Indian equities staged a sharp rebound on October 15, 2026, with benchmarks surging over 1% each while mid- and small-cap indices lagged. According to reports from Mint, the Sensex jumped nearly 1,400 points to an intraday high of 74,144, and the Nifty 50 climbed close to 400 points to touch 23,001. Market expert Raja Venkatraman from NeoTrader has identified three stocks for trading on October 16, focusing on IT, financial services, and manufacturing sectors.
HCLTECH is recommended as a buy above ₹1,365 with a stop loss at ₹1,290 and target price of ₹1,495 for a multiday trade. As reported by Mint, the IT services company has been in revival mode since July 2026, with stable Q2 numbers supporting price recovery. The stock shows strong buying interest with support from Relative Strength Index (RSI) and value support region indicating potential upmove. Key metrics include P/E ratio of 27.59, 52-week high of ₹1,770, and volume of 8 million.
Anand Rathi is recommended as a buy above ₹2,150 with stop loss at ₹2,060 and target price of ₹2,350 for a multiday trade. According to Mint, the financial services firm has experienced consolidation followed by a rebound from Kumo cloud region after negative results were priced in. The stock shows steady revival with strong demand support and RSI indicating upward drive continuation. Key metrics include P/E ratio of 78.43, 52-week high of ₹2,267, and volume of 37.46 million.
Supreme Industries Limited is recommended as a buy above ₹3,620 with stop loss at ₹3,490 and target price of ₹3,960 for a multiday trade. As reported by Mint, the plastic manufacturer has been consolidating for six months with accumulation happening, showing potential revival signs. The stock is bottoming out with double bottom formation indicating possible upmove. Key metrics include P/E ratio of 74.55, 52-week high of ₹369.65, and volume of 206.96K.
According to Mint, the rally was led by blue-chip stocks including Bharti Airtel, ICICI Bank, HDFC Bank, Reliance, Infosys, and TCS. Global cues played a role with sharp declines in South Korea's Kospi (-8%) and Taiwan's Weighted Index (-4%) as AI-driven rally exhaustion benefited India. TCS and HCL Tech delivered better-than-expected Q2 results, fueling a 9% surge in the Nifty IT index over three sessions. The Nifty 50 closed at 22,622.70 on October 14, with resistance at 22,700 to 22,850 and support at 22,300 to 22,400. GIFT Nifty indicated a flat to weak start making breakout trades more challenging.
