Stock recommendations: Raja Venkatraman picks these three stocks for Tuesday—4 February

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Subscribe to enjoy similar stories. On 3 February, Trump triggered a worldwide panic, and the knee-jerk reaction caught traders as well as investors by surprise before they got positive about the Budget cues. We had mentioned recently that historically, the last three budgets have resulted in a negative closing, and this came true on Monday as a weak opening set the tone for the big event ahead of the RBI policy at the end of the week.

Looking at the current scenario, it would be prudent to expect a toned-down participation in the days ahead. However, multiple triggers are emerging, and the random events that are triggering the sentiment are pouring cold water on the encouraging vibes that got set off on the Budget day. Also Read: Short circuit: Foreign investors likely to press the sell button this week As the steps ahead are clearly again getting into a tangle, it's best to reduce participation and await clarity as the broader indices remain pressured.

Global cues will try to dictate the trends, and the impact on the currency, as we have discussed earlier, shall play a part in the trends this week. We decided to step on the other side and see what we need to consider now to get our perspective in order. On higher timeframe charts, we observe that dollar-rupee has moved sharply above the consolidation, we are noting a long body candle pattern on the weekly charts that is intending to accentuate the bearish bias.

This has created some hesitation; hence, we need to move ahead with some caution as we encounter a tense trading week. The option data is hinting at 23500, seeing some strong call writing that played a part in holding back the bullish exuberance. As the trends are clearly not stable one needs to watch out for