The Indian stock market experienced a notable recovery on Tuesday, April 8, with the Nifty 50 index bouncing back almost 2% following a significant decline of over 3% in the previous session. This optimistic turnaround was fueled by expectations that the U.S. government might reconsider its stringent tariff policies. In morning trading, the Nifty 50 surged to 22,578 and maintained its upward trajectory, trading around 22,518 by 9:50 AM, with all 50 stocks in the index showing positive movement.
Market Sentiment and Expert Recommendations
Despite the rebound, market analysts caution that uncertainty lingers, particularly regarding U.S. President Donald Trump’s forthcoming actions. Experts describe the current environment as a "stock picker’s market," emphasizing the importance of selecting quality stocks while avoiding high-risk investments.
Market analysts Vishnu Kant Upadhyay from Master Capital Services and Hardik Matalia from Choice Broking have identified six stocks as potential short-term buys for the upcoming weeks.
Recommended Stocks to Consider
Axis Bank
- Previous Close: ₹1,047.95
- Target Price: ₹1,165 and ₹1,190
- Stop Loss: ₹1,020
Axis Bank continues to show a strong upward trend, trading above key moving averages. Recent price actions indicate a healthy consolidation following a robust rally. The Relative Strength Index (RSI) stands at 61.86, indicating a bullish momentum. Upadhyay suggests that as long as Axis Bank remains above the ₹1,020 support level, it is set to reach targets of ₹1,165 and ₹1,190.
Bajaj Finance
- Previous Close: ₹8,568
- Target Price: ₹9,300 and ₹9,500
- Stop Loss: ₹8,220
Bajaj Finance shows strong performance with prices finding support near the 21-day EMA. The stock has rebounded off critical trendline support, and the positive trend is supported by a bullish Supertrend indicator. With an RSI of 55, the stock is well-positioned for further gains, suggesting that it could reach ₹9,300 and possibly ₹9,500 if it holds above ₹8,220.
United Spirits
- Previous Close: ₹1,403.80
- Target Price: ₹1,540 and ₹1,565
- Stop Loss: ₹1,345
United Spirits has displayed strong bullish momentum, recently surpassing key moving averages. The RSI is at 61.36, reflecting healthy buying interest. Upadhyay highlights that maintaining above ₹1,345 could lead the stock towards targets of ₹1,540 to ₹1,565.
Godrej Consumer Products
- Previous Close: ₹1,160.10
- Target Price: ₹1,260 and ₹1,275
- Stop Loss: ₹1,100
After a nearly 19% decline, Godrej Consumer Products has shown a V-shaped recovery, supported by rising volumes. According to Matalia, a sustained breakout above the ₹1,185 resistance could confirm bullish momentum, setting the stage for targets in the ₹1,260–₹1,275 range.
Adani Wilmar
- Previous Close: ₹269.75
- Target Price: ₹295 and ₹300
- Stop Loss: ₹255
Adani Wilmar is exhibiting signs of a potential breakout following a consolidation phase. Matalia notes that surpassing the ₹275 level could trigger further upward movement, with targets set between ₹295 and ₹300.
Berger Paints
- Previous Close: ₹511.95
- Target Price: ₹555 and ₹565
- Stop Loss: ₹485
Berger Paints is showing a robust recovery pattern, forming higher highs on the daily chart. Matalia points out that a decisive breakout above ₹520 could pave the way for further gains, aiming for ₹555–₹565.
Conclusion
As the market continues to navigate uncertain conditions, investors are encouraged to focus on quality stocks that exhibit strong fundamentals and growth potential. The recommendations from industry experts serve as a valuable guide for those looking to make informed decisions in this dynamic environment. For the latest updates on market trends and stock recommendations, stay tuned!
