Investor Guidance: NALCO, Avenue Supermarts, Dhampur Sugar, PG Electroplast, and Union Bank of India Among Stocks to Watch on April 1

Market Falls Over 2 Percent as Middle East Crisis Deepens

The benchmark indices suffered a decline of over 2 percent on March 30 as the Middle East crisis intensified. Market breadth was heavily skewed towards bears, with 2,635 shares experiencing selling pressure compared to 429 advancing shares on the National Stock Exchange (NSE). Following the severe market downturn over the last two days, the market may witness consolidation with range-bound trading in the coming sessions.

Short-Term Trading Ideas

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Key Stocks to Watch

Ashish Kyal, Founder and CEO of Waves Strategy Advisors

• National Aluminium Company: With the Iran attack on key aluminium facilities, the stock is expected to react positively and head higher. The price is forming a triangle pattern on the daily chart, with a move above Rs 395 pushing prices towards Rs 410 and a breakout beyond this level extending gains towards Rs 425.

• Avenue Supermarts: The stock is showing strong resilience, with volumes surging to their highest levels since January 12, 2026, and the MACD showing a bullish crossover. A sustained move above Rs 4,015 could drive the stock higher towards Rs 4,135, followed by Rs 4,290.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

• Dhampur Sugar Mills: The stock has gained nearly 12 percent in March 2026, supported by rising crude oil prices that are boosting ethanol demand. Despite the sharp rally, the daily RSI remains stable around 69, suggesting there is still room for further upside.

Key Stocks to Avoid

Vidnyan S Sawant, Head of Research at GEPL Capital

• PG Electroplast: The stock has seen a five-wave decline from the high of Rs 640 to Rs 479, indicating that the short- to medium-term trend is down. Sideways consolidation in wave B is complete, and the stock has started its next leg of the down move.

• Union Bank of India: The stock recently found resistance around the 20-day SMA in the previous week and witnessed selling pressure from there. On the daily chart, a small head-and-shoulders pattern has formed, with a breakdown below the Rs 168 level indicating further weakness in the coming trading sessions.

• RBL Bank: The stock has seen a five-wave decline from the high of Rs 339.80, indicating that the short-term trend has turned bearish. The chart structure suggests that the pullback in wave B was completed on March 25 around the key daily averages (20-day SMA and 40-day EMA), and wave C has started.