On April 23, 2025, the Indian stock market showcased impressive performance as both the Sensex and Nifty 50 indices continued their upward trajectory for the seventh consecutive day. This surge was largely fueled by encouraging signals from the global market. The Sensex saw a substantial rise, climbing 521 points or 0.65% to settle at 80,116.49. Meanwhile, the Nifty 50 also experienced a robust increase, gaining 162 points or 0.67% to close at 24,328.95. Additionally, the BSE Midcap and Smallcap indices rose by 0.94% and 0.26%, respectively.
Positive Market Sentiment
Sumeet Bagadia, the Executive Director at Choice Broking, expressed a bullish outlook on the Indian stock market. With the Nifty 50 finishing above 24,300, he noted its potential to reach higher levels. Bagadia stated, "The index has established vital support at 23,800, indicating it’s on track to hit 24,800. If it surpasses this resistance, the benchmark may soon approach 25,000."
Stock Recommendations
In light of the upcoming Q4 results for 2025, Bagadia emphasized the importance of a stock-specific strategy. He highlighted the value of identifying stocks with strong technical charts for intraday trading opportunities. Here are his top recommendations for stocks to consider buying today:
- EIH: Buy at ₹394, target ₹422, stop loss ₹380
- SBFC Finance: Buy at ₹108.26, target ₹117, stop loss ₹104
- Acme Solar Holdings: Buy at ₹223.19, target ₹239, stop loss ₹215
- Inox Wind: Buy at ₹174.55, target ₹187, stop loss ₹168
- CG Power and Industrial Solutions: Buy at ₹660.15, target ₹706, stop loss ₹637
Market Insights
As the market continues to show resilience, investors are encouraged to keep a close watch on these breakout stocks. The combination of strong performance and strategic recommendations creates a compelling case for those looking to make informed trading decisions. As always, maintaining a disciplined approach and adhering to stop-loss strategies will be vital in navigating the market’s fluctuations.
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