Stocks to Consider Under ₹100: Recommendations for Monday, April 6, 2026

Indian Stock Market Sees Sixth Consecutive Week of Decline

The Indian stock market closed lower for a sixth straight week, with the benchmark indices, Nifty and Sensex, slipping nearly half a percent amid heightened volatility caused by a combination of global and domestic uncertainties. The holiday-shortened week started on a weak footing as rising US-Iran tensions and a sharp surge in crude oil prices dampened sentiment, leading to widespread selling.

However, markets recovered in the midweek as geopolitical concerns eased and oil prices softened. Despite the rebound, volatility stayed high due to shifting global cues, persistent foreign institutional investor outflows, a weakening rupee, and inflation worries. As a result, the Nifty ended the week lower at 22,713.10, while the Sensex closed at 73,319.55.

Market Outlook for the Next Week

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The Nifty 50 index opened on a weak note on Thursday, 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 closed in positive territory at 22,713.10, registering a marginal gain of 33.70 points or 0.15% over the previous close.

According to Sumeet Bagadia, Executive Director at Choice Broking, 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, which suggests that the momentum lacks strong conviction.

Bank Nifty Remains Volatile

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, touching 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.

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Stock Recommendations

Sumeet Bagadia has recommended three stocks to buy on Monday, April 6. The three stock picks by Bagadia are:

Bagadia has advised investors to maintain a cautious stance considering the prevailing geopolitical uncertainties and to keep a close watch on important support and resistance levels before taking any action.