Indian Equity Markets Close Subdued; Analyst Recommends Trades in Delhivery, Phoenix Mills, Apollo Tyres

Indian equity markets closed on a subdued note on November 4th, with benchmark indices Nifty and Sensex declining. The Nifty fell 165.70 points to 25,597.65, and the Sensex shed 519.34 points to settle at 83,459.15. The market started positively but could not sustain early gains due to mixed global cues and profit-booking.

Three stocks have been recommended for trading by NeoTrader's Raja Venkatraman:

1. **DELHIVERY**: As India's largest integrated logistics provider, Delhivery is seen to be in a consolidation phase after recent profit booking. Strong buying thrust above recent highs suggests a turnaround. Recommendation is to go long, buy above ₹485, with a target price of ₹502 and stop loss at ₹476. Key metrics include a P/E of 234.66 and a 52-week high of ₹489.

2. **PHOENIX MILLS LTD**: This Indian real estate development company shows a steady upward price trend forming higher highs and higher lows. Strong Q2 performance supports prices holding above recent ranges. Recommendation is to go long, buy above ₹1770, with a target price of ₹1815 and stop loss at ₹1730. Key metrics include a P/E of 227.92 and a 52-week high of ₹1902.10.

3. **APOLLO TYRES LTD**: The tyre manufacturer has been steadily rising since August, forming a base around ₹500 and showing a rebound with positive volumes. Recommendation is to initiate a long position, buy above ₹524, with a target price of ₹514 and stop loss at ₹545. Key metrics include a P/E of 50.28 and a 52-week high of ₹557.15.

**Impact**: This news directly affects Indian stock market investors by providing a market recap and specific, actionable trading recommendations for three companies. This can influence trading decisions and potentially impact the stock prices of Delhivery Limited, Phoenix Mills Limited, and Apollo Tyres Limited. Rating: 7/10.

**Difficult Terms:** * **Benchmark indices**: These are stock market indexes like the Nifty and Sensex that represent the performance of a broad section of the stock market. * **Selling pressure**: This means many investors are selling their stocks, causing prices to decline. * **Consolidation mode**: When a stock's price trades within a limited range for some time, indicating a pause before a potential new trend emerges. * **Technical analysis**: A method used by traders to forecast future price movements by examining past trading activity and price changes, usually displayed on charts. * **Support**: A price level where a stock's price has historically found it difficult to fall below, often leading to a bounce back. * **Resistance**: A price level where a stock's price has historically found it difficult to rise above, often leading to a slowdown or reversal. * **P/E ratio (Price-to-Earnings ratio)**: A valuation measure that compares a company's stock price to its earnings per share. A higher P/E can indicate higher growth expectations. * **52-week high**: The highest price at which a stock has traded over the past year. * **Volume**: The total number of shares traded in a security or market during a given period. High volume often indicates strong interest. * **Higher high higher low**: A pattern seen in an uptrend where each successive price peak is higher than the previous one, and each successive trough is also higher than the previous one. * **TS & KS lines**: These are likely specific technical indicators used in charting software to analyze price trends and momentum, suggesting a positive signal when prices move above them. * **PCR (Put-Call Ratio)**: An indicator derived from options trading. A low ratio (below 1) can sometimes suggest bullish sentiment, indicating potential for a market rebound after heavy selling. * **Max Pain**: In options trading, it's the price level where options traders on average would experience the largest losses if the options expired at that price. It can sometimes influence market movement near expiry.