Trade Spotlight: How should you trade Sobha, IDBI Bank, Bharat Electronics, Suzlon Energy, Union Bank of India, BPCL, and others on November 3?

In the month of August 2025, Union Bank marked a low around the 61.8% Fibonacci retracement level of the previous rally (Rs 100–159) and rebounded sharply. In addition, it has also broken out past a five-month "down-sloping trendline" at Rs 144 levels along with huge volumes, which signals increased participation. The daily "Bollinger Band" buy signals signify increased momentum. The weekly and monthly strength indicator RSI indicates rising strength.

Strategy: Buy

Target: Rs 168, Rs 175

Stop-Loss: Rs 143

Suzlon Energy | CMP: Rs 59.3

With the current week’s strong gains, Suzlon Energy has decisively broken out of the down-sloping channel at Rs 57 levels, along with huge volumes, which signals rising participation at lower levels. The daily "Bollinger Band" buy signals signify increased momentum. The daily and weekly strength indicator RSI indicates rising strength.

Strategy: Buy

Target: Rs 65, Rs 70

Stop-Loss: Rs 57

Mangalore Refinery and Petrochemicals | CMP: Rs 166.4

With strong weekly price movement, MRPL has decisively surpassed the past two years' "down-sloping trendline" at Rs 156 levels on a closing basis. Over the past couple of months, huge volumes have signified increased participation. In addition, it has also broken out above multiple resistances at Rs 157 levels on a closing basis. The weekly and monthly strength indicator RSI indicates rising strength.

Strategy: Buy

Target: Rs 190, Rs 200

Stop-Loss: Rs 155

Rajesh Bhosale, Technical Analyst at Angel One

Bharat Electronics | CMP: Rs 426.1

The defence sector has been buzzing over the past few weeks, and within this space, BEL has clearly stood out as an outperformer. After a strong breakout in mid-October, the stock witnessed an initial rally followed by a brief consolidation phase.

On Friday, it resumed its upward momentum with robust volumes and a bullish candlestick formation. The price continues to trade well above key moving averages, while oscillators remain positively aligned — indicating that the outperformance is likely to persist.

Strategy: Buy

Target: Rs 462

Stop-Loss: Rs 408

IDBI Bank | CMP: Rs 103.8

IDBI Bank has posted its highest monthly close in 14 years, confirming a powerful breakout from a long-held resistance zone. Supported by rising volumes and a bullish candlestick setup, the momentum looks strong and broad-based.

With RSI readings above 60 across all time frames, sentiment remains firmly positive, making this stock an attractive bet for every kind of market participant — whether short-term trader, swing trader, or long-term investor.

Strategy: Buy

Target: Rs 118

Stop-Loss: Rs 97

Sobha | CMP: Rs 1,618.6

On the weekly chart, Sobha has broken out of a key trendline resistance formed by connecting lower tops from its all-time high. This breakout signals the end of a prolonged consolidation phase and sets the stage for a strong trending up-move ahead.

The price action remains well above major moving averages, reinforcing the bullish setup, while the RSI has shown a clear range shift, further confirming the potential for continued outperformance in this counter.

Strategy: Buy

Target: Rs 1,750

Stop-Loss: Rs 1,550

Anshul Jain, Head of Research at Lakshmishree Investments

Supriya Lifescience | CMP: Rs 776.9

Supriya Lifesciences has been consolidating for the past 234 days, forming a rounding base pattern on the charts. The breakout level for this structure is placed around Rs 810, and Friday’s strong bullish candle indicates the initial signs of a breakout.

Weekly momentum indicators such as RSI and moving averages are now aligned and acting as propellers for the next leg of the uptrend. If the stock sustains above Rs 810 with healthy volumes, it is likely to trigger a strong rally toward Rs 1,000 levels in the near term, marking the start of a fresh upward phase.

Strategy: Buy

Target: Rs 1,000

Stop-Loss: Rs 725

Bharat Petroleum Corporation | CMP: Rs 356.8

BPCL has broken out of a 291-day-long bullish cup and handle pattern on the daily charts with strong volumes, indicating institutional participation and momentum confirmation. The weekly moving averages are well aligned and will act as a propeller for the uptrend to sustain. The structure remains solid, with clear strength visible across time frames.

A sustained move and follow-through action above Rs 365 will open the gates for an initial rally toward Rs 425, followed by Rs 500 levels in the coming weeks. The stock looks well-positioned for a steady bullish phase ahead.

Strategy: Buy

Target: Rs 425, Rs 500

Stop-Loss: Rs 325

Latent View Analytics | CMP: Rs 448.35

Latent View Analytics is on the verge of a bullish breakout from an 82-day-long VCP (Volatility Contraction Pattern), with the breakout level placed around Rs 450. Friday’s strong volume candle indicates clear institutional participation and bullish intent. A decisive move and sustained trade above Rs 450 will confirm the breakout, setting up an immediate upside potential toward Rs 500–Rs 525 levels.

Both daily and weekly moving averages are bullishly aligned, supporting sustained momentum once the breakout is confirmed. The structure remains healthy and poised for a strong upside continuation.

Strategy: Buy

Target: Rs 525

Stop-Loss: Rs 420

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.