Markets
Stocks to buy today: Ankush Bajaj's expert recommendations for 15 April
Summary
- Best stocks to buy today: Discover Ankush Bajaj's expert stock picks for 15 April. Get insights into top-performing stocks and informed investment decisions.
The Indian stock market opened on a strong note on Friday, 12 April, buoyed by positive global developments. The US administration’s announcement of a temporary pause on its recent tariff hikes triggered a wave of optimism across global markets, and India followed suit with a solid gap-up opening. Bulls dominated the session, with Nifty registering a strong uptrend and sustaining it throughout the day.
Three stocks to buy today, as recommended by Ankush Bajaj
1. UNITDSPR (current price: ₹1,476.90)
Why it’s recommended: The stock has given a strong breakout from ₹1,445. RSI and MACD are both in positive territory, indicating strong bullish momentum and potential for further upside.
Key metrics: Breakout zone: ₹1,445, RSI: Bullish, MACD: Positive crossover
Technical analysis: A clean breakout above ₹1,445 suggests a shift in momentum. With both RSI and MACD aligned positively, a strong rally is expected in the near term.
Risk factors: Liquor stocks may face regulatory changes, taxation updates, or consumption pattern shifts that could affect short-term volatility.
Buy at: ₹1,476.90
Target price: ₹1,525– ₹1,540 in 1–2 weeks
Stop loss: ₹1,452
2. HUDCO (current price: ₹215.80)
Why it’s recommended: The stock has given a reverse Head and Shoulders breakout, indicating a strong bullish reversal pattern. On the daily chart, RSI is at 60, confirming bullish momentum.
Key metrics: Breakout pattern: Reverse Head and Shoulders, RSI: 60 (bullish)
Technical analysis: The neckline breakout signals trend reversal strength. With RSI at 60, momentum supports a continued upward move toward the target zone.
Risk factors: Stocks in the infrastructure and housing sector can be sensitive to policy changes, interest rate fluctuations, and budget allocations.
Buy at: ₹215.80
Target price: ₹228– ₹232 in 1–2 weeks
Stop loss: ₹208
Also read | Pharma companies on edge over Trump tariff tantrum: ‘Will he, won’t he?’
3. CHAMBLFERT (current price: ₹645.25)
Why it’s recommended: On the daily chart, the stock is in an uptrend with RSI trading above 66. The MACD signal line is above the MACD line, indicating continued bullish momentum.
Key metrics: RSI: 66+ (bullish), MACD crossover: Bullish, Breakout zone: ₹637
Technical analysis: On the 15-minute chart, the stock has given a rectangle breakout at the ₹637 level, confirming short-term strength. Daily indicators support the bullish trend.
Risk factors: Fertiliser stocks can be impacted by government policies, monsoon dependency, and fluctuations in global urea prices.
Buy at: ₹645.25
Target price: ₹680– ₹690 in 1–2 weeks
Stop loss: ₹625
Market on 12 April: Bulls take charge as global tariff pause sparks rally
The benchmark surged past 22,500 early in Friday's session and never looked back, closing near the day’s high. Investors welcomed the global relief with aggressive buying, especially in heavyweight counters and rate-sensitive sectors. The index moved with a bullish bias, showing strong breadth and broad-based participation.
Also read: TCS commentary offers some optimism, but the Street isn’t buying it
The BSE Sensex closed 1.77% higher, gaining 1310.11 points to settle at 75,157.26. The NSE Nifty 50 climbed 429.40 points or 1.92%, ending at 22,828.55. Nifty Bank also rode the momentum, advancing 762.20 points or 1.52% to close at 51,002.35, comfortably reclaiming the 51,000 mark for the first time in several sessions. Notably,no Nifty stocks ended in the red, underscoring the strength and confidence behind the rally.
Sectoral trends: Market-wide euphoria, all sectors close in the green
Bullish sentiment was reflected in every major sector and not a single index closed in the red. The metals index led the charge with an impressive gain of 4.09%, driven by easing commodity concerns and expectations of improved global trade dynamics. The energy sector followed suit, gaining 2.70% on the back of stable crude prices and improving outlook from major oil & gas players.
The PSE Index added 2.46%, supported by sustained investor interest in government-backed enterprises, signaling confidence in public sector reforms and fiscal visibility. Across the board, the market showed consistent participation, with all sectors contributing to the upside, signaling a high-conviction move backed by global relief and domestic stability.
Stock-specific highlights: Green day for Nifty 50
All Nifty 50 constituents ending the day in green territory, marking a rare and powerful display of broad-based buying. Hindalco led the pack with a sharp gain of 6.04%, continuing to attract institutional flows. Tata Steel and JSW Steel surged 4.9% and 4.7%, respectively, riding the metals wave as global growth concerns eased.
Indian stock market outlook
The Nifty opened with a gap-up on Friday and traded within a narrow range throughout the session, ultimately closing about 429 points higher.
On the daily chart, the index is approaching a key resistance zone between 22,800 and 23,000, which aligns with the 50% Fibonacci retracement level of the previous fall from 23,870 to 21,743, and also coincides with the 20-day moving average. Despite the recent three-session rally, the daily momentum indicator has given a negative crossover, which is typically a bearish signal. This suggests that the current pullback may be facing stiff resistance and a potential resumption of the downtrend is likely from the 22,850–23,000 zone. Hence, we continue to maintain a cautious to negative stance on the Nifty.
A decisive move above 23,060 would warrant a reassessment of the short-term view.
Also read | Siemens split: Energy arm looks bright, but residual businesses face bumpy ride
Other technical observations
- Daily chart: Nifty remains below both its 20-DMA (23,009) and 40-DEMA (22,974). The momentum indicator continues to signal weakness with a negative crossover.
- Hourly chart: Nifty is currently trading above the 20-HMA (22,597) and the 40-HMA (22,715). The hourly momentum indicator has shown a positive crossover, indicating near-term strength.
- Market breadth: The broader market sentiment was positive, with 2,363 advances and 488 declines on the NSE.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
Investments in securities are subject to market risks. Read all the related documents carefully before investing.
Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
