MarketSmith's Raja Venkatraman Identifies Five Stocks for Investors to Consider on April 6

Indian Stock Market Seeks a Steady Start on April 6 Amid Uncertainty

The Indian stock market is expected to open on a muted note on April 6, with the Nifty 50 finishing 0.15% higher at 22,713.1 on the previous trading day. The Sensex also rose by 0.25% to 73,319.55 after experiencing a drop of over 2% earlier in the day.

The domestic equity markets were shut on Friday, April 3, on account of Good Friday. On Thursday, April 2, the major indices recovered from previous losses as the rupee gained strength following measures taken by the central bank. However, decreasing hopes for a swift resolution to the situation in Iran prolonged the downturn to six consecutive weeks.

The Gift Nifty Live Chart is showing a negative start for the Indian stock market today. By 7:30 AM, the Gift Nifty was trading around 22,611.5 level, a discount of 155 points from the Nifty futures' previous close of 22,766.60.

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According to Hariprasad K, a SEBI-registered Research Analyst and Founder of Livelong Wealth, Indian markets are expected to open on a muted note, with Gift Nifty pointing towards a flat start around the 22,690-22,700 zone. The underlying tone remains cautious after fresh geopolitical rhetoric over the weekend, with comments from US President Donald Trump indicating potential escalation if key supply routes are not restored keeping risk appetite in check.

Asian cues remain mildly supportive, with Japan and South Korea trading higher, although broader participation is limited due to regional holidays. However, crude oil and global uncertainty continue to be dominant drivers for markets.

Stocks to Buy on April 6

Based on the recommendations by Raja Venkatraman, Co-founder of NeoTrader, and stock research platform MarketSmith India, the following five shares are worth buying:

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Key Recommendations

• Adani Power Ltd: Buy above ₹160, stop ₹151, target ₹175 (Multiday) - recommended due to its strong presence in the power generation sector and recent inclusion in the F&O segment.
• Anand Rathi Wealth Ltd: Buy above ₹3,210, stop ₹3,070, target ₹3,450 (Multiday) - recommended due to its strong financial services portfolio and recent recovery in its stock price.
• Mphasis Ltd: Buy above ₹2,210, stop ₹2,110, target ₹2,410 (Multiday) - recommended due to its strong presence in the IT services sector and recent revival in its stock price.
• TD Power Systems Ltd: Buy at ₹870-885, target price ₹1,000 in two to three months, stop loss ₹818 - recommended due to its strong presence in the industrial generators segment and improving order book visibility.
• Acme Solar Holdings Limited: Buy at ₹272-276, target price ₹305 in two to three months, stop loss ₹260 - recommended due to its strong presence in the renewable energy sector and recent reclaiming of its 200-DMA on above-average volume.