The Indian stock market experienced a significant downturn on April 1, driven by persistent worries over potential U.S. tariffs. This selloff led to profit-taking after a positive recovery in March, with the Nifty 50 index plummeting nearly 2%. Major players in the IT and banking sectors, such as Infosys and HDFC Bank, were among the main contributors to this decline. Market analysts anticipate continued volatility in the coming weeks, but they also foresee some stabilization following the release of Q4 earnings. Given the uncertain global landscape, experts recommend focusing on high-quality stocks during this period.
Expert Stock Recommendations for Short-Term Gains
Vishnu Kant Upadhyay, AVP of Research & Advisory at Master Capital Services, along with Hardik Matalia from Choice Broking, has identified six stocks worth considering for the next 2-3 weeks. Here’s their analysis:
1. Torrent Power
- Previous Close: ₹1,486.85
- Target Price: ₹1,635 – ₹1,678
- Stop Loss: ₹1,396
- Potential Upside: 13%
Torrent Power has recently shown signs of a turnaround after a prolonged downtrend. A decisive breakout above its declining trendline, combined with increased trading volumes, indicates strong buyer interest. The stock’s rising highs and lows suggest an emerging uptrend, with an RSI of 66 showing bullish momentum. Upadhyay noted, “With momentum tilting in favor of buyers, Torrent Power is well-poised for a rally towards ₹1,635 and ₹1,678.”
2. United Breweries (UBL)
- Previous Close: ₹1,999.25
- Target Price: ₹2,160 – ₹2,190
- Stop Loss: ₹1,880
- Potential Upside: 10%
UBL has successfully broken out of a rising channel, reinforcing its uptrend. Surpassing significant moving averages, including the 34, 55, and 100-day EMAs, indicates solid bullish strength. With an RSI near 60, the stock is gaining momentum, supported by a bullish MACD crossover.
3. Balrampur Chini Mills
- Previous Close: ₹547.50
- Target Price: ₹592 – ₹610
- Stop Loss: ₹502
- Potential Upside: 11%
Balrampur Chini Mills has emerged from a bullish pole-and-flag pattern, suggesting a continuation of its upward journey. Trading above the 55, 100, and 200-day EMAs confirms a strong uptrend. An RSI of 68 indicates solid momentum, suggesting that any dip offers a buying opportunity, with targets set at ₹592 and ₹610.
Additional Stock Picks
Hardik Matalia has also identified promising stocks worth a look:
4. Sterling and Wilson Renewable Energy
- Previous Close: ₹250.35
- Target Price: ₹293 – ₹297
- Stop Loss: ₹255
- Potential Upside: 19%
Sterling and Wilson is forming an inverse head-and-shoulders pattern, a classic indicator of a bullish reversal. Approaching a critical resistance at ₹275, a breakout here could drive the stock higher, with potential targets between ₹293 and ₹297. The stock is currently trading above its 20-day EMA, confirming improving strength.
5. Whirlpool of India
- Previous Close: ₹989.90
- Target Price: ₹1,140 – ₹1,155
- Stop Loss: ₹992
- Potential Upside: 17%
Whirlpool of India is showing a rounding bottom pattern, indicating a potential trend reversal after a significant downtrend. A breakout above the resistance level at ₹1,070 could lead to targets of ₹1,140 and ₹1,155, with the stock demonstrating solid upward momentum.
6. Trent
- Previous Close: ₹5,325.15
- Target Price: ₹6,000 – ₹6,200
- Stop Loss: ₹5,300
- Potential Upside: 16%
Trent has broken out from a consolidation phase and formed a rounding bottom with a double bottom pattern, indicating strong accumulation. A breakout above ₹5,750 could push the stock towards targets of ₹6,000 to ₹6,200, further solidifying the bullish sentiment.
Conclusion
Navigating the current market volatility may seem challenging, but focusing on quality stocks can lead to fruitful opportunities. As earnings reports begin to roll in, investors should remain vigilant and consider these expert recommendations to capitalize on potential short-term gains.
For ongoing insights into the stock market, stay tuned for our latest updates.
