MarketSmith Analyst Recommends Four Stocks for April 8 Trading

Indian Stock Market Sees Gains Amid Global Risk-On Sentiment

The domestic benchmark indices, Nifty 50 and Sensex, rose on Tuesday, April 7, driven by gains in technology stocks ahead of the quarterly earnings reports, while fears regarding the escalation of the Middle East conflict ahead of US President Donald Trump's deadline for Iran to negotiate kept investors on edge.

Investors are anticipating the Reserve Bank of India's policy announcement scheduled for Wednesday, April 8, its first since the onset of the conflict.

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The Nifty 50 increased by 0.68% to reach 23,123.65, and the Sensex rose by 0.69% to 74,616.58, marking two consecutive sessions of gains.

Gift Nifty Live Chart Signals Positive Start

The Gift Nifty Live Chart is showing a positive start for the Indian stock market today. By 7:28 AM, the Gift Nifty was trading around 23,805 level, a premium of 654 points from the Nifty futures' previous close of 23,151.10.

According to Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth, the Indian markets are set for a strong gap-up opening, with Gift Nifty rebounding sharply to the 23,800 zone after a weak overnight trend. The shift reflects a decisive improvement in global risk sentiment following a temporary de-escalation in West Asia tensions.

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The key trigger is the announcement of a two-week pause in US military action, alongside Iran's agreement to facilitate safe passage through the Strait of Hormuz. This has significantly reduced immediate concerns around energy supply disruptions, which had been a major overhang for global markets.

Global cues have turned firmly supportive. US markets have moved higher, while Asian markets like Japan and South Korea are witnessing sharp gains, indicating a broad-based risk-on sentiment. The easing of geopolitical stress has led to a sharp fall in global crude oil prices, which is particularly positive for India from both inflation and currency perspectives.

Stocks to Buy Today

Raja Venkatraman, Co-founder of NeoTrader, and stock research platform MarketSmith India, recommended buying the following five shares:

Natco Pharma Ltd

• Current Price: ₹1,082.40
• Recommendation: Buy above ₹1,085
• Stop Loss: ₹1,005
• Target Price: ₹1,220 (2 Months)

Natco Pharma Ltd is a Hyderabad-based, vertically integrated Indian pharmaceutical company founded in 1981, specialising in complex generics, oncology (cancer drugs), and active pharmaceutical ingredients (APIs). The steady rounding pattern forming has ignited fresh bullish momentum.

Godawari Power & Ispat Ltd

• Current Price: ₹284.85
• Recommendation: Buy above ₹285
• Stop Loss: ₹275
• Target Price: ₹310 (2 Months)

Godawari Power & Ispat Ltd (GPIL) is an integrated steel manufacturer in Chhattisgarh, specializing in producing sponge iron, iron ore pellets, steel billets, wire rods, HB wire, ferroalloys, and operates captive power plants. A sharp reaction into the TS & KS bands, followed by a subsequent recovery, forming a nice rounding formation.

KPIT Technologies Ltd

• Current Price: ₹707.85
• Recommendation: Buy above ₹710
• Stop Loss: ₹675
• Target Price: ₹781 (2 Months)

KPIT Technologies Ltd (KPITTECH) is a leading independent Indian multinational engineering research and development (ER&D) firm, specializing in automotive software and mobility solutions. The trends show a revival, as the recent range has been surpassed, and selling pressure is seen receding, which is bringing a positive reaction.

Thangamayil Jewellery Limited

• Current Price: ₹3,862
• Recommendation: Buy at ₹3,840-3,875
• Stop Loss: ₹3,650
• Target Price: ₹4,290 (2-3 Months)

Thangamayil Jewellery Limited is a strong brand in the Tamil Nadu market, with consistent revenue growth, aggressive store expansion plans, and a benefit from the shift to the organized jewellery sector.