The Nifty 50’s 2.4% advance on Nov. 5 preceded a new set of conditional trading levels from NeoTrader co-founder Raja Venkatraman for three Indian-listed companies.
In a signed column published by Mint on Nov. 6, Venkatraman gave entry thresholds, stop-loss levels and two-month targets for Black Box Limited (BBOX), Angel One Limited (ANGELONE) and Leela Palaces Hotels & Resorts Limited (THELEELA). The column listed reference prices of ₹856.85 for Black Box, ₹326.15 for Angel One and ₹689.75 for Leela Palaces.
For Black Box, Venkatraman set an entry threshold above ₹860, a stop at ₹820 and a target of ₹950. Angel One’s levels were above ₹328, ₹308 and ₹360, respectively; Leela Palaces’ were above ₹695, ₹655 and ₹765. Each entry threshold was above its listed reference price, while each stop-loss was below it. In the analyst’s plan, the stop-loss marked the price level for exiting the setup.
The National Stock Exchange of India (NSE) said the Nifty 50 closed Nov. 5 at 24,536.60, up 576 points, or 2.40%. Venkatraman identified 24,600–24,800 as resistance and 24,000–24,200 as immediate support. He said a sustained break above 24,800 could open a move toward 25,200–25,500. The close was below his resistance range and above his support range.
The column’s technical reasoning varied by company. It cited Relative Strength Index and Tenkan Sen/Kijun Sen levels for Black Box, a double-bottom pattern and directional indicator for Angel One, and the Average Directional Index for Leela Palaces. Mint said the recommendations reflected individual analysts’ views and warned that securities investments carry market risks.
EconoTimes previously covered Venkatraman’s Nov. 5 trading levels, another set of conditional calls from the NeoTrader co-founder.
