
Stocks to trade: Raja Venkatraman recommends 3 stocks for 16 April
Subscribe to enjoy similar stories.Weekly expiry hesitation has been laid to rest and a strong closing gives confidence that the recent highs would be surpassed. As the possibility of a new high emerges, the resistance at 24,300 is gradually weakening, making today a crucial session.BEML (Current price ₹1,711.60)Buy above ₹1715, stop ₹1640, target ₹1915 (multiday)⦁ Why it’s recommended: BEML Limited (formerly Bharat Earth Movers Limited), established in 1964, is a premier Indian PSU manufacturing heavy equipment for defence, mining, construction, and rail/metro sectors.
A rounding bottom pattern that formed after the recent decline has shown some strong upward thrust since the start of April 2026, generating some fresh bullish momentum. As the trends are seen holding above the gap region, the push could carry the prices higher.
The momentum is also seen reviving, ably supported by volumes inviting us to go long.⦁ Key metrics:⦁ P/E: 55.58,⦁ 52-week high: ₹2,437.4,⦁ Volume: 465.82K⦁ Technical analysis: Support at ₹1,600, resistance at ₹2,025.⦁ Risk factors: High earnings volatility and margin pressure, susceptibility to input price volatility is high and decision-making cycles can be slower compared to private sector competitors.⦁ Buy: above ₹1,715.⦁ Stop loss: ₹1640.⦁ Target price: ₹1,915 (2 Months) Buy above ₹1120, stop ₹1070, target ₹1225 (multiday)⦁ Why it’s recommended: DCM Shriram Ltd. is a leading Indian business conglomerate with a turnover of over ₹12,000 crore, operating diversified businesses in agribusiness.
After some sharp decline in February, the V-shaped recovery clearly highlights a strong buying that has emerged at lower levels. With a strong move above the value resistance area around ₹1,150, one can
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