The Indian stock market wrapped up the final trading session of the fiscal year 2024-25 on a down note, with cautious investors reacting to anticipated tariffs from the U.S. administration. On March 28, the Nifty 50 index dipped 0.31%, settling at 23,519.35 points, a drop from the previous close of 23,591.95 points. Similarly, the BSE Sensex index fell by 0.25%, finishing at 77,414.92 points, compared to 77,606.43 points the day before. Notably, the markets were closed on March 31 in observance of Eid-ul-Fitr.
Global Market Trends
As the new month commenced on March 31, U.S. markets opened lower, reflecting investor anxiety over impending tariffs from President Donald Trump. The Dow Jones Industrial Average experienced a 0.68% decline, falling to 41,293.25 points, down from 41,583.90 points at Friday’s close. The S&P 500 index also dropped 1.01%, closing at 5,524.77 points, while the Nasdaq Composite saw a more significant fall of 1.58%, landing at 17,039.68 points. Trump is expected to unveil a new set of tariffs on April 2.
Stock Picks for Today
In light of current market conditions, investors are on the lookout for promising stock recommendations. Sumeet Bagadia, Executive Director at Choice Broking, has identified two stocks to consider today, while Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, has highlighted three potential investments for Tuesday. Additionally, Shiju Koothupalakkal, Senior Manager and Technical Research Analyst at Prabhudas Lilladher, has also suggested three stocks worth considering.
Sumeet Bagadia’s Recommendations
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Nava Ltd. (NAVA):
- Buy Price: ₹518.75
- Target Price: ₹555
- Stop Loss: ₹500
NAVA is on a recovery path after a previous decline and is showing signs of a bullish momentum, forming higher highs and lows. Strong support is noted at ₹500, and if it breaks through the resistance level of ₹538, it may head towards the short-term target of ₹555.
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HealthCare Global Enterprises Ltd. (HCG):
- Buy Price: ₹542.10
- Target Price: ₹580
- Stop Loss: ₹525
HCG has formed an ascending triangle pattern, signaling a potential breakout. Trading above critical moving averages reinforces a bullish outlook, and a breakthrough could see it reach ₹580.
Ganesh Dongre’s Stock Suggestions
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Container Corporation of India Ltd. (CONCOR):
- Buy Price: ₹702
- Target Price: ₹725
- Stop Loss: ₹685
Recent analyses indicate a bullish reversal pattern, indicating potential upward movement. With current trading at ₹702, investors may consider entering now, anticipating a rise.
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Linde India Ltd. (LINDEINDIA):
- Buy Price: ₹6,180
- Target Price: ₹6,350
- Stop Loss: ₹6,080
A bullish trend is emerging, and with a support level at ₹6,080, there’s a buying opportunity at the current price of ₹6,180, as it is expected to reach the target of ₹6,350.
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Tata Consumer Products Ltd. (TATACONSUM):
- Buy Price: ₹975
- Target Price: ₹1,000
- Stop Loss: ₹955
Tata Consumer Products is showing a bullish reversal pattern as well, with its support at ₹955. The current price indicates a potential for growth towards the ₹1,000 target.
Shiju Koothupalakkal’s Insights
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Taj Gvk Hotels & Resorts Ltd. (TAJGVK):
- Buy Price: ₹477
- Target Price: ₹505
- Stop Loss: ₹467
After a correction, the stock shows signs of recovery near strong support levels, indicating a potential rise.
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GlaxoSmithKline Pharmaceuticals Ltd. (GLAXO):
- Buy Price: ₹2,880
- Target Price: ₹3,120
- Stop Loss: ₹2,810
With a recent upward trend and strong support, GLAXO appears poised for further gains.
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Tourism Finance Corporation of India Ltd. (TFCILTD):
- Buy Price: ₹169.80
- Target Price: ₹182
- Stop Loss: ₹165
After a strong surge, TFCILTD is well-positioned for further growth, making it an attractive buy.
Conclusion
Navigating the stock market can be challenging, especially with ongoing global uncertainties. However, these stock picks from industry experts present intriguing opportunities for investors looking to capitalize on the current market dynamics. As always, it’s crucial to employ sound risk management strategies and conduct thorough research before making investment decisions.
