Following market improvement, investors are focusing on the impact of US reciprocal tariffs. Experts recommend buying BPCL, SAIL, and Indus Towers, with specified target and stop-loss prices.
Stock Market: After Tuesday's (April 1st) decline, the Indian stock market showed strength on Wednesday. The Nifty index closed at 23,332.35, while the Sensex also displayed a positive trend. Banking, FMCG, and real estate sectors played a significant role in this rally. Mid-cap and small-cap stocks also registered a rise of approximately 1.5%.
What will be the market's future direction?
Analysts believe that the "reciprocal tariffs" imposed by the US government and the global market's reaction could impact the Indian market. Furthermore, weekly expiry may also cause market fluctuations. Investors are advised to remain cautious and invest strategically. However, some select stocks still present good investment opportunities.
Investment recommendations for these stocks
1. BPCL (Bharat Petroleum Corporation Limited)
Current Price: ₹286.80
Target: ₹305
Stop-loss: ₹275 Bharat Petroleum shares have recently crossed the 200-day moving average, suggesting further potential upside. Strong volume and investor interest make this stock attractive for investment.
2. SAIL (Steel Authority of India Limited)
Current Price: ₹118.70
Target: ₹127
Stop-loss: ₹113 Recent strength in the metal sector has increased buying in SAIL shares. A b support level and increasing volume indicate a positive trend.
3. Indus Towers (Indus Towers Limited)
Current Price: ₹361.30
Target: ₹382
Stop-loss: ₹349 Indus Towers traded in the range of 315-370 over the past six months but has recently surpassed key levels. Increasing volume and breakout signals make this stock appear favorable for investment.
