Anand Rathi Analyst Recommends Three Stocks for Monday, 6 April 2026
Market Update: Indian Equities Extend Gains Amid Volatile Trading
On Thursday, April 2, the benchmark equity indices, the Sensex and Nifty 50, continued their upward trend for a second consecutive session, closing in positive territory. The late-session buying helped mitigate the impact of weak global cues and a sharp rise in crude oil prices.
The Sensex settled at 73,319.55, a gain of 185 points, or 0.25%, after surging 1,774 points from its intraday low of 71,545.81. Meanwhile, the Nifty 50 rebounded 531 points from its day's low of 22,182.55 to close at 22,713.10, up 34 points, or 0.15%. Despite this, the Nifty 50 ended the holiday-shortened week on a negative note, extending its losing streak for the sixth consecutive week, with a decline of roughly 0.50% on a weekly basis.
According to Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, the Nifty 50 is attempting to hold near its previous monthly low around 21,700, making the 22,000 level a critical support for the coming weeks. Sustaining above this level could open the door for a potential recovery toward the 23,400-23,800 range.
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| Index | Current Level | Previous Low | Support Zone |
|---|---|---|---|
| Nifty 50 | 22,713.10 | 21,700 | 22,000-23,500 |
| Bank Nifty | 52,000-53,000 | 49,500-50,000 | 49,500-52,000 |
Derivatives data supports Dongre's view, with the highest call open interest at the 23,500 and 23,000 strike levels, indicating key resistance, while the highest put open interest at 22,000 and 23,000 suggests strong support.
Bank Nifty also ended the week lower, declining 1.39%, with strong support placed in the 50,000-49,500 zone and resistance in the 52,000-53,000 range. Market sentiment remains cautiously optimistic but fragile, and a decisive breakout above 24,500 on the Nifty and 54,500 on the Bank Nifty will be crucial to confirm a continuation of the upward trend.
Weekly Stocks to Buy or Sell
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- Ashok Leyland: Recommended buy at ₹145-150, with a target price of ₹165 and a stop loss of ₹135.
- Asian Paints: Recommended buy at ₹2160-2170, with a target price of ₹2240 and a stop loss of ₹2120.
- Kaynes Technology India: Recommended buy at ₹3530-3550, with a target price of ₹3620 and a stop loss of ₹3500.
Investor Takeaway
Investors may consider buying stocks on Monday, 6 April 2026, based on the positive market trend.
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