Raja Venkatraman recommends three stocks for 12 November

Markets extended their positive undertone, with sustained buying interest helping indices maintain their upward trajectory despite intermittent profit booking.

On 11 November 2026, Indian equity markets resumed trade after the holiday with strong bullish momentum, supported by easing crude oil prices, sustained FII inflows, and positive global cues. The Nifty 50 advanced 210.40 points or 0.84% to close at 25,255, while the Sensex gained 772.75 points or 0.95% to settle at 81,879.40, extending the ongoing uptrend and scaling fresh multi-month highs. Market breadth remained firmly positive, with advances significantly outnumbering declines, reflecting broad-based participation across sectors.

Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:

RKFORGE (Cmp 764.70)

RKFORGE: Buy above ₹765, stop ₹725 target ₹840 (Multiday)

• Why it’s recommended: Ramkrishna Forgings Limited (RKFORGE) is a premier global supplier in the metal forming industry and stands as India's second-largest forging player. Since August 2026 the lack of upward momentum had pushed the prices lower only to test key important levels has been spent in declining phase. In the recent past we can note that the prices have attempted to form a double bottom and is showing some volume lead recovery. The strong Relative Strength Divergence from lower levels is indicating a potential upmove that is unfolding. As possibility of upmove emerges one can consider going long.
• Key metrics:
  • P/E Ratio : 76.88,
  • 52-week high: ₹772.40
  • Volume: 2.27M
• Technical analysis: Support at ₹670, resistance at ₹3000.
• Risk factors: Heavy cv dependence, geopolitical & tariff barriers and export volatility.
• Buy : above ₹765.
• Stop loss: ₹725.
• Target price: ₹840 (2 Months)

AARTIIND (Cmp 483.25)

AARTIIND: Buy above ₹485, stop ₹460 target ₹525 (Multiday)

• Why it’s recommended: Aarti Industries Limited (AARTIIND) is a leading Indian manufacturer of specialty chemicals and pharmaceuticals, speciality chemical manufacturer globally recognized for its downstream chemistry expertise. After a sharp downward reaction since August 2026, the prices have demonstrated a V-Shaped recovery. With strong showing this week prices have surpassed the value area resistance around 1330. A V shaped recovery augurs well for some upside with the market recovery in play. A rise in the DI indicates that we can look to initiate a long opportunity here for a push to higher levels. Go long now.
• Key metrics:
  • P/E: 28.89,
  • 52-week high: ₹551.45,
  • Volume: 2.07M.
• Technical analysis: Support at ₹430, resistance at ₹550.
• Risk factors: Chinese Dumping & Margin Compression and Elevated Debt Load.
• Buy : above ₹485
• Stop loss: ₹460.
• Target price: ₹525 (2 Months)

ABLBL (Cmp 81.67)

ABLBL: Buy above ₹81.80, stop ₹78 target ₹88 (Multiday)

• Why it’s recommended: ALBL primarily refers to Arvind Lifestyle Brands Limited, a major player in the Indian retail sector and a subsidiary of Arvind Fashions Limited. This counter after some rangebound action since Oct 2026 declined into key support zones around 70. We can observe that there are large body candles that are developing now indicating that the buying interest is now building up and prices could now travel to the next resistance zone around 90. The demand at lower levels could play a part in containing the decline but the trends definitely look to be on the weaker side.
• Key metrics:
  • P/E Ratio : 28.89,
  • 52-week high: ₹551.45,
  • Volume: 4.68M
• Technical analysis: Support at ₹75, resistance at ₹85.
• Risk factors: Hazardous materials & safety exposures and heavy capital expenditure burden.
• Buy : above ₹81.80.
• Stop loss: ₹78.
• Target price: ₹88 (2 Months)

Stock market recap

Banking stocks continued to lead the rally, with Bank Nifty gaining nearly 1.8% and PSU banks outperforming on renewed buying interest. Auto stocks also remained in demand, with InterGlobe Aviation and Mahindra & Mahindra emerging among the top gainers.

In contrast, profit-booking was visible in select IT counters, with Tech Mahindra, TCS, and other technology names underperforming despite the positive market environment. Broad-based buying in financials, automobiles, and capital goods provided the necessary support to offset weakness in technology stocks.

Outlook for trading

Investor sentiment was boosted by falling crude prices, continued foreign institutional buying, and improving confidence in the domestic growth outlook. Technically, Nifty maintained its breakout above the psychological 25,000 mark, reinforcing the bullish undertone. While momentum remains strong, elevated RSI readings suggest the possibility of short-term consolidation. Immediate support is seen near 25,000, while resistance lies in the 25,400–25,500 zone. Overall, the market structure remains positive, with buy-on-dips continuing to be the preferred strategy as long as key support levels hold.

A strong follow-through on the Nifty did produce a robust start on the Wednesday morning only to witness some profit booking that dragged down the prices eventually. With the demand continuing to emerge at lower levels we saw the intraday rebound to push the prices again towards the high. Immediate support can now be revised to 24,800, while resistance is seen first around the 25800 zone. Overall, the market appears to be consolidating after a strong rally, with banking stocks providing leadership while investors selectively book profits in sectors that have outperformed in recent weeks.

Market continued to hold on to the high momentum, such readings are common during strong trending phases and do not necessarily signal an immediate reversal. Immediate support near 25200 mentioned in the earlier letter came to aid as market is showing some recovery from those zones. With a Buy on Dip market underway one should be looking to remain a Buyer.

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.