Investor Advisory: Sumeet Bagadia Identifies Five Key Stocks for Consideration on April 6, 2026

Indian Indices Extend Gains for Second Straight Session

The Indian stock market indices, Sensex and Nifty 50, continued their upward momentum for the second consecutive session on Thursday, April 2. Despite weak global cues and a sharp rise in crude oil prices, the market managed to close in positive territory.

The Sensex settled 185 points higher at 73,319.55, recovering 1,774 points from its intraday low of 71,545.81. The NSE's Nifty 50 rebounded 531 points from its day's low of 22,182.55 to finish at 22,713.10, up 34 points, or 0.15%.

Market Analysis

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On Thursday, the Nifty 50 opened with a sharp gap-down at 22,383.40 and declined further to an intraday low of 22,182.55 during the first half of the session. However, strong buying interest emerged in the latter half, driving the index higher to an intraday high of 22,782.30.

Despite the negative start, the index managed to recover and close in positive territory at 22,713.10, registering a marginal gain of 33.70 points or 0.15% over the previous close.

In terms of technical analysis, Sumeet Bagadia, Executive Director at Choice Broking, pointed out that the immediate support for the index is placed in the 22,450-22,500 range, while resistance is observed between 22,840 and 22,900 levels. The Relative Strength Index (RSI) is currently at 37.56, remaining below the midpoint of 50, indicating a lack of strong conviction in the momentum.

Bank Nifty Remains Volatile

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The Bank Nifty index remained volatile throughout the trading session, opening with a sharp gap-down at 50,625.65 and extending its decline in early trade to an intraday low of 49,954.85 due to continued selling pressure. However, strong buying interest at lower levels led to a sharp recovery, pushing the index to an intraday high of 51,731.95.

The index eventually closed at 51,548.75, registering a gain of 100.10 points or 0.19% for the day. On the daily timeframe, the formation of a bullish candlestick reflects improving sentiment and buying interest in the index.

Technical Outlook

According to Sumeet Bagadia, the immediate support for the Bank Nifty is placed in the 51,000-51,150 range, while resistance is seen in the 51,860-52,000 zone. The Relative Strength Index (RSI) stands at 35.13 and continues to remain below the midpoint level of 50, indicating that the momentum is yet to strengthen meaningfully.

Stock Recommendations

Sumeet Bagadia has recommended five shares to buy on Monday, April 6:

These stocks have shown strength in their technical analysis, indicating potential for upside continuation. Traders may consider buying at the current market price with a stop-loss at the specified levels for a target of the mentioned prices.