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Apr 06, 2026, 08:37:14 PM IST
Stock Ideas
Nifty ended strongly on Monday, continuing its winning streak to the third session in a row. Following back-to-back rallies, the 50-stock index has formed a bullish candle with a long lower shadow.
Nilesh Jain, Vice President - Head of Technical and Derivative Research at Centrum Finverse said the overall structure is gradually turning positive, suggesting a continuation of the upward move towards 23,200, followed by 23,400 levels. "Support has also shifted higher to the 22,500 zone. The momentum indicator RSI has started forming a higher top and higher bottom pattern and has crossed the 40 mark, indicating improving sentiment. However, India VIX remains elevated around 25, and a cooling-off in volatility would be essential for sustained bullish momentum," Jain said.
Here are 5 stocks to buy:
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2/6
Buy Granules India at Rs 645 | Upside: 6%
Stop Loss: Rs 623
Target: Rs 685
GRANULES has given a strong bullish breakout above a descending trendline, indicating a shift from consolidation to an uptrend. The stock is trading above key moving averages (20/50/100 EMA), which are positively aligned, confirming trend strength. Rising volumes support the breakout, reflecting strong buying interest. Price structure shows higher highs and higher lows, reinforcing bullish momentum. RSI around 60–65 suggests strength without
overbought conditions, leaving scope for further upside. The breakout zone is likely to act as support. Overall, the setup favors buying on dips, with expectations of continued upward movement in the near term.
(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)
ETMarkets.com
3/6
Buy BOB at Rs 260 | Upside: 8%
Stop Loss: Rs 249
Target: Rs 282
Bank of Baroda is showing early signs of a potential reversal after a sharp correction, with price taking support near a strong demand zone and forming a short-term bounce. The stock is currently trading below key moving averages, indicating that the broader trend remains weak, but a relief rally is developing. RSI near 40 suggests the stock is recovering from oversold conditions, supporting a technical pullback. Overall, traders can consider buying on dips with strict risk management, as the trend is in a transition phase from bearish to neutral.
(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)
IANS
4/6
Buy RBL Bank at Rs 317 | Upside: 6%
Stop Loss: Rs 304
Target: Rs 336
The stock has witnessed a strong consolidation breakout on the daily chart, supported by a notable expansion in trading volumes, indicating renewed buying interest. Momentum has further strengthened as RSI has confirmed a bullish crossover in line with the breakout. Additionally, the stock has closed above its 20-day and 50-day simple moving averages, forming a bullish candlestick pattern. This confluence of price action, momentum, and moving average support suggests a positive bias, with potential for further upside in the near term.
(Vatsal Bhuva, Technical Analyst at LKP Securities)
ETMarkets.com
5/6
Buy Adani Green at Rs 920 | Upside: 4%
Stop Loss: Rs 890
Target: Rs 960
The stock has exhibited strong bullish momentum, closing above its recent swing high with a long bullish candlestick, indicating aggressive buying interest. The breakout is supported by improved participation, while RSI has confirmed a bullish crossover, reinforcing positive momentum. Additionally, the stock has reclaimed its 50-day SMA, signaling a strengthening trend structure. Going ahead, the momentum is likely to sustain, and the stock may witness further upside towards the 960 zone, where its 100-day moving average is placed, acting as an immediate resistance level.
(Vatsal Bhuva, Technical Analyst at LKP Securities)
6/6
Buy Kalyan Jewellers at Rs 419 | Upside: 5%
Stop Loss: Rs 403
Target: Rs 442
The stock has confirmed a breakout from a falling channel pattern on the daily chart, indicating a potential trend reversal. Momentum remains strong, with RSI in a bullish crossover and sustaining above the 60 mark, reflecting improving strength in price action. Additionally, the stock has moved above its 20-day and 50-day moving averages, reinforcing the positive bias. Going ahead, the upward move may extend further, with the stock likely to test the 442 zone, where the 100-day moving average and a key resistance trendline are placed.
(Vatsal Bhuva, Technical Analyst at LKP Securities)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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