Raja Venkatraman recommends three stocks for 5 November

The week began on a strong note, with the market displaying renewed strength and signaling the potential for further upside. However, the key resistance levels highlighted earlier remain critical, as they are likely to determine the market's next directional move.

On 4 November 2026, Indian equity markets extended their winning streak for the fifth consecutive session, supported by broad-based buying, easing crude oil prices, and sustained foreign institutional inflows. The Sensex advanced 383.55 points or 0.50% to close at 77,301.40, while the Nifty gained 149.75 points or 0.63% to settle at 23,960.60, ending near the psychological 24,000 mark.

Despite mixed global cues and early profit-booking pressure, markets recovered strongly through the session, reflecting continued investor confidence.

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

AUROPHARMA (Cmp 1705)

AUROPHARMA: Buy above ₹1720, stop ₹1620 target ₹1875 (Multiday)

ADANIPORTS (Cmp 1910.80)

ADANIPORTS: Buy above ₹1915, stop ₹1800 target ₹2130 (Multiday)

• Why it’s recommended : Adani Ports and Special Economic Zone Limited (APSEZ) is India's largest private port operator and an integrated transport utility company part of the Adani Group. After a some major consolidation from May 2026 the prices have been recovering from lower levels forming a rounding pattern. The Q2 results have been absorbed and is now showing some volume led surge we can see the prices scaling higher . The long body candles coupled with some strong participation has seen it form a new high. Now with the Relative Strength Index shows that the prices have moved beyond important threshold , go long.
• Key metrics:
  • P/E Ratio : 147.25,
  • 52-week high: ₹1921.30,
  • Volume: 4.45M
• Technical analysis: Support at ₹1600, resistance at ₹2200.
• Risk factors: Regulatory shifts, credit and asset quality management, liquidity pressures, and digital operational challenges.
• Buy : above ₹1915
• Stop loss: ₹1800.
• Target price: ₹2130 (2 Months)

SHRIRAMFIN (Cmp 908.75)

SHRIRAMFIN: Buy above ₹911, stop ₹850 target ₹1000 (Multiday)

• Why it’s recommended: Shriram Finance Limited is one of India's largest retail non-banking financial companies (NBFCs) and the flagship financial services arm of the Shriram Group. The formation of a long body candle after a period of consolidation giving a breakout augurs well for the prices in the counter over the next few days. Also, newsflow of some stake sale of Saudi Business has generated some strong buying at lower levels. Go Long.
• Key metrics:
  • P/E: 16.84,
  • 52-week high: ₹1153.65,
  • Volume: 6.03M
• Technical analysis: Support at ₹800, resistance at ₹1225.
• Risk factors: The risk stems from its specialized lending business model, which focuses on used commercial vehicles (CVs), MSMEs, and rural/semi-urban borrowers.
• Buy : above ₹911.
• Stop loss: ₹850.
• Target price: ₹1000 (2 Months)

Stock market recap

Market breadth remained positive, with midcap and smallcap indices outperforming the benchmarks. The Nifty MidCap 100 rose 1.55%, while the Nifty SmallCap 100 gained 2%, indicating healthy participation beyond large-cap stocks.

Sectorally, media, metals, realty, FMCG, and consumer durables led the rally, while IT remained the lone weak pocket as investors booked profits after the sector’s recent strong run.

Outlook for trading

The continued participation in Nifty has underlined the strong bullish sentiment that is currently forcing all the by-standers to join the festive cheer. We have been mentioning in the article for a while that the consolidation phase of the market is getting over and a close above 23100 could spell some positivity. The market ahs respected those levels and has been moving upwards ever since.

Markets welcomed the end of election uncertainty and saw Democratic control of Congress as likely to restrain fiscal spending and increase oversight of AI regulation. The event could cool growth and lessen the need for further Federal Reserve rate hikes, taking pressure off Treasury yields and the dollar.

On the charts, Nifty reclaimed moved well past the crucial 23,800 mark and closed near the day's high close to the psychological 24k zone, reflecting strong bullish momentum. The immediate support zone is now placed around 23,200–23,500, while the 23,800–23,900 region could act as a near-term resistance band. Overall, the session reinforced the positive undertone in the market, with improving liquidity, supportive earnings, and returning FII participation providing the foundation for continued strength, although investors remain watchful of global policy cues, geopolitical developments, and oil price movements.

The data remained the same as the cues from the Price Action and the Options data showed continued positivity. Also, the Relative Strength Index (RSI) is continued to stretch above the 60-mark highlighting the strong bullish sentiment. With continued bullish participation that saw a move of 1000 points in last 10 days has created a scenario for revival. As the surge is reflecting improving bullish momentum, we can say that the bullish signal is showing a strong signs of continuation.

A notable improvement in market structure is evident, supported by strengthening momentum and favorable price behaviour. The breakout above key levels has enhanced confidence in the sustainability of the upmove, suggesting that dips may find support from participants looking to accumulate. Unless momentum weakens materially, the market appears well-positioned for a continuation of the ongoing recovery phase.

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.