Buy or sell stocks: The Indian stock market benchmarks, the Sensex and the Nifty 50, posted marginal gains on Monday, April 20, led by rising crude oil prices and ongoing uncertainty surrounding the US-Iran war.
The Sensex settled at 78,520.30, edging up by 27 points, or 0.03%, while the Nifty 50 closed at 24,364.85, up 11 points, or 0.05%. In contrast, mid- and small-cap stocks ended lower, lagging behind the benchmark indices.
Stock market today
Nifty 50
On 20th April 2026, the Nifty 50 opened on a flat-to-positive note at 24,391.50 and witnessed volatility on both sides during the session, marking an intraday high of 24,480.65 and a low of 24,241.25. The index traded largely in a range-bound manner throughout the day and eventually closed at 24,364.85, registering a marginal gain of 11.30 points or 0.05% over the previous close.
According to Sumeet Bagadia, Executive Director at Choice Broking, on the daily timeframe, the formation of a Doji candlestick pattern reflects indecision among market participants, suggesting that a breakout on either side of the range may determine the next directional move.
“From a technical perspective, immediate support is placed in the 24,150–24,200 range, while resistance is observed between 24,500 and 24,550 levels. The Relative Strength Index (RSI) stands at 57.24, holding above the midpoint of 50, indicating a mildly positive bias. In the derivatives segment, notable call writing was seen at the 24,500 strike, followed by 24,600, while significant put writing was observed at 24,300 and 24,200 levels, indicating near-term support zones,” said Bagadia.
Bank Nifty
The Bank Nifty index opened with a modest gap-up at 56,704.05 and traded within a defined range throughout the session, marking an intraday high of 57,085.10 and a low of 56,356.55. The index eventually closed at 56,582.35, registering a marginal gain of 16.65 points or 0.03% for the day.
Bagadia further noted that on the daily timeframe, the formation of a spinning top-like candlestick pattern indicates indecision and a balance between buyers and sellers, suggesting the need for a decisive breakout for further direction.
“From a technical standpoint, immediate support is placed in the 56,000–56,100 range, while resistance is seen in the 57,000–57,100 zone. The Relative Strength Index (RSI) stands at 56.11, sustaining above the midpoint level of 50 and indicating a slightly positive undertone. Sustaining above this level would be important to confirm further strength,” Bagadia added.
He further recommended investors to watch for a decisive breakout above resistance or breakdown below support levels before initiating fresh positions, as recent price action suggests a range-bound session with limited directional movement, reflecting indecision after the recent uptrend.
Sumeet Bagadia’s stocks to buy
Amid escalating tensions in US-Iran, Sumeet Bagadia recommends five shares to buy on Tuesday, April 21: CESC, MM Forgings, Rashi Peripherals, Siemens Energy India, and Grindwell Norton.
1] CESC: Buy at ₹179.4, Target ₹193, Stop Loss ₹170
CESC share price has recently shown a strong price expansion after a prolonged sideways phase, indicating fresh momentum entering the stock. It is currently trading around 179.4, with price action clearly moving above its recent consolidation band near 170. The stock has not only reclaimed all key moving averages but is also sustaining above them, reflecting a shift from neutral to bullish structure.
The steep rise in recent sessions suggests aggressive buying, supported by improving volume activity. RSI is trending in the higher zone, indicating strength but also hinting at short-term consolidation possibilities. Immediate support is placed near 170, which acts as a crucial stop-loss. If momentum sustains, the stock has the potential to move towards 193.
2] MM Forgings: Buy at ₹485, Target ₹525, Stop Loss ₹460
MM Forgings share price is displaying a strong bullish continuation after breaking out of its recent consolidation zone around 460. The stock is currently trading near 485 and has formed a sharp upward move backed by consistent higher lows, indicating sustained buying interest. Price has decisively moved above key moving averages, with shorter-term averages turning upward, reflecting strengthening trend momentum.
The recent surge also shows increased participation, suggesting that the breakout is supported by fresh buying rather than just short covering. RSI is trending upward, reinforcing the positive bias. Immediate support is placed near 460, which also acts as a logical stop-loss. A sustained move above current levels could drive the stock towards 525.
3] Rashi Peripherals: Buy at ₹474, Target ₹510, Stop Loss ₹450
Rashi Peripherals share price is showing a strong breakout-driven rally and is currently trading at fresh all-time high levels near 487.95, indicating sustained buying interest and a clear breakout from previous resistance zones near 450, with the stock currently trading around 474. The price structure indicates a clear shift into an uptrend, supported by a series of higher highs and higher lows.
The stock is comfortably trading above its key moving averages, which are now sloping upward, signaling sustained strength. The sharp recent upmove suggests strong momentum participation, although RSI is entering elevated levels, which may lead to minor consolidation in the near term. Volume expansion during the breakout phase adds confidence to the move. Immediate support is placed near 450, acting as a crucial stop-loss, while sustained strength could push the stock towards 510.
4] Siemens Energy India: Buy at ₹3138, Target ₹3400, Stop Loss ₹2980
Siemens Energy India share price is showing a strong recovery pattern after a prolonged correction, with the stock currently trading around 3138. The recent price action indicates a shift in sentiment as the stock has broken out of a consolidation range and is now attempting to establish a higher base.
It has moved above key short-term moving averages, suggesting improving momentum, while the broader trend is gradually turning positive. The formation of higher lows highlights accumulation at lower levels. RSI is trending upward, supporting the bullish bias, though some consolidation may occur after the sharp move. Immediate support is placed near 2980 which is also acted as 200-day Ema, and also as a crucial stop-loss. Sustaining above current levels could lead the stock towards 3400.
5] Grindwell Norton: Buy at ₹1627, Target ₹1750, Stop Loss ₹1550
Grindwell Norton share price is gradually gaining strength after a consolidation phase, with the stock currently trading around 1627. The price action suggests a steady upward move supported by consistent higher lows, indicating accumulation at lower levels.
The stock has recently moved above its short-term resistance zone near 1610, which now acts as a support area. It is also trading above key short-term moving averages, reflecting improving momentum, while approaching a crucial long-term resistance zone. RSI is trending upward, supporting the bullish outlook, though not in an overbought zone yet. Immediate support is placed near 1550, which also serves as a stop-loss. Sustained strength could push the stock towards 1750.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
