Anand Rathi's Jigar Patel Recommends Top Short-Term Stock Picks, Including Birlasoft and Natco Pharma

Indian Stock Market Expected to Remain Weak Amid Global Cues

The Indian stock market is expected to remain weak on Monday, April 6, due to higher crude oil prices, a stronger dollar, and mixed global cues. The US-Iran war has entered its sixth week, keeping oil prices near $110 a barrel and raising concerns about its ramifications for the Indian economy. In the near term, the market is expected to remain volatile, with global cues as the main dominating factor.

According to Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, the near term outlook for the Nifty 50 remains mixed, but is turning more constructive on a broader timeframe. Patel highlighted that after sliding toward the 22,200 zone, the index staged a sharp rebound to 22,700, indicating firm demand at lower levels. This pullback, combined with a bullish divergence on the daily RSI, signals fading bearish momentum. However, definitive confirmation is still awaited.

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Patel underscored that the index continues to trade below the falling trendline resistance near 23,100, with a stronger supply zone around 23,400. "Only a decisive breakout above these levels would confirm a durable bottom and pave the way for a move toward new highs. Until then, volatility and consolidation may persist as sentiment stabilises," said Patel.

For Bank Nifty, Patel believes a bullish RSI divergence further indicates waning downside momentum. However, here too, confirmation is pending, with the key breakout zone placed around 52,500. "A sustained move above this level would signal a firm bottom. On the downside, the 50,000-49,000 zone is likely to act as strong support in the near term," said Patel.

Jigar Patel recommends buying the following three stocks for the next one to two weeks:

Birlasoft

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• Previous close: ₹370.85
• Accumulate in the ₹370-355 zone
• Target price: ₹470
• Stop loss: ₹315

Patel highlighted that since April 2025, Birlasoft has been forming a meaningful base, developing a clear triple bottom pattern on the weekly timeframe. This structure, combined with a three-point bullish RSI divergence, indicates strong buying interest and suggests that the zone between ₹325-335 is acting as a robust long-term support area.

Natco Pharma

• Previous close: ₹1,027.55
• Buy in the ₹1,030-1,000 zone
• Target price: ₹1,125
• Stop loss: ₹950

Patel highlighted that Natco Pharma has recently rebounded from its previous breakout zone, reinforcing the strength of its ongoing uptrend. The Williams Alligator indicator shows all three lines aligned and running parallel, signalling an established and sustainable trend. Momentum indicators further support the bullish outlook.

Gujarat Ambuja Exports (GAEL)

• Previous close: ₹140.35
• Buy in the ₹140-135 zone
• Target price: ₹155
• Stop loss: ₹126

Patel highlighted that in December 2025, GAEL delivered a decisive breakout above its 50-week EMA after an extended consolidation phase, signalling a clear shift toward bullish sentiment. Following the breakout, the stock has seen a healthy retracement and is currently trading above the Williams Alligator on the weekly timeframe, reinforcing the strength of the prevailing trend.