Shares to buy or sell: Rajesh Palviya of Axis Securities suggests THESE three stocks to buy, hold, and accumulate today | Stock Market News

Stock market today: The key domestic indices, Nifty 50 and Sensex, began the day with little change on Friday, reflecting a standoff between the bullish and bearish factions in the market.

The Nifty 50 index commenced at 23,600.40 points, showing a modest rise of 8.45 points (0.04 percent), while the BSE Sensex started at 77,690.69 after gaining 84.26 points (0.11 percent).

Analysts noted that the Indian markets are currently benefiting from favorable domestic macroeconomic conditions and are anticipating a resolution to global challenges. Following the announcement of US tariffs on auto imports, the European automotive industry association reported that automakers in Europe with manufacturing operations in the US export 60 percent of their US production to other nations.

Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, mentioned that the market’s strength, in spite of Trump’s threats of reciprocal tariffs, is fueled by renewed investments from foreign institutional investors (FIIs), which has boosted the bulls’ confidence. Currently, the bears are at a disadvantage, and this market dynamic may persist unless Trump makes a particularly concerning announcement.

In addition to the tariffs, the market is also awaiting the monetary policy announcement on April 9th, followed by the Q4 earnings reports. Today’s US PCE inflation data could provide insight into the inflation trend in the United States. However, what will be of greater significance is the inflationary expectations resulting from the tariffs imposed by Trump.

Share Market Tips and Nifty 50 Outlook by Rajesh Palviya, SVP – Technical and Derivatives Research, Axis Securities

Nifty 50

The benchmark index has continued its upward move, forming a series of higher highs and lows, which indicates a positive trend. The index is well placed above its 20, 50 and 100-day SMA, which signal bullish sentiments. On the upside, the index is expected to extend its rally towards the 24,000-24,200 levels. The crucial support zone is located around the 23,400-23,200 levels.

Avenue Supermarts Ltd (DMart) Cmp: ₹4, 070

Over the past 3-4 weeks, the Avenue Supermarts share price has experienced a “V” shape recovery, indicating the fastest recovery. This rally is supported by rising volumes, which signify increased participation. The stock is well placed above its 20, 50, and 100-day SMAs, which reconfirms bullish sentiments. The daily and weekly “band Bollinger” buy signal signifies increased momentum. The daily and weekly RSI strength indicators are in favourable territory, indicating rising strength.

Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹4,300-4,450, and its downside support zone is the ₹3,930-3,850 levels.

Gabriel India Ltd Cmp: ₹587

The Gabriel India share price is in a strong uptrend at all time frames, forming a series of higher tops and higher bottoms, indicating bullish sentiment. The stock has surpassed its multiple-month resistance zone of 540 levels on a closing basis, indicating a strong breakout. The stock is well-positioned above its 20-, 50-, 100-, and 200-day SMAs, and these averages are also inching up along with the rising price, which reconfirms a positive bias. The weekly Bollinger Bands buy signal signifies increased momentum. The daily, weekly, and monthly RSI strength indicators are in favorable territory, indicating rising strength.

Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹630-685, and its downside support zone is the ₹560-540 levels.

Mazagon Dock Shipbuilders Ltd Cmp: ₹2,710

On the daily chart, the Mazagon Dock Shipbuilders share price has confirmed a “rounding bottom” formation at the 2600 level on a closing basis, indicating a continuation of the prior uptrend. The stock is well-positioned above its 20-, 50-, 100-, and 200-day SMAs, and these averages are also inching up along with the rising price, which reconfirms a positive bias. The huge volumes over the past couple of weeks signify increased participation. The daily and weekly RSI strength indicators are in favorable territory, indicating rising strength.

Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹2,950-3,100, and its downside support zone is the ₹2,600-2,510 levels.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.