Raja Venkatraman recommends three stocks for 15 October

Why it’s recommended: FirstCry (legally known as Brainbees Solutions Limited) is India's largest omnichannel retail platform for mothers, babies, and kids' products. There has been steady decline since last one year. However, as the markets are now showing some signs of revival the stock is also bottoming out making a double bottom. A small hint at a potential upmove that could unfold in the coming days. Look for initiating a buy.

Key metrics:

P/E Ratio : 74.55,

52-week high: ₹369.65,

Volume: 1.92M.

Technical analysis: Support at ₹1020, resistance at ₹1300.

Risk factors: State-Controlled Pricing & Taxation and input cost pressure.

Buy : above ₹183

Stop loss: ₹175

Target price: ₹201 (2 Months)

Stock market recap

The broader chart shows Nifty struggling to sustain above 22,700, with momentum indicators like RSI hovering near 43, suggesting subdued strength and limited conviction among buyers.

Recent sessions have highlighted sectoral divergence. IT stocks staged a strong rebound earlier in the week, driven by earnings optimism, while banking and realty indices provided support. However, metals, pharma, and PSU banks have remained under pressure, keeping benchmarks capped. Small-cap indices continue to outperform, signaling selective risk appetite despite headline weakness.

Macro concerns persist, with crude oil prices elevated above USD 104 per barrel and retail inflation at 5.54 percent, raising caution over margins and policy flexibility. The rupee has extended its rebound, aided by RBI’s intervention, but global cues remain mixed.

Outlook for trading

Hesitation continues to be one of the key dominating emotion that curbs the strong resolve to move higher. As the trends attempt to hold over the next few days the long body candle revival has once again assured that the trends are beginning to take shape as a steady buying participation was witnessed through the day! The rupee has begun to cool off as global markets are now getting settled with the volatility after the central bank tightened the screws on speculative bets against the currency, putting it on track for its best single-day gain in a while, when policymakers had also resorted to extraordinary measures to stabilise it.

From a technical perspective, Nifty remains in a consolidation phase after recent volatility. The index closed at 22,622, slipping 0.44%, and continues to oscillate within a broad 22,450–22,900 band. Price action shows repeated attempts to reclaim 22,700, but selling pressure near resistance has capped upside momentum. The candlestick structure reflects indecision, with intraday recoveries failing to sustain into the close.

Overall, the market is consolidating within a 22,450–22,900 band, with momentum yet to confirm a decisive breakout. Traders remain watchful of earnings flows and global developments to gauge near-term direction.

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Raja Venkatraman

Raja Venkatraman is the co-founder of NeoTrader, where he heads the training division. He conducts both offline and live market workshops, seminars, and webinars. He has been working under the guidance of Dr C K Narayan, his mentor and founder of Growth Avenues, for more than 20 years. He is an active trader in multiple asset classes, and actively shares his views on YouTube, blogs at NeoTrader, and on reputed news channels and websites. His Sebi-registered research analyst registration no. is INH000016223.