Shares to buy or sell: Riyank Arora of Mehta Equities suggests these three stocks to buy or sell in short term

The domestic benchmark indices, Nifty 50 and Sensex, maintained their upward trend during Tuesday's opening, marking a seventh consecutive session of gains.

The Nifty 50 index started at 23,751.50, rising by 93.15 points or 0.39 percent, while the Sensex increased by 311.90 points or 0.40 percent, opening at 78,296.28. Analysts noted that the market is rebounding due to purchases by foreign investors; however, obstacles remain as Trump is expected to unveil new trade tariffs on April 2.

Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, mentioned that the 5.6% increase in the Nifty 50 from its recent lows has been fueled by several factors, including foreign institutional investors becoming net buyers ( ₹13765 crores in the last three days), the resulting short-covering, and the improving macroeconomic conditions of India.

The rise in mid and small caps has encouraged retail investors to return to the market in significant numbers. Although the market sentiment leans toward bullish, there is a lack of fundamental backing to drive the market significantly higher from current levels, especially with President Trump’s potential trade tariffs looming over the markets.

Market Views - Riyank Arora, Technical Analyst, Mehta Equities Ltd

Nifty 50

Nifty 50 has given a strong breakout above its 100-day and 200-day moving averages, showing positive momentum. It has stayed above the 23,500 level, which is a good sign for further growth. If this trend continues, Nifty could move towards the 24,000 mark. However, traders should keep a strict stop-loss at 23,400 to manage risk.

Bank Nifty Outlook

Bank Nifty jumped nearly 1,100 points in the last session and is trading above all important moving averages. The next resistance levels are at 53,000 and 53,500, while strong support is around 50,500. With the current momentum, Bank Nifty is likely to continue its upward move.

Shares to buy or sell for short term

Riyank Arora recommends buying or selling these three stocks in the short term - Hindustan Aeronautics Ltd, Jubilant Foodworks, and Federal Bank.

Hindustan Aeronautics Ltd (HAL) – Buy

HAL share price is showing strong upward movement as it trades above all key moving averages. The stock is making higher highs and higher lows, which suggests the uptrend will continue. Its RSI (14) is at 73, meaning it is gaining strength but is also nearing overbought levels. If HAL breaks above ₹4,150, it could move towards the ₹4,300 target. Traders should place a stop-loss at ₹4,000 to protect their gains in case of a dip.

Jubilant Foodworks – Sell

Jubilant Foodworks share price is struggling to move above the ₹660- ₹670 range, facing resistance at higher levels. Its RSI (14) is at 55, meaning it is neither too strong nor too weak, but if it falls below ₹650, selling pressure may increase. The stock is trading below key moving averages, which signals weakness. If the decline continues, it could reach ₹635. Traders should keep a stop-loss at ₹670 to manage risk.

Federal Bank – Buy

Federal Bank share price is in a strong uptrend and trading above all important moving averages. Its RSI (14) is at 71, showing good bullish momentum with room for further gains. If the stock crosses ₹198, it may attract more buyers and move toward ₹205. The banking sector is performing well, which adds to the stock’s strength. Traders should set a stop-loss at ₹192 to limit risk.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.