’s trading session, taking support on the Kumo cloud, consider going long.
Key metrics:
P/E: 38.28,
52-week high: ₹1,807.40,
Volume: 1.75M.
Technical analysis: Support at ₹1,500 | Resistance at ₹1,600.
Risk factors: Macroeconomic and regulatory changes in key markets like the US and Europe, intense competition in the global IT industry, currency fluctuations.
Buy: Above ₹1,540.
Stop loss: ₹1,520.
Target price: ₹1,575.
SIEMENS (Cmp 3361)
Why it’s recommended: Siemens Ltd is a leading Indian technology company and the flagship listed entity of the German multinational conglomerate, Siemens AG, in India. This counter has been preparing for an upward move after a sharp decline. The recovery, supported by some volumes, is generating momentum to the upside. The RSI is seen slowly inching higher, as buying interest steps in on the intraday timeframe. Go long.
Key metrics:
P/E: 74.46,
52-week high: ₹8,026
Volume: 744.35K.
Technical analysis: Support at ₹3,245 | Resistance at ₹3,475.
Risk factors: Market volatility, regulatory changes, risks from significant related-party dealings and cargo concentration.
Buy: Above ₹3,370.
Stop loss: ₹3,330.
Target price: ₹3,440.
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.
