MarketSmith Recommendations: Top 5 Stocks to Watch on 22 April
Domestic Equity Markets Bounce Back on Tuesday, April 21
The Indian stock market closed on a strong note on Tuesday, April 21, rebounding from a sluggish start as gains in FMCG stocks bolstered the benchmark indices amidst cautious optimism regarding ongoing geopolitical issues. The Nifty 50 index closed at 24,576.60, up by 211.75 points or 0.87%, while the Sensex wrapped up at 79,273.33, an increase of 753.03 points or 0.96%.
Investors remained attentive to global indicators, particularly the anticipated second round of discussions between the United States and Iran in Pakistan, expected to occur later in the day. Analysts mentioned that investor mood was buoyed by hopes of a potential near-term easing of tensions in the Middle East.
The Gift Nifty Live Chart showed a negative start for the Indian stock market today, trading around the 24,459 level, a discount of 126 points from the Nifty futures' previous close of 24,584.50. However, despite this, Indian markets are expected to open on a negative note, with Gift Nifty indicating a subdued start around the 24,460 zone.
| Stock | Recommendation | Target Price | Stop Loss |
|---|---|---|---|
| Adani Ports and Special Economic Zone Ltd | Buy | ₹1,750 (2 Months) | ₹1,530 |
| Gujarat Ambuja Exports Ltd | Buy | ₹179 (2 Months) | ₹145 |
| AU Small Finance Bank | Buy | ₹1,140 (2 Months) | ₹988 |
| Delhivery Ltd | Buy | ₹550 in 2-3 months | ₹449 |
| Cupid Ltd | Buy | ₹122 in 2-3 months | ₹103 |
According to Raja Venkatraman, Co-founder of NeoTrader, and stock research platform MarketSmith India, the following five shares are recommended to buy:
- Adani Ports and Special Economic Zone Ltd (CMP: ₹1594.10), with a target price of ₹1,750 (2 Months) and a stop loss of ₹1,530.
- Gujarat Ambuja Exports Ltd (CMP: ₹156.18), with a target price of ₹179 (2 Months) and a stop loss of ₹145.
- AU Small Finance Bank (CMP: ₹1,037.90), with a target price of ₹1,140 (2 Months) and a stop loss of ₹988.
- Delhivery Ltd (current price: ₹472), with a target price of ₹550 in 2-3 months and a stop loss of ₹449.
- Cupid Ltd (current price: ₹109), with a target price of ₹122 in 2-3 months and a stop loss of ₹103.
These shares are recommended due to their strong fundamentals, technical analysis, and potential for growth in the coming days. However, investors should note that there are risks associated with each stock, including key promoter risk, foreign exchange risk, and underlying potential challenges in overseas ventures.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Investor Takeaway
Investors should remain attentive to global indicators and geopolitical issues.
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