Stock market today: The Indian stock market crashed 1,400 points during the intraday session on Tuesday, April 1, rendering strong losses due to the heightened uncertainty over the upcoming reciprocal tariffs.
The Nifty 50 index closed 1.5 per cent lower at 23,165.70 points, compared to 23,519.35 points at the previous stock market close.
The BSE Sensex index closed 1.8 per cent lower at 76,024.51 points, compared to 77,414.92 points in the previous market session.
Global Markets
Wall Street opened higher on Tuesday amid worries about US President Donald Trump’s fresh tariff announcements on Wednesday, April 2. Donald Trump is expected to announce reciprocal tariffs on Wednesday, which he termed as the ‘Liberation Day’ for the United States.
The S&P 500 index closed 0.38 per cent higher at 5,633.07 points, compared to 5,611.85 points at the previous US market close. The Nasdaq Composite Index closed higher, clocking in 0.87 per cent gains at 17,449.89 points, compared to 17,299.29 points at the previous market close.
However, the Dow Jones Industrial Average closed 0.03 per cent lower at 41,989.96 points on Tuesday, compared to 42,001.76 points in the previous Wall Street session.
Stocks to buy today
Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, has suggested three stocks for Wednesday.
Shiju Koothupalakkal, Senior Manager and Technical Research Analyst of PL Capital at PrabhudasLilladher, also recommended three stocks for Wednesday.
These include Mangalore Chemicals & Fertilizers, Ami Organics, Power Grid Corporation of India, BSE, Divis Laboratories, Lemon Tree Hotels, Graphite India, and Trent.
Sumeet Bagadia stocks to buy today
1. Mangalore Chemicals & Fertilizers Ltd. (MANGCHEFER): Buy at ₹161.11; Target at ₹170; Stop Loss at ₹155.
MANGCHEFER showcases a strong bullish momentum, evident from a substantial upward movement and a significant closing around ₹161.11. The stock has been experiencing robust buying interest, the stock has shown consistent higher highs and higher lows, a classic pattern of a strong uptrend. Notably, the trading volume during upward price movements has been substantial, reinforcing the strength of the rally. In recent sessions, MANGCHEFER is getting stabilized and moving towards its swing high target ofRs 170, indicating consolidation and a potential setup for another breakout.
Key technical indicators, particularly the Relative Strength Index (RSI), emphasize the stock’s positive momentum. The RSI not only signals positive trends but also aligns with the stock trading above crucial moving averages, including the 20-day, 50-day, and 200-day Exponential Moving Averages (EMA). This convergence underscores the sustained strength in MANGCHEFER price action.
The trend remains bullish, with this upward price action also indicates strong interest and a potential continuation of the rally if the momentum sustains a bullish outlook for MANGCHEFER. Traders and investors may find this analysis indicative of potential continued upward momentum in the stock.
2. Ami Organics Ltd. (AMIORG): Buy at ₹2,527.65; Target at ₹2,700; Stop Loss at ₹2,430.
AMIORG is currently trading at ₹2,527.65. After a period of small falls and sideways consolidation, the stock has lately broken the neckline levels of ₹2,500 and is rising quickly on the upside with substantial volume… There are expectations of further upward movement, potentially reaching ₹2,700 levels. On the downside, substantial support is evident near ₹2,430.
Furthermore, AMIORGis trading above key Exponential Moving Averages (EMAs), including the 20-day, 50-day, 100-day, and 200-day EMAs. This suggests a strong bullish momentum, indicating the potential for continued upward price action. The Relative Strength Index (RSI) stands at 62.21, signalling an upward trajectory and confirming an increase in buying momentum.
To manage risk effectively, it is advisable to set a stop-loss (SL) at ₹2,430 to protect the investment in case of an unexpected market reversal.
In summary, considering the technical analysis and prevailing market conditions, AMIORG appears to present a promising buying opportunity for those targeting a ₹2,700 price objective, contingent upon the implementation of prudent risk management measures.
Ganesh Dongre stocks to buy today
3. Power Grid Corporation of India Ltd. (POWERGRID): Buy at ₹289; Target at ₹298; Stop Loss at ₹285.
In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock’s price, potentially reaching around ₹298. At present, the stock is maintaining a crucial support level at ₹285. Given the current market price of ₹289, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of ₹298.
4. BSE Ltd. (BSE): Buy at ₹5,340; Target at ₹5,700; Stop Loss at ₹5,340.
In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock’s price, potentially reaching around ₹5,700. At present, the stock is maintaining a crucial support level at ₹5,340. Given the current market price of ₹5,440, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of ₹5,700.
5. Divis Laboratories Ltd. (DIVISLAB): Buy at ₹5,550; Target at ₹5,800; Stop Loss at ₹5,450.
In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock’s price, potentially reaching around ₹5,800. At present, the stock is maintaining a crucial support level at ₹5,450. Given the current market price of ₹5,550, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of ₹5,800.
Shiju Koothupalakkal stocks to buy today
6. Lemon Tree Hotels Ltd. (LEMONTREE): Buy at ₹137; Target at ₹145; Stop Loss at ₹134.
The stock has indicated a higher bottom formation taking support near 128 level and witnessed a decent pullback with a positive candle improving the bias to move past the 200 period MA at 134 level anticipating for further rise. With the RSI well positioned, has upside potential to anticipate for an upward move in the coming sessions. With the chart technically well positioned, we suggest to buy the stock for an upside target of 145 keeping the stop loss of 134.
7. Graphite India Ltd. (GRAPHITE): Buy at ₹484; Target at ₹510; Stop Loss at ₹472.
The stock has overall maintained a positive bias and with a short period of profit booking seen, has once again indicated a positive candle formation to improve the bias expecting for further upward move. The RSI has taken a breather, cooling off to some extent from the overbought zone, and has further upside potential to carry on with the positive move in the coming sessions. With the chart technically looking good, we suggest to buy the stock for an upside target of 510 keeping the stop loss of 472 level.
8. Trent Ltd. (TRENT): Buy at ₹5,576; Target at ₹5,800; Stop Loss at ₹5,450.
The stock has steadily witnessed a gradual pick up improving the bias currently moving past the important 50EMA zone at 5,435 level and indicating strength can carry on with the positive move further ahead. The RSI is maintained strong and on the rise with much upside potential visible from current rate. With the chart technically looking attractive, we suggest to buy the stock for target of 5,800 keeping the stop loss of 5,450 level.