Indian Stocks under ₹100: Sumeet Bagadia Identifies Three Potential Buys for Monday, April 13, 2026

Indian Stock Market Sees Strong Rebound After Six Consecutive Weeks of Decline

The Indian stock market rebounded strongly last week, supported by favourable global cues and investor sentiment. Despite persistent geopolitical tensions, the market advanced around 6% as both benchmark indices, the Nifty 50 and BSE Sensex, closed near their weekly peaks.

The Nifty 50 opened with a gap-up of 105.45 points at 23,880.55 and witnessed minor weakness in the initial minutes, marking its intraday low near the opening level at 23,856.35. However, sustained buying interest throughout the session supported a steady upward move, pushing the index to an intraday high of 24,074.05. The index eventually closed near the day's high at 24,050.60, registering a gain of 275.50 points or 1.16% over the previous close.

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According to Sumeet Bagadia, Executive Director at Choice Broking, the formation of a bullish candlestick pattern indicates continued buying interest and strengthening market sentiment. From a technical perspective, immediate support is placed in the 23,750-23,800 range, while resistance is observed between 24,200-24,250 levels. The Relative Strength Index (RSI) stands at 54.24, remaining above the 50 midpoint, indicating sustained positive momentum.

The Bank Nifty index opened with a gap-up of around 360 points at 55,182.25 and witnessed minor early weakness, marking its intraday low near the opening level at 55,145.25. Thereafter, strong buying interest emerged, driving a steady uptrend throughout the session and pushing the index to an intraday high of 55,978.50. The index closed near its day's high at 55,912.75, gaining 1,091.05 points or 1.99% for the day.

Bagadia noted that the formation of a bullish candle reflects sustained buying interest and positive market sentiment. From a technical standpoint, immediate support is placed in the 55,500-56,000 range, while resistance is seen in the 56,250-56,400 zone. The Relative Strength Index (RSI) stands at 53.91, remaining above the midpoint level of 50 and indicating continued positive momentum.

Sumeet Bagadia has recommended three stocks to buy on Monday, April 6. The three stock picks by Bagadia are:

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1. Bank of Maharashtra: Buy at ₹70.59 | Target Price: ₹75.8 | Stop Loss: ₹68
2. NMDC Steel: Buy at ₹42 | Target Price: ₹45 | Stop Loss: ₹40.5
3. NMDC: Buy at ₹85 | Target Price: ₹91 | Stop Loss: ₹82