Raja Venkatraman recommends three stocks for 30 October

A sigh of relief as the bullish bias returned albeit on the last trading day of the week thus making everyone suspect the future course of action. Currently the trends are showing some solidarity and responding to the news flow. The forthcoming week will be of high importance as the decoding of the newsflow shall emerge.

Indian equity markets staged a strong rebound on October 29, 2026, recovering from the previous session’s weakness as improved global sentiment, easing crude oil prices, and renewed institutional buying boosted investor risk appetite. The Nifty 50 climbed over 1% to close above the crucial 22,900 mark at 22,936.75, while the Sensex surged 905 points to settle at 74,151.04.

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

ZENSARTECH (Cmp 537.30)

ZENSARTECH: Buy above ₹540, stop ₹515 target ₹605 (Multiday)

• Why it’s recommended:Zensar Technologies Limited (ZENSARTECH) is a leading public Indian information technology (IT) services and digital solutions company. Post a volatile phase from July 2026 the stock is now witnessing a revival from deep oversold levels. With a positive newsflow about its acquisition we can see the strong thrust in the momentum. As Tenkan Sen and Kijun Sen acts as a strong set of supports with support from Relative Strength Index(RSI) could help the prices rebound. Go long.
• Key metrics:
  • P/E Ratio : 17.55,
  • 52-week high: ₹813.40
  • Volume: 488.81K
• Technical analysis: Support at ₹485, resistance at ₹620.
• Risk factors: Risks inherent to global maritime trade, asset cycles, and geopolitical tensions.
• Buy : above ₹540.
• Stop loss: ₹515.
• Target price: ₹605 (2 Months)

BLUESTARCO (Cmp 1673)

BLUESTARCO: Buy above ₹1675, stop ₹1590 target ₹1850 (Multiday)

• Why it’s recommended : Blue Star Ltd is a leading Indian multinational headquartered in Mumbai, specializing in air conditioning, commercial refrigeration, and MEP (Mechanical, Electrical, Plumbing, and Fire-fighting) contracting. The prices have been continuously taking support at 1550-1580 zone and has now formed a double bottom. The durable bottom has initiated some strong buying over the last few days. With recent value area resistance around 1700 exceeded we can now look for prices driving higher. Now with the Relative Strength Index shows that the prices have moved beyond important threshold showing signs of recovery has seen a swift upside indicating some upward trajectory. Look to go long.
• Key metrics:
  • P/E Ratio : 99.27,
  • 52-week high: ₹2029.90,
  • Volume: 626.01K.
• Technical analysis: Support at ₹1600, resistance at ₹1950.
• Risk factors: Input-cost inflation driven by geopolitical supply-chain issues, seasonality of cooling products, and intense competition.
• Buy : above ₹1675
• Stop loss: ₹1590.
• Target price: ₹1850 (2 Months)

DLF (Cmp 694.35)

DLF: Buy above ₹697, stop ₹660 target ₹770 (Multiday)

• Why it’s recommended:⁠ DLF isIndia's largest publicly listed real estate company building residential homes, large office parks, and shopping malls, shaping major urban areas like Gurugram and Delhi. After testing important resistance zones around 680 the prices have finally given a closing above it with a long body candle suggesting a strong bullish bias. We can see now that the strong thrust on the back of volumes can augur well for the prices. With the prices are reflecting a sustained buying and the Real Estate sector showing strong resilience we consider going long.
• Key metrics:
  • P/E: 48.84,
  • 52-week high: ₹784.65,
  • Volume: 2.92M.
• Technical analysis: Support at ₹625, resistance at ₹850.
• Risk factors: Unsecured portfolio expansion,elevated credit costs and lower casa ratio compared to peers.
• Buy : above ₹697.
• Stop loss: ₹660.
• Target price: ₹770 (2 Months)

Stock market recap

Market breadth improved significantly, with gains spreading across large-cap, mid-cap, and small-cap segments and reflecting broader participation in the recovery. The rally was led by FMCG, financials, power, realty, and IT stocks, with Adani Ports, Kotak Mahindra Bank, Power Grid, Bajaj Finance, and Infosys among the notable gainers. Investor sentiment was supported by the US Federal Reserve’s decision to hold interest rates steady, a modest cooling in crude oil prices, and continued buying by both foreign and domestic institutional investors.

Outlook for trading

In the last week the market was threatening us with a possible changing pattern- it had more consecutive lower lows for the first time since the April lows. But it managed to save itself the blushes by turning around briskly and then proceeding to punch higher towards 23800 which is an important support zone. But that too didn’t help much as those levels were not held either- and the Nifty came down to test lower levels. All this to-ing and fro-ing has only succeeded in creating a mess on the chart. There has been so much of small range volatility that it has been almost impossible to make out a trend over the past 3weeks. This can be seen on the chart attached.

But perhaps some solutions have finally emerged that can lend support to the next earnings season. While all of us await some encouraging triggers That ought to bring some relief because people will at least have something to concentrate on. For the past few weeks markets have been bereft of any specific news and hence tended to follow the moves overseas and suffered in turn.

Technically, the Nifty reclaimed the 22,800-resistance zone and closed near the day’s high, indicating renewed bullish momentum; the 22,700–22,800 region is now an important support area, while 23,100 is the next resistance level. Overall, the session reflected a meaningful improvement in sentiment, supported by healthier market breadth, earnings resilience, and improving institutional flows, although elevated crude prices and geopolitical uncertainties remain key risks going forward.

While short covering action could emerge, we need to be ready to scale as the market is currently in midst of some very heavy news flow and the volatile geopolitical tension will look to impact the sentiment. After a while some positive news flow is about to unveil keeping the shorts in check. Beyond 23100 Nifty will face a resistance around 23500 as mentioned on Friday , we need to see if the trends successfully moves beyond.

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.