Buy or sell stocks: The Indian stock market saw robust buying activity on Wednesday, April 8, with benchmark indices Sensex and Nifty 50 surging nearly 4% higher, after Donald Trump announced that the United States would pause military operations against Iran for two weeks, with Tehran also agreeing to the ceasefire plan.
The Sensex jumped 2,946 points, or 3.95%, to settle at 77,562.90, while the Nifty 50 advanced 874 points, or 3.78%, ending at 23,997.35.
Stock market today
Nifty 50
On 8th April 2026, the Nifty 50 opened with a sharp gap-up at 23,855.15 and remained resilient throughout the session, witnessing minor early fluctuations and marking an intraday low of 23,828.50. Sustained buying interest across sectors supported the upward momentum, pushing the index to an intraday high of 24,025.15. The index eventually closed near the day’s high at 23,997.35, registering a strong gain of 873.70 points or 3.78% over the previous close.
According to Sumeet Bagadia, Executive Director at Choice Broking, on the daily timeframe, the formation of a bullish Marubozu-like candlestick pattern indicates strong buying conviction and minimal selling pressure, reflecting a decisive shift in sentiment in favour of the bulls.
“From a technical perspective, immediate support is placed in the 23,700–23,850 range, while resistance is observed between 24,080 and 24,200 levels. The Relative Strength Index (RSI) stands at 53.89, moving above the midpoint of 50, indicating strengthening momentum and improving bullish sentiment. In the derivatives segment, notable call writing was seen at the 24,000 strike, followed by 24,200, while significant put writing was observed at 24,000 and 23,800 levels, indicating near-term support zones,” Bagadia said.
Bank Nifty
The Bank Nifty index opened with a strong gap-up at 54,904.45 and witnessed minor early volatility, marking an intraday low of 54,797.50. However, sustained buying interest throughout the session led to a sharp upward move, pushing the index to an intraday high of 55,778.25. The index closed near its day’s high at 55,703.90, gaining 2,987.65 points or 5.67% for the day.
Bagadia noted that on the daily timeframe, the formation of a strong bullish candle reflects aggressive buying interest and strengthening market sentiment.
“From a technical standpoint, immediate support is placed in the 55,350–55,400 range, while resistance is seen in the 56,000–56,200 zone. The Relative Strength Index (RSI) stands at 53.41, indicating a move above the midpoint level of 50 and supporting improving momentum. Sustaining above this level would be important to confirm further strength.
The recent price action suggests a strong bullish breakout supported by broad-based participation and easing volatility. While the undertone remains firmly positive, the sustainability of this move will depend on follow-through buying and a decisive breakout above key resistance zones. Traders are advised to stay aligned with the trend and look for buying opportunities on dips, while monitoring price action near crucial levels,” he added.
Sumeet Bagadia’s stocks to buy
Amid the US-Iran war, Sumeet Bagadia recommends five shares to buy on Thursday, April 9: CG Power, Kirloskar Oil Engines, Bharat Heavy Electricals Limited, Dalmia Bharat, and ABB India.
1] CG Power: Buy at ₹285, Target ₹300, Stop Loss ₹273
CG Power share price is showing a strong technical setup, with the weekly chart indicating a firm bounce from the 50-week EMA, reinforcing underlying strength. On the daily timeframe, the stock has given a golden crossover and a breakout from a sideways range, while sustaining above the 200-day EMA support.
Momentum remains positive, as RSI has rebounded from the 50 level, signalling strengthening bullish momentum.
Traders may consider a buy at ₹726.30, with a target of ₹785 and a strict stop-loss at ₹690. Maintain disciplined risk management through proper position sizing and consider trailing stop-losses to protect gains.
2] Kirloskar Oil Engines: Buy at ₹1465.40, Target ₹1600, Stop Loss ₹1400
Kirloskar Oil Engines Limited share price is moving in a short-term uptrend, forming a consistent pattern of higher highs and higher lows, indicating sustained buying interest and a strong bullish price structure. Additionally, the stock has given a fresh breakout from a range-bound consolidation zone, supported by an increase in volume, which indicates strong participation and validates the breakout with potential for further upside momentum.
Based on this setup, traders may consider buying the stock at the current market price, with a stop loss placed at 1400 for risk management and an upside target of 1600.
3] Bharat Heavy Electricals Limited: Buy at ₹265.70, Target ₹288, Stop Loss ₹254
Bharat Heavy Electricals Limited (BHEL) share price has given a fresh breakout from a Parallel Channel pattern on the daily timeframe, indicating a potential for further upside momentum in the stock. The breakout suggests a shift from consolidation to expansion, supported by an improving price structure. Additionally, the opening of today’s session was very close to the day’s low, indicating strong buying interest throughout the session and limited downside pressure, which reflects bullish intraday sentiment.
The stock is trading firmly above all its key daily exponential moving averages, reflecting strong underlying momentum and a well-established bullish trend across multiple timeframes. This alignment signals sustained buying interest and reinforces the positive price structure. Based on this setup, traders may consider buying at the current market price (CMP), with a stop loss placed at 254 for effective risk management and an upside target of 288, while maintaining disciplined risk management to navigate any near-term volatility.
4] Dalmia Bharat: Buy at ₹1922.60, Target ₹2100, Stop Loss ₹1830
Dalmia Bharat share price has recently broken out of a sideways consolidation range after taking strong support at lower levels, indicating a revival in bullish momentum. The stock also holds firmly above its 200-week EMA on the weekly chart, reinforcing a positive long-term trend.
Momentum remains supportive, with RSI trending higher and sustaining above the breakout zone, suggesting continuation of the upmove.
Traders may consider a buy at ₹1922.60 with a strict stop-loss at ₹1830 and an upside target of ₹2100. Maintain disciplined risk management with appropriate position sizing and consider trailing stop-losses to protect gains.
5] ABB India: Buy at ₹6565, Target ₹7150, Stop Loss ₹6250
ABB India share price has given a fresh breakout from a rounding bottom pattern on the daily timeframe, indicating bullish uptrend momentum in the stock. In today’s session, the stock formed a bullish Marubozu-like candlestick pattern with very small wicks, indicating strong buying interest throughout the session and dominance of bulls with minimal selling pressure.
The stock is showing strength as it continues to trade above its key exponential moving averages, while also taking firm short-term support at the 20-day EMA, reflecting a strong underlying trend. The RSI stands at 64.71, remaining above the midpoint, which indicates healthy momentum and scope for further upside. Based on this constructive setup, traders may consider buying the stock at the current market price of 6565, with a stop loss placed at 6250 for prudent risk management and an upside target of 7150.
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.
