Buy or sell stocks: The Indian stock market remained under pressure for a second consecutive session on Monday, March 30, as benchmark indices BSE Sensex and Nifty 50 both slid more than 2%.
The Sensex tumbled 1,636 points, or 2.22%, to end at 71,947.55, while the Nifty 50 declined 488 points, or 2.14%, to close at 22,331.40. Over the two sessions, the Sensex has fallen a total of 3,326 points, or 4.42%, while the Nifty 50 has shed 975 points, or 4.18%.
Stock market today
Nifty 50
On Monday, the Nifty 50 index opened on a negative note with a gap-down at 22,549.65. During the first half of the trading session, the index reached an intraday high of 22,714.10. However, selling pressure persisted throughout the day. The index eventually touched an intraday low of 22,283.85 and finally settled at 22,331.40, registering a loss of 486.85 points (-2.14%). This movement reflects weak market sentiment and continued selling pressure.
On the Nifty 50 outlook, Sumeet Bagadia, Executive Director at Choice Broking, said, “From a technical perspective, the 22,150–22,200 range is identified as a crucial support zone for the index. On the upside, immediate resistance is placed between 22,450 and 22,500. The Relative Strength Index (RSI) is currently at 32.01, indicating that it remains near the oversold zone and momentum remains weak. A sustained move above the midpoint level of 50 would be required to signal any meaningful improvement in trend strength.
Bagadia further opined that traders should adopt a cautious to bearish approach around key support and resistance levels, given the current weak market structure and continued downside pressure.
“Any upward pullback toward resistance is likely to encounter selling interest. New directional trades should only be considered if the market sustains a move above the 24,000 mark, as this would signal a significant trend reversal and enhance overall market sentiment,” he added.
Bank Nifty
The Bank Nifty index also opened lower on 30 March 2026, with a gap-down at 51,527.90. The intraday high of 51,624.50 was recorded near the opening level, indicating immediate selling pressure. The index continued to face significant selling throughout the session, reaching a low of 50,105.25 before closing at 50,275.35. This marks a sharp decline of 1,999.25 points (-3.82%) in today’s session.
On the Bank Nifty outlook, Bagadia said, “Technically, the index is expected to find support in the 49,900–50,000 range, while resistance is placed between 50,500 and 50,600. The RSI stands at 28.44, indicating that the index remains in the oversold zone, reflecting strong selling pressure and weak momentum. A sustained upward reversal from these levels would be necessary to confirm any improvement in the trend.”
Sumeet Bagadia’s stocks to buy
Sumeet Bagadia recommends five shares to buy on Wednesday, April 1: GlaxoSmithKline Pharmaceuticals, Ipca Laboratories, RHI Magnesita India, Sammaan Capital, and KSB.
1] GlaxoSmithKline Pharmaceuticals: Buy at ₹2283, Target ₹2420, Stop Loss ₹2217
GlaxoSmithKline Pharmaceuticals Ltd is currently trading around ₹2283 and is holding firmly above its support zone. This support coincides with the 50-month EMA, while on the weekly timeframe, the stock is also sustaining above its 200-week EMA—indicating underlying strength in the broader trend.
The RSI is at 34.41 and is exhibiting a bullish divergence, suggesting weakening downside momentum and the possibility of a reversal or upward move.
For short-term traders, current levels may present a buying opportunity, with a stop loss placed at ₹2217 and a target of ₹2420, while ensuring disciplined risk management is followed.
2] Ipca Laboratories: Buy at ₹1601.20, Target ₹1710, Stop Loss ₹1547
Ipca Laboratories share price is currently trading around ₹1601 and is exhibiting a sustainable reversal, forming a higher-high, higher-low structure—suggesting the emergence of a short-term uptrend. The stock has taken strong support near last month’s high and has formed a bullish hammer on the weekly timeframe, indicating buying interest at lower levels and potential trend continuation.
If the stock experiences a minor pullback toward ₹1577, it would indicate a healthy retracement within the ongoing uptrend, offering a possible entry opportunity. Short-term traders may consider buying at current levels, with a stop loss at ₹1547 and a target of ₹1710, while maintaining prudent risk management.
3] RHI Magnesita India: Buy at ₹337.85, Target ₹375, Stop Loss ₹323
RHI Magnesita India share price is currently trading around ₹337.85 and has taken support from the low formed on 22nd November 2021, suggesting a strong historical support base and potential price stability at current levels. The stock is also showing a bullish divergence on the daily timeframe, indicating weakening selling pressure and the possibility of a trend reversal. Additionally, the RSI is at 30.60 on the daily chart, reflecting oversold conditions and a potential for a bounce.
Downside support is placed near ₹330, marking a strong demand zone and limiting near-term downside risk. Healthy volumes further validate the strength of the move. Short-term traders may consider buying at current levels, with a stop loss at ₹323 and a target of ₹375, while maintaining prudent risk management.
4] Sammaan Capital: Buy at ₹149.52, Target ₹160, Stop Loss ₹144.82
Sammaan Capital share price is displaying early signs of a bullish reversal after recovering nearly 15% from its recent low, indicating strong accumulation and increasing buying interest. The stock has formed a fourth consecutive green candle, reflecting sustained bullish momentum and continued demand.
It has also moved above its 20-day and 50-day DEMAs, showcasing a positive crossover and trend alignment, which reflects improving strength and constructive price structure. The ₹148 level is expected to act as a strong downside support. Short-term traders may consider buying near ₹149.52, with a stop loss at ₹144.82 and a target of ₹160, while maintaining disciplined risk management.
5] KSB: Buy at ₹796.85, Target ₹850, Stop Loss ₹774
KSB share price is currently trading around ₹796.85 and has given a breakout above the falling trendline, reflecting a potential trend reversal and the emergence of bullish momentum. On the daily timeframe, the stock is witnessing healthy consolidation near the 20 DEMA, showcasing strength and continuation of the ongoing uptrend.
The RSI at 59.19 indicates improving momentum and bullish bias, with room for further upside. Short-term traders may consider initiating long positions at current levels, with a stop loss at ₹774 and an upside target of ₹850, while maintaining disciplined risk management.
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.
