From mint · Raja Venkatraman · · 1m 40s
Raja Venkatraman's Top 3 Stocks for 16 October
Raja Venkatraman recommends HCLTECH, ANANDRATHI, and SUPREMEIND for 16 October trading.
In brief
Raja Venkatraman recommends HCLTECH, ANANDRATHI, and SUPREMEIND for 16 October trading. Raja Venkatraman advises buying HCLTECH above ₹1365, ANANDRATHI above ₹2150, and SUPREMEIND above ₹3620 with specific targets and stop losses. Originally reported by mint.
Quick answers
- Why HCLTECH?
- HCLTECH is a leading Indian IT services company with stable Q2 numbers and strong buying interest from RSI support.
- Why ANANDRATHI?
- Anand Rathi Group shows steady revival after consolidation with strong demand and RSI support.
- Why SUPREMEIND?
- Supreme Industries Limited is India's largest plastic manufacturer showing signs of a potential upmove after consolidation.
- What is the key takeaway from Raja Venkatraman's Top 3 Stocks for 16 October?
- Raja Venkatraman advises buying HCLTECH above ₹1365, ANANDRATHI above ₹2150, and SUPREMEIND above ₹3620 with specific targets and stop losses.
Market Rebound on 15 October
Indian equities rebounded sharply on 15 October 2026 with Sensex surging 1,400 points to 74,144 and Nifty 50 climbing 400 points to 23,001.
HCLTECH Recommendation
Buy HCLTECH above ₹1365 with stop loss at ₹1290 and target ₹1495 over two months.
Why HCLTECH?
HCLTECH is a leading Indian IT services company with stable Q2 numbers and strong buying interest from RSI support.
ANANDRATHI Recommendation
Buy ANANDRATHI above ₹2150 with stop loss at ₹2060 and target ₹2350 over two months.
Why ANANDRATHI?
Anand Rathi Group shows steady revival after consolidation with strong demand and RSI support.
SUPREMEIND Recommendation
Buy SUPRE: above ₹3620 with stop loss at ₹3490 and target ₹3960 over two months.
Why SUPREMEIND?
Supreme Industries Limited is India's largest plastic manufacturer showing signs of a potential upmove after consolidation.
Market Recap
The rally was led by blue-chip stocks like Bharti Airtel, ICICI Bank, HDFC Bank, Reliance, Infosys, and TCS amid improved valuations.
Global Cues
Sharp declines in South Korea’s Kospi (-8%) and Taiwan’s Weighted Index (-4%) provided positive signals for Indian equities.
Outlook for Trading
Markets remain volatile with bullish signs emerging but challenges to sustain momentum for Nifty levels.
Key Risk Factors
HCLTECH faces geographic concentration, AI productivity deflation, and wage inflation risks.
What Happens Next
Nifty could target 23,500 if it breaks 23,100, with 23,000 as a potential support zone for recovery.
The big picture
Raja Venkatraman advises buying HCLTECH above ₹1365, ANANDRATHI above ₹2150, and SUPREMEIND above ₹3620 with specific targets and stop losses.
