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Venkatraman's Indian Stock Picks Carry Conflicting Bank Trade Levels

His Oct. 21 column gives two entry and stop pairs for Karur Vysya Bank, both with a ₹405 target.

Updated 2 min read
Commuters pass the National Stock Exchange building in Mumbai, India, on a cloudy morning. (AI-generated image / EconoTimes)
Commuters pass the National Stock Exchange building in Mumbai, India, on a cloudy morning. (AI-generated image / EconoTimes)

In a Mint column, NeoTrader co-founder Raja Venkatraman set out three Indian stock trades for Oct. 21, but conflicting Karur Vysya Bank Limited levels leave that part of the plan unverified.

The bank recommendation carries two different price thresholds. One puts the entry above ₹370 and the stop at ₹353; another places the entry above ₹345 and the stop at ₹330. Both specify a ₹405 target. The column lists both pairs but does not reconcile the difference.

The column's bank reference figures present a separate discrepancy. It lists the shares at ₹345, while the National Stock Exchange of India (NSE) recorded a ₹370.05 close on Oct. 19. The column gives a 52-week high of ₹365.85; the exchange recorded ₹376.25 for Oct. 19.

For Leela Palaces Hotels & Resorts Limited, Venkatraman proposed an entry above ₹623, a ₹593 stop and a ₹690 target. He gave HFCL Limited an entry above ₹270, a ₹258 stop and a ₹299 target. Those targets are his technical assessments, not guidance from either company.

The calls followed an Oct. 19 decline in the Nifty 50, which closed at 22,888.95, down 257.20 points, or 1.11%. Venkatraman described the broader market outlook as cautious and identified 23,500 points as an index resistance level. That level is his assessment, not an exchange finding.

Both Leela and HFCL reported results for the quarter ended Sept. 30. Leela said operating revenue rose 33% from a year earlier to ₹4,119 million. HFCL reported consolidated revenue from operations of ₹2,541.79 crore and total profit of ₹394.22 crore.

The NSE's Dussehra equities closure on Oct. 20 left Oct. 21 as the next scheduled trading session.

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