Vinay Rajani of HDFC Sec suggests Action Construction Equipment, Moil shares to buyStock market today: The domestic benchmark indices, Nifty 50 and Sensex opened on a cautious and slightly negative note on Monday, April 20 as investor sentiment weakened amid rising uncertainty over US-Iran negotiations and mixed signals from leadership on both sides.
The benchmark indices mirrored the subdued mood in early trade. However, until noon, Sensex climbed 314.84 points (0.40%) to 78,808.38, while the Nifty 50 jumped 98.85 points (0.42%) to 24,455 . 85 at 12:25 am.
Uncertainty around the progress of peace talks has unsettled markets. Although a temporary ceasefire had initially raised hopes of a diplomatic resolution, recent conflicting statements have raised doubts about its sustainability. This lack of clarity has made investors cautious, with concerns of a potential escalation weighing on sentiment.
Further adding to the pressure, global oil prices surged sharply amid fears of supply disruptions. Brent crude jumped 4.72% to USD 94.65 per barrel, while WTI crude rose 5.51% to USD 88.47, intensifying inflation concerns and putting additional strain on equity valuations.
The Nifty 50 has rallied over 10% from its recent swing low of 22,182, decisively surpassing key moving average resistances at the 10-, 20-, and 50-DEMA levels. The index now eyes its next major hurdle: the 200 DEMA near 24,800.
On the downside, the 24,000–24,100 band offers short-term support, with positional support at 23,555—an ideal level for accumulating long positions.
Smaller caps have led the charge, with the Nifty Smallcap 100 and Microcap 250 surging 17% and 20%, respectively. However, this sharp run has pushed market breadth into extreme overbought territory on short-term frames—95% of NSE 500 stocks now trade above their 20 DMA, a historically rare signal.
Recommendation: Traders can book profits in smaller stocks at higher levels this week. Meanwhile, Nifty Energy, BSE Power, and Metal indices remain robust on charts and poised to sustain the broader bullish trend.
Action Construction Equipment share price recently surpassed 50 DEMA resistance and has been sustaining above that. Stock price has also broken out from downward sloping trend line on the daily chart. Construction and infra stocks have recently got bullish momentum after long period. Indicators and oscillators have turned bullish on the short term charts.
Moil share price has started forming higher tops and higher bottoms on the daily charts. After surpassing 50 DEMA, stock is now hovering near its 200 DEMA. Stock price formed bullish “Hammer” candlestick pattern on the monthly charts in the month of March 2026. Indicators and oscillators have been showing strength in this uptrend on the daily chart.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking 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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