On October 30, equity benchmarks experienced a setback, closing 0.7% lower amid a subdued market breadth. Out of the total shares traded on the NSE, approximately 1,682 stocks faced selling pressure, while only 1,128 stocks advanced. This market dynamic indicates a cautious sentiment among investors, leading to expectations of further consolidation in the near term as the market navigates a range-bound trading environment. Amid this backdrop, several trading opportunities have emerged, particularly for stocks like Tata Power Company, Bharat Heavy Electricals (BHEL), and Brigade Enterprises.

For Tata Power Company, currently priced at Rs 409.8, a significant breakout has occurred above a resistance trendline that has been in place since November 2024. This breakout, confirmed by a notable surge in trading volume, suggests growing investor interest. The stock is positioned with strong support in the Rs 391–394 range, where essential exponential moving averages (EMAs) converge. Traders are advised to consider buying on dips in the Rs 403–405 range, targeting upward price levels of Rs 422 and Rs 435, while maintaining a stop-loss at Rs 391.

BHEL, trading at Rs 261.3, has also shown promising signs after breaking out from a consolidation pattern established in July 2025. This movement is supported by substantial volume and a bullish candlestick pattern, indicating potential for continued upward momentum. With the stock trading above all key EMAs and positive signals from momentum indicators, traders are encouraged to adopt a buying strategy, aiming for targets of Rs 272 and Rs 288, with a stop-loss at Rs 234. Brigade Enterprises, currently at Rs 1,038.9, has exhibited a trend reversal after a significant correction, forming a double bottom pattern and reclaiming its 200-day EMA, which further emphasizes a bullish outlook in the current market climate.