The concern about the tensions of global trade and expectations of potential tariff reductions by large central banks increased the overall market mood. Buying interest in important sectors, in particular in banking, metal, energy and car, has contributed to the profit of the day.
Best stock recommendations today | Two share choices from Marketsmith India:
Lux Industries (current price: £1,435.50)
● Why it is recommended: Robust domestic economy, the operational performance of the core, stable activa quality, targeted growth of loans.
● Important statistics: P/e: 23.70 | 52 weeks high: £2,493 | Volume: £21.15 Crore
● Technical analysis: Recovered 50 DMA after forming a rectangular base
● Risk factors: Intense competition in the indoor segment, volatility of the raw material price.
● Buy at: £1,400–1,440
● Target: £1,686 in three months
● Stop loss: £1.290
Axis Bank (current price: £ 1,114.05)
● Why it is recommended: Rising coal demand, government support and monopoly office
● Important statistics: P/e: 11.73 | 52 weeks high: £1,339,65 | Volume: £1,032 crore
● Technical analysis: Bullish flag Continuation pattern, 100-dma support
● Risk factors: Slow deposit growth, margin printing, external economic challenges.
● Buy at: £1,114
● Target: £1,255 in three months
● Stop loss: £1,040
Nifty 50: How the Benchmark -Index performed on April 15
On Tuesday, the Nifty 50 index extended its recovery and rose by 2.19%, from 23,328. The session started with a strong gap-up opening and maintained a steady upward trend during the day, acting within a range of 23,207-23,368. A bullish candle was formed on the daily map, which reflects an improved market sentiment. All sectoral indices ended in the Green, with the advance decision ratio with a solid 6: 1, which indicates broad sales support.
From a technical perspective, the index has re-tested its 100-day advancing average (DMA), but struggled to close it up, so that the session around that key level was terminated. The RSI is higher with a positive slope, while the MACD has shown a bullish crossover on the daily graph, which suggests that the momentum will be strengthened in the short term.
The Indian market has shifted from a downward trend to a rally attempt on Friday, because the Nifty was held for three sessions above the recent low point of 21,744. A follow -up day or a new high is needed to confirm an uptrend. However, if the Nifty infringes 21,744, the market will return to a downward trend.
The index recently tested its 100-dma, positioned around 23,390, which can act as a resistance level. If the index succeeds in recovering and acting the trade above this 100-DMA, it may drive the index to 23,800, followed by 24,200 level in the coming days. On the other hand, immediate support is almost 22,900-22,800 levels.
How did Nifty Bank perform?
The Nifty Bank continued its Bullish Momentum on Tuesday, rose 2.70% and closed near the high of the day after a strong gap-up opening. Heavyweight shares such as HDFC Bank and Icici Bank led the rally. The index formed a bullish candle on the daily graph and now acts well above all the most important advanced averages, which reflects a strong positive sentiment.
Momentum indicators support this strength, where the RSI trending is up around 64 and the MACD becomes positive and traded above the central line.
In accordance with O’Neil’s methodology for assessing the market feature, Nifty Bank moved from an “Uptrend under pressure” to a “confirmed uptrend” status.
In the future, the index is for immediate resistance near 52,500. A decisive outbreak and persistent trade above this level can continue to turn up to 53,500-54,000. However, not exceeding 52,500 can lead to consolidation in the short term.
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