Raja Venkatraman recommends two stocks for 12 October
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Raja Venkatraman recommended Federal Bank and CPPLUS stocks for 12 October.
- ✓Indian equities navigated a volatile week from 5 to 9 October, with Sensex climbing 806 points on 9 October.
- ✓Analysts suggest buying Federal Bank above 331 and CPPLUS above 4190, as both stocks showed signs of a potential rebound.
Story at a Glance
- Category
- MARKET
- Reported By
- Livemint
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Stock market recap: Indian equities navigated a volatile week from 5 to 9 October, marked by alternating bouts of selling pressure and sharp recoveries. On 9 October, benchmarks staged a broad recovery, reversing most of Thursday’s losses. Short-covering in banking and IT stocks drove the advance, with Sensex climbing 806 points (1.13%) to 72,399.32 and Nifty surging 261 points (1.18%) to 22,493.15.
Why it’s recommended: Federal Bank Limited (FEDERALBNK) is a major Indian private sector commercial bank blending extensive technological adoption with physical customer service. Since August the stock is on a declining mode and after correcting by nearly 10% the stock has reached some important support region around 320. The revival seen from lower levels has been encouraging. A strong thrust always attract some buying interest and support from Relative Strength Index(RSI) could help the prices rebound. Go long.
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