Stocks to buy: Raja Venkatraman's top picks for 4 November
Market expert Raja Venkatraman shares his top three stock picks to buy today, 4 November. Discover his exclusive picks and analysis to inform your investment strategy.
Despite the sharp fall, the market has been able to contain the extent of decline and the ability to revive from lower levels has kept the bullishness alive. As the market tries to recover from the sudden shock that we witnessed in the last two weeks, the question is how do we act on the trends.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
TATACONSUM (Cmp ₹1197.50)
- TATACONSUM: Buy above ₹1200, stop ₹1175 target ₹1245 (Intraday)
- Why it’s recommended: Tata Consumer Products Limited (TATACONSUM) is a major Indian fast-moving consumer goods (FMCG) company and part of the Tata Group. This counter been in a steady ascent since August 2025 and a rebound since October 2025 mid is suggesting a strong trend across multiple timeframes. The strong push in prices seen on Monday above the recent highs indicates that it is set for a turnaround. Go long.
- Key metrics:
P/E: 66.46,
52-week high: ₹1191.25,
Volume: 2.60M.
- Technical analysis: Support at ₹1161, resistance at ₹1250.
- Risk factors: Intense competition, reliance on key personnel, Global economic slowdowns and macroeconomic fluctuations.
- Buy: above ₹1200.
- Target price: ₹1245.
- Stop loss: ₹1175.
KALYANKJIL (Cmp ₹515.85)
- KALYANKJIL: Buy above ₹516, stop ₹504 target ₹528 (Intraday)
- Why it’s recommended: Kalyan Jewellers is one of India's largest and most trusted jewellery brands, engaged in the manufacture and retail of various gold, diamond, platinum, silver, and precious stone-studded jewellery products. As prices are holding on to the recent range the thrust above the recent consolidation augurs well for the prices. With momentum gathering pace we can look at the trends holding and galvanizing into a potential upward possibility in the next few weeks. Can look to go long.
- Key metrics:
P/E: 68.25,
52-week high: ₹794.60
Volume: 2.12M.
- Technical analysis: Support at ₹490, resistance at ₹540.
- Risk factors: Gold price volatility, intense competition, reliance on debt, and regulatory changes.
- Buy: above ₹516.
- Target price: ₹528.
- Stop loss: ₹504.
SCHNEIDER (Cmp ₹862.65)
- SCHNEIDER: Buy above ₹866, stop ₹848 target ₹896 (Intraday)
- Why it’s recommended: Schneider Electric is a French multinational company that specializes in energy management and automation solutions, with a significant presence in India. The prices have formed a base around the 800 levels and is now producing a rebound into the Ichimoku cloud region. With a positive turnaround emerging, we can look at some positive vibes to emerge.
- Key metrics:
P/E: 79.44,
52-week high: ₹1055,
Volume: 115.03K.
- Technical analysis: Support at ₹806, resistance at ₹920.
- Risk factors: Supplier retention , potential customer acquisition challenges, high interest rates and inflation.
- Buy : above ₹866.
- Target price: ₹848.
- Stop loss: ₹896.
Stock Market Recap
On 3 November 2025, Indian equities closed marginally higher, with broader indices outperforming the benchmarks. The BSE Midcap and Smallcap indices rose 0.6% and 0.7% respectively, reflecting investor preference for mid-tier stocks amid strong quarterly earnings. Sectorally, pharma, telecom, realty, and PSU banks gained 1–2%, with PSU banking continuing to attract interest due to robust earnings and improving asset quality. Nifty gainers included Shriram Finance, M&M, Apollo Hospitals, SBI, and Tata Consumer, while Maruti Suzuki, ITC, TCS, Bharat Electronics, and L&T saw declines.
Profit booking emerged at higher levels in the absence of fresh domestic catalysts, tempering headline gains. IT stocks underperformed, weighed down by diminishing hopes of a U.S. Fed rate cut. Meanwhile, easing tensions between the U.S. and China reduced demand for safe haven assets, subtly shifting investor sentiment toward riskier bets. Overall, the market reflected a cautious optimism, driven by earnings momentum and selective sectoral strength.
Outlook for Trading
Moving to the charts we note that the trends have been largely oriented towards trading rather than investing. Hence , from a trading perspective we can note that on the intraday charts the rally beyond the cloud region has met with some profit booking. The rends remain muted and is now attempting a revival while the sentiment remains bruised. The start of the week has been on an encouraging note on the Daily chart of Nifty in the November series.
The trend that is emerging clearly suggests that the rally seen in the last week is now taking a breather and the long body red candle formation has ensured that the profit booking at 25300 mark could continue.
Hence , one should track the trends that are in progress as upmove holds itself above 26100 (Nifty Spot) would extend the bullish bias. Momentums on intraday charts are indicating that the prices could witness a resumption of buying interest after the recent sell off. With the rise taking a breather, one needs to factor some additional triggers like newsflow or corporate action.
For undertaking shorts, we need to see Nifty move below 25650 for a potential drop towards 25500 as per the Open Interest data a sharp fall is expected once key resistance levels break. With the Nifty closing near the Max Pain at 25800 we should look to approach the upcoming sessions with a bullish bias.
If we witness a 30-minute range break on Tuesday we can consider trading on either side as the trends still remain tentative where we expect some resistances to kick in. As ranging market is in play, we need to be quick in profit taking as we the trend does not have sufficient steam to move strongly in either direction.
The readings from the Option Data suggests that PCR has moved to 0.77 ahead of expiry, highlighting that the trends are receiving resistance at higher levels with some steady Call writing at 26000 levels continues to prove to be a fuel that can prevent recovery.
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.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
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