Mint’s Oct. 23 column by NeoTrader co-founder Raja Venkatraman offered three Indian stock setups, including a sell recommendation, despite a headline referring to two picks.
For The Indian Hotels Company Ltd., Venkatraman set a buy trigger above ₹785, with a ₹750 stop-loss and an ₹855 target. His CRISIL Ltd. setup called for a buy above ₹4,780, with a ₹4,550 stop-loss and a ₹5,280 target.
The Colgate-Palmolive (India) Ltd. call was to sell below ₹1,675, with a ₹1,735 stop-loss and a ₹1,550 target. The two buy calls were conditioned on prices moving above their trigger levels; the Colgate-Palmolive call depended on a move below its threshold. Each setup paired its trigger with a stop-loss and a target price.
Venkatraman tied the Indian Hotels call to a retreat toward a chart level he considered support. He said buyers appeared as CRISIL traded lower, while he read Colgate-Palmolive’s chart as showing sellers gaining ground. He also wrote, “Market direction remains completely unclear.”
Mint tagged each setup “Multiday” but also gave each a two-month target horizon. The column did not explain how the two time frames fit together.
The Oct. 23 recommendations followed another set of Venkatraman calls for the previous day, including a Cochin Shipyard trade. EconoTimes previously examined the gap between that sell trigger and the stock’s prior close.
Indian benchmarks had closed lower on Oct. 22. The Nifty 50 lost 123.70 points, or 0.54%, to 22,687.65, while the Sensex fell 460.30 points, or 0.62%, to 73,249.39. Press Trust of India (PTI) and Business Standard reported those closing levels. PTI attributed the decline to rising crude oil prices, tensions in West Asia and weak global cues.
