Raja Venkatraman Highlights Three Stocks for October 8 Trading

Raja Venkatraman, co-founder of NeoTrader and a seasoned market analyst, has outlined three promising stock picks for traders to watch on October 8. His selections come amid a cautious market environment following the Reserve Bank of India's recent monetary policy update.

On October 7, 2026, Indian equity markets experienced a downturn. The Reserve Bank of India raised the repo rate by 25 basis points to 5.50% and signaled a move toward calibrated tightening. This announcement dampened investor sentiment, leading to a decline in major indices. The Nifty 50 closed at 22,603.05, down 173 points or 0.76%, while the Sensex finished at 72,638.70, slipping 429 points or 0.59%. Selling pressure was broad-based, with sectors such as autos, metals, IT, FMCG, and realty facing notable declines. Conversely, media, PSU banks, and private banks posted modest gains. Noteworthy performers included Kotak Bank, Bharti Airtel, ICICI Bank, HDFC Life, and Coal India, while Titan, Hindalco, JSW Steel, and Adani Enterprises were among the laggards. The Indian rupee weakened to 96.77 against the US dollar, reaching a five-month low. Brent crude oil prices hovered above $101 per barrel, adding inflation concerns.

Venkatraman emphasized that the market's current volatility is challenging, with indices trapped in a consolidation phase. He pointed out key resistance and support levels that have been limiting upward momentum. Technical indicators such as the Heikin Ashi candlestick chart and the Relative Strength Index (RSI) suggest the market may continue to trade within a range, particularly between 22,200 and 23,100 on the Nifty. The presence of resistance zones near recent gaps is likely to keep the market range-bound in the short term. Until the lows from the previous Thursday are decisively broken, he recommends a cautious approach to market participation.

Despite the broader uncertainty, Venkatraman identifies opportunities in mid- and small-cap stocks. He highlights three specific shares showing technical promise for multi-day trading strategies:

• Aegis Logistics Limited (Current Price: ₹1460.20)
  Aegis Logistics is a leading integrated player in India's oil, gas, and chemical logistics industry. Since mid-July, the stock has undergone consolidation with intermittent profit booking. Recently, it has found support near key technical lines such as the Tenkan Sen and Kijun Sen, followed by a strong upward thrust from lower levels. The RSI has rebounded strongly from the 50 mark, indicating potential for a sustained rally. Venkatraman suggests buying the stock above ₹1465 with a stop loss at ₹1380 and a target price of ₹1600 over a two-month horizon. The stock’s P/E ratio is 40.40, and it recently touched a 52-week high of ₹1528. Key risks include short-term volatility, fluctuations in international LPG and crude oil prices, and possible changes in regulations or import duties.
• CleanMax (Current Price: ₹1388.50)
  Though specific technical details were not provided, CleanMax is listed as a recommended buy above ₹1390, with a stop loss placed at ₹1320 and a target set at ₹1525. The pick aligns with the growing interest in renewable energy and clean infrastructure sectors, which have been attracting investor attention.
• LG Electronics India Limited (Current Price: ₹1780.30)
  LG Electronics India operates in the consumer electronics and home appliances segment. After a period of consolidation, the stock has shown signs of recovery since July 2026, coinciding with a revival in the consumer sector. The RSI indicates that prices are rebounding from a neutral zone, supported by improving market conditions, suggesting an upward trend. Venkatraman recommends entering a long position above ₹1785, with a stop loss at ₹1690 and a target price of ₹1950 over two months. The stock’s P/E ratio stands at 63.33, with a 52-week high near ₹1749. Risks include heavy dependence on the South Korean parent company for technology, contingent royalty liabilities, and sensitivity to foreign exchange fluctuations.

Venkatraman’s analysis underscores the importance of disciplined trading strategies and risk management in the current market environment. He advises investors to monitor key technical levels closely and adopt a measured approach amid ongoing global uncertainties and domestic market pressures.

NeoTrader, co-founded by Venkatraman, is known for providing training and market insights through workshops, webinars, and online content. Venkatraman himself has over two decades of experience in trading and analysis under the mentorship of Dr. C K Narayan, founder of Growth Avenues. His registered research analyst number is INH000016223.

Investors are reminded that investments in securities carry risks. It is advisable to consult certified financial experts before making investment decisions. The opinions expressed here are those of the analyst and do not necessarily reflect the views of the publishing platform.