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RBI policy did bring about a brief revival only to disappoint by the end of the day. The continued lack of clarity is now proving to be a challenge as far as the index trading is concerned. However, when we look at the overall trends, we now find that we could continue to participate in mid and small caps. On 7 October 2026, Indian equities slipped as investors turned cautious following the Reserve Bank of India’s 25 bps repo-rate hike to 5.50% and its shift towards calibrated tightening. The Nifty 50 closed at 22,603.05, down 173 points or 0.76%, while the Sensex ended at 72,638.70, losing 429 points or 0.59%. Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman: AEGISLOG (Cmp 1460.20) AEGISLOG: Buy above ₹1465, stop ₹1380 target ₹1600 (Multiday) - Why it’s recommended:Aegis Logistics Limited is India's leading integrated oil, gas, and chemical logistics company. Since mid-July the stock has spent lot of time consolidation marked by periodic profit booking. After prices taking supports at the Tenkan Sen and Kijun Sen we can see the a strong thrust from lower levels has been encouraging. A strong thrust always attract some buying interest. With the Relative Strength Index(RSI) showing a strong rebound from RSI 50 levels we note that the prices are seen crossing important thresholds, it can lead to some strong upward move in the coming weeks. Go long. - Key metrics: - P/E Ratio : 40.40, - 52-week high: ₹1528 - Volume: 1.71M - Technical analysis: Support at ₹1225, resistance at ₹1625. - Risk factors: High short-term share price volatility, international LPG and crude price fluctuations, and potential regulatory or import duty shifts. - Buy : above ₹1465. - Stop loss: ₹1380. - Target price: ₹1600 (2 Months) CLEANMAX (Cmp 1388.50) CLEANMAX: Buy above ₹1390, stop ₹1320 target ₹1525 (Multiday) LGEINDIA (Cmp 1780.30) LGEINDIA:Buy above ₹1785, stop ₹1690 target ₹1950 (Multiday) - Why it’s recommended :LG Electronics India Limited is a premier manufacturer and distributor in the consumer electronics and home appliances industry. After some consolidation the counter has shown some promise from July 2026 as Consumer sector has started reviving. The Relative Strength Index shows that the prices are reviving from neutral zone with support from the market showing signs of recovery has seen a swift upside indicating some upward trajectory. One can now look for some trends to carry the prices higher. - Key metrics: - P/E Ratio : 63.33, - 52-week high: ₹1749, - Volume: 371.60K. - Technical analysis: Support at ₹1450, resistance at ₹2000. - Risk factors: Heavy reliance on its South Korean parent for technology, significant unaccrued contingent liabilities related to royalty obligations, and vulnerability to foreign exchange rate fluctuations. - Buy : above ₹1785 - Stop loss: ₹1690 - Target price: ₹1950 (2 Months) Stock market recap Selling was broad-based, with autos, metals, IT, FMCG, and realty leading declines, while media, PSU banks, and private banks managed modest gains. Kotak Bank, Bharti Airtel, ICICI Bank, HDFC Life, and Coal India were among the top performers, whereas Titan, Hindalco, JSW Steel, and Adani Enterprises dragged. The rupee weakened to ₹96.77 per dollar, its lowest in five months, while Brent crude hovered above $101 per barrel, adding inflationary pressure. Analysts noted that indices are nearing key support zones, suggesting a buy-on-dips strategy in fundamentally strong names, though global headwinds and persistent FII selling continue to weigh on sentiment. Outlook for trading The tension is the air as markets fail to revive. The constant gyrations that we are witnessing in Nifty is taking its toll on the market. While its easier said than done, the challenge that we are witnessing is that the consolidation phase. A look at the charts below we can see that the play of resistance continues to hold its weight over the trends in the last few sessions as we near the very important force that will contain the upmove. The resistance and support zones over the last few days have been playing a crucial role in holding back any reaction. The formation of doji on the Heikin Ashi charts around the 22650 while the prices are attempting a recovery. While the trends remain fragile we need to step in and see how to address this scenario as the higher levels remain pressured. Looking at charts the Relative Strength Index some sideways action could continue on the Sensex expiry as well. While bias remains positive there are sill some shorts in the system in the wake of the recent decline the possibility of range bound action cannot be ruled out between 22200 and 23100 leading us to play a wide range. The resistances bunched up at the gap area in additional could play a part making the markets stay in a range-bound in the short term. In summary, until the last Thursday’s low is broken, we should remain limited in our participation. 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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