Raja Venkatraman recommends three stocks for 16 July

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Continued volatility is taking its toll on the sentiment. With the bias oscillating quite viciously we need to stay light but keep participating as the trends are indicating a potential to the upside but is waiting for the right trigger.

Indian markets closed slightly higher on July 15, 2026, with financials leading the way despite global headwinds. The Nifty 50 edged up 0.11% to 24,078.50, while the Sensex gained 0.17% to 77,185.43, after both indices briefly rallied nearly 0.8% during the session.

INDUSTOWER: Buy above ₹407, stop ₹387 target ₹445 (Multiday)

GROWW:Buy above ₹217, stop ₹208 target ₹245 (Multiday)

BLUESTARCO:Buy above ₹1755, stop ₹1675 target ₹1900 (Multiday)

Investor sentiment was lifted by softer U.S. inflation data, which raised hopes of a gentler Federal Reserve stance, though rising crude prices and escalating U.S.–Iran tensions capped gains.

Financial stocks rebounded, with ICICI Prudential Life surging 3.8% on strong earnings, while HDFC Life and ICICI Lombard advanced ahead of their results. State-owned banks rose 1%, adding to the sector’s momentum. On the flip side, technology stocks dragged, as IBM’s weak forecast weighed on the IT index, and Tata Elxsi tumbled 4.8% after brokerages flagged margin concerns.

Analysts noted that India’s growth story remains intact, but a clear breakout depends on easing geopolitical risks and improved monsoon conditions.

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 charts around the 23,850 holding the 20 EMA is attempting to stage 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 Strenth 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 23,800 and 24,300 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 Wednesday’s range 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.

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 INH...