Market Expert Raja Venkatraman Recommends Three Stocks for 2 February Trading
Renowned market analyst and NeoTrader co-founder Raja Venkatraman has shared his exclusive stock picks for trading on 2 February 2026. This comes against the backdrop of significant market volatility following the presentation of the Union Budget, which triggered a sharp decline in Indian equity indices.
Market Context: Post-Budget Volatility Creates Trading Opportunities
The Indian stock market experienced substantial pressure on Sunday, 1 February 2026, after the finance minister presented her ninth consecutive budget. The benchmark indices witnessed a pronounced downturn, with the Sensex closing 1,546.84 points lower at 80,722.94. Similarly, the Nifty shed 495.20 points to settle at 24,825.45, reflecting a decline of nearly 2%.
Market breadth remained negative throughout the session, with 2,299 shares declining against 1,673 advancing and 155 remaining unchanged. Sectoral performance was largely weak, with metals, PSU banks, oil & gas, and capital goods witnessing steep declines. Only the IT sector managed to post gains, while broader markets also came under pressure, with the Nifty Midcap index falling 2.2% and the Smallcap index losing 2.8%.
Raja Venkatraman's Three Stock Recommendations
Despite the challenging market environment, Venkatraman has identified three stocks that present potential trading opportunities based on technical analysis and fundamental factors.
MTARTECH (Current Market Price: ₹3,086.20)
Why it's recommended: MTAR Technologies Ltd stands as a leading Indian precision engineering company specializing in mission-critical components for space, nuclear, defence, and clean energy sectors. The stock recently reached a new all-time high of ₹3,148.90 on 1 February 2026, following record-breaking Q3 financial results. Technical analysis indicates that the revival has surpassed the cloud region, with strong upside momentum emerging in the last trading session.
Key metrics:
- P/E Ratio: 141.61
- 52-week high: ₹3,078
- Volume: 2.15 million
Technical analysis: Support at ₹350, resistance at ₹450.
Risk factors: High dependency on major clients, potential revenue impact from budget changes.
Trading strategy: Buy above ₹3,090 with stop loss at ₹3,040 and target price of ₹3,215 (2-month horizon).
VTL (Current Market Price: ₹452.20)
Why it's recommended: Vardhman Textiles Limited represents one of India's largest vertically integrated textile manufacturers, producing diverse products including yarn, fabric, sewing thread, and garments. Robust Q3 performance has ensured that recent highs are maintained, with emerging dips potentially staging a sharp revival leading to strong upward traction. The long body candle observed on Sunday despite large-scale volatility suggests potential for higher levels.
Key metrics:
- P/E Ratio: 16.11
- 52-week high: ₹4,170
- Volume: 1.59 million
Technical analysis: Support at ₹400, resistance at ₹540.
Risk factors: Raw material price volatility, foreign exchange fluctuations, inherent industry competition and cyclicality.
Trading strategy: Buy above ₹454 with stop loss at ₹438 and target price of ₹525 (2-month horizon).
DELHIVERY (Current Market Price: ₹436.80)
Why it's recommended: Delhivery Ltd operates as India's largest fully integrated logistics and supply chain services provider, headquartered in Gurugram, Haryana. After experiencing a steep selloff, the stock shows signs of revival. Intraday charts suggest emerging trends could shape up with new projects, while steady support from ADX and DMI indicators fuels upside potential. The budget announcements could provide additional momentum, with volume surge hinting at potential upward traction.
Key metrics:
- P/E Ratio: 136.94
- 52-week high: ₹490
- Volume: 9.8 million
Technical analysis: Support at ₹400, resistance at ₹525.
Risk factors: Fragmented market, reliance on network infrastructure, challenges in controlling operating costs, and volatile financial performance.
Trading strategy: Buy above ₹441 with stop loss at ₹425 and target price of ₹481.
Market Outlook and Trading Considerations
Technical analysis suggests that current market trends remain largely oriented toward trading rather than investing. Daily charts indicate that the rally into the cloud region has restricted the rise, with trends appearing muted and potentially tiring. The uncertain closing observed in Nifty's daily chart during the September series doesn't bode well for market sentiment.
While volatility was anticipated, its extent surprised market participants, clearly establishing disappointment among investors. The emerging trend suggests that Sunday's decline is now encountering the support zone. The entire month of January has been spent in descending mode, preparing market participants for a volatile Budget day.
For Nifty to retain bullish bias, it needs to sustain above 25,100 (Nifty Spot). Momentum on hourly charts indicates continued price pressure, with potential resumption of selling pressure if 25,000 is breached. For undertaking short positions, Nifty needs to move below 24,500 for further drop toward 24,000, as Open Interest data suggests sharp falls once key support levels break.
With Nifty closing near the Max Pain at 25,000, traders should approach this week cautiously. If a 30-minute range break occurs on Thursday, trading on either side could be considered as trends remain tentative. In the current ranging market environment, quick profit-taking is advisable as trends lack sufficient steam to move strongly in either direction.
Option data readings suggest that PCR has steadied at 0.89, highlighting support at lower levels. Steady Call writing at 25,000 levels continues to provide resistance that contains buying interest for recovery, creating interesting developing trends.
Important Disclaimer: Raja Venkatraman is co-founder of NeoTrader with SEBI-registered research analyst registration number INH000016223. Investments in securities are subject to market risks. Registration granted by SEBI and certification from NISM in no way guarantees performance of the intermediary or provides any assurance of returns to investors. The views and recommendations given in this article are those of individual analysts and do not represent the views of Mint. Investors are advised to consult certified experts before making any investment decisions.
