Raja Venkatraman, MarketSmith recommend five stocks for 7 April(Reuters)AI Quick ReadStocks to buy on 7 April: The benchmark indices, Sensex and Nifty 50, witnessed a notable recovery on Monday, April 6, after initially declining in early trading, prompted by a drop in crude oil prices and reports of ceasefire negotiations in the ongoing conflict in West Asia.
Strong demand for banking and IT shares, along with a rising rupee, bolstered investor confidence, according to traders.
During a session marked by volatility, the 30-share BSE Sensex soared by 787.30 points or 1.07%, closing at 74,106.85. At its peak, the index climbed 887.91 points or 1.21%, reaching 74,207.46.
The Nifty 50 also rose, gaining 255.15 points or 1.12%, to finish at 22,968.25.
The Gift Nifty Live Chart is showing a negative start for the Indian stock market today. By 7:32 AM, the Gift Nifty was trading around 22,891 level, a discount of 166 points from the Nifty futures’ previous close of 23,057.
Decoding the impact of Gift Nifty live chart and other triggers on Dalal Street, Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth said that Indian markets are likely to open on a flat note, with Gift Nifty indicating a muted start ahead of the weekly expiry. While global cues offer some support, the overall sentiment remains cautious, with markets continuing to track developments around the ongoing US–Iran conflict.
Dow Jones extended its gains, supported by a slight cooling in oil prices and optimism around a potential resolution to the conflict.
Asian markets such as Japan’s Nikkei and South Korea’s Kospi are also trading higher, reflecting this cautious optimism. However, mixed messaging from US leadership and the absence of a concrete ceasefire framework continue to keep uncertainty elevated. Iran’s rejection of the US proposal and its counter-conditions suggest that negotiations remain fluid, keeping geopolitical risk firmly in play.
From a market perspective, this creates a fragile balance between optimism and caution. Any clarity on de-escalation could support risk sentiment, while further escalation may quickly reverse gains.
Regarding stocks to buy today — Raja Venkatraman is Co-founder of NeoTrader, and stock research platform MarketSmith India, recommended buying these five shares: HDFC Bank Ltd, RBL Bank Ltd, Federal Bank Ltd, Titan Co. Ltd, and Schneider Electric Infrastructure Ltd.
Buy above ₹775, stop ₹730, target ₹895 (multiday)
Why it’s recommended: We are observing fresh momentum as trading volumes begin to accelerate. The bank reported healthy deposit growth, with the CASA ratio improving by 54 basis points sequentially to 34.1%. Notably, the Credit-to-Deposit (CD) ratio moderated to 95.31%, reflecting a healthier balance sheet. Price action is currently sustaining a recovery and appears poised for further gains. Intraday dips should be viewed as buying opportunities, as momentum is reviving on lower timeframes, suggesting the upward trend will likely persist.
52-week high: ₹1,020.35
Technical analysis: Support at ₹700, resistance at ₹900
Risk factors: Post-merger integration challenges, high Loan-to-Deposit Ratio (LDR) pressures, and market sensitivity to regulatory changes.
Target price: ₹895 (3 months)
Buy above ₹318, stop ₹290, target ₹365 (multiday)
Why it’s recommended: On 6 April, RBL shares surged over 6% to a five-week high following RBI’s approval for Emirates NBD to acquire up to a 74% stake. This entry of a major foreign institutional investor is expected to fundamentally transform the bank’s institutional profile. The stock has successfully absorbed recent selling pressure and is stabilizing at a critical value area support near 290. On the daily charts, the RSI is reviving from the neutral zone, signaling a potential trend reversal. This strength is mirrored on monthly timeframes, where the downside appears limited as the RSI tests neutral levels. The emergence of long-bodied bullish candles across multiple timeframes suggests a structural revival is underway. Given the unfolding breakout and the potential for a sustained multi-month rebound, we recommend a long position at current levels.
52-week high: ₹742.45
Technical analysis: Support at ₹290, resistance at ₹430
Risk factors: High exposure to unsecured retail loans (credit cards and microfinance), asset quality challenges in these segments, and concentration risk in its deposit base.
Target price: ₹365 (3 months)
Buy above ₹272, stop ₹257, target ₹298 (multiday)
Why it’s recommended: Recently, Blackstone received RBI approval to acquire a 9.99% stake, a move that significantly strengthens the bank’s capital base and institutional backing. While broader market conditions remain subdued, preventing a definitive breakout, the underlying trend remains resilient. The stock is currently consolidating as it awaits a catalyst to trigger its next leg up. On the technical front, the RSI is signaling a revival in upward momentum, suggesting a trend continuation is likely. Given the positive tailwind from the Blackstone news, a decisive close above the current trendline would confirm a bullish breakout. We recommend a Long position at current levels.
52-week high: ₹301.75
Technical analysis: Support at ₹250, resistance at ₹325
Risk factors: Potential for margin pressure due to intense competition, and asset quality concerns in specific loan segments.
Target price: ₹298 (3 months)
Why it’s recommended: Strong brands (Tanishq, Titan), market leadership, steady growth, retail expansion, rising demand, strong balance sheet, product diversification, high ROE/ROCE
P/E: 74.55, 52-week high: ₹4,378.40, volume: ₹706.39 crore
Technical analysis: Reclaimed its 21-DMA on above average volume
Risk factors: Gold price dependency, high valuation, regulatory risks, rising competition, demand slowdown risk, margin pressure, high inventory needs, currency impact
Target price: ₹4,700 in two to three months
Why it’s recommended: Strong parentage (Schneider Electric Group), exposure to power & infra sector, beneficiary of capex cycle, improving revenue growth (~20% YoY), high operating leverage potential, capacity expansion plans, strong order inflow visibility, improving margins outlook
P/E:82.79, 52-week high: ₹1,052.00, volume: ₹22.75 crore
Technical analysis: Trendline breakout
Risk factors: Cyclical infra business, high dependence on govt capex, lumpy order execution, working capital intensive, competition from global & domestic players, volatility in raw material costs, execution delays risk, valuation may be expensive
Target price: ₹1,040 in two to three months
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players.
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At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors.
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Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation.
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Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.