Buy or sell stocks on 6 April 2026: The Indian stock market witnessed high volatility during the shortened week (Mar 30–Apr 2), impacted by geopolitical tensions, rising crude oil prices, a weakening rupee, and continued FII outflows. The market ended FY26 on a weak note, with the Sensex falling 1,635 points (2.22%) and the Nifty dropping 2.14%, led by broad-based selling across sectors.
The new fiscal year (FY27) began on a strong rebound, supported by global cues and hopes of de-escalation in the US-Iran war, with the Sensex gaining 1.65% and the Nifty rising 1.56%, led by banking, IT, and auto stocks. However, gains were partially reversed on April 2 as uncertainty resurfaced following US remarks on the conflict, dragging indices lower again. Overall, the week highlighted fragile sentiment, with geopolitical and oil-related risks continuing to dominate market direction despite intermittent recovery.
Outlook for the Indian stock market today
Sumeet Bagadia, Executive Director at Choice Broking, believes the complete filling of the initial gap-down by the key benchmark indices of the Indian stock market indicates sustained demand at lower levels. The Choice Broking expert said the Nifty 50 index is facing hurdles at 22,800 and 23,000, respectively, while it has found support at 22,600 to 22,500 levels.
Speaking on the outlook for the Nifty 50 index, Sumeet Bagadia said the 50-stock index recovered and closed in positive territory at 22,713, despite a weak opening on Thursday. On the daily timeframe, the complete filling of the initial gap-down indicates sustained demand at lower levels.
“The immediate support for the index is placed in the 22,450–22,500 range, while resistance is observed between 22,840 and 22,900 levels. The Relative Strength Index (RSI) is currently at 37.56, remaining below the midpoint of 50, which suggests that the momentum lacks strong conviction,” said Bagadia.
The volatility index, India VIX, rose by 2.04% to close at 25.52, indicating a mild increase in market volatility.
“In the derivatives segment, notable call writing was observed at the 22,800 strike, followed by the 23,000 strike. On the put side, significant writing activity was seen at the 22,500 and 22,600 strike levels, highlighting key support zones,” Sumeed Bagadia of Choice Broking said.
Sumeet Bagadia’s stock recommendations today
Regarding stocks to buy on Monday, Sumeet Bagadia recommended these three buy-or-sell stocks: Tata Consumer Products, BEL, and ACME Solar Holdings.
1] Tata Consumer Products: Buy at ₹1042, Target ₹1105, Stop Loss ₹1000.
Tata Consumer is currently trading near ₹1042. On the daily chart, the stock has formed a bullish engulfing candlestick pattern near the bottom, suggesting a potential reversal from lower levels, supported by emerging buying interest.
The recent price action suggests the stock is stabilising after a corrective phase, with the ₹1000 zone acting as a strong demand area. Although the stock is still trading below its short-term moving averages (20 & 50 EMA), the current setup hints at a possible pullback.
2] BEL: Buy at ₹421, Target ₹450, Stop Loss ₹399.
BEL is currently trading near ₹421. On the weekly chart, a bullish candlestick pattern has formed, suggesting the continuation of the prevailing uptrend. The stock maintains a strong price structure, which reflects sustained buying interest over time. The recent price action indicates a healthy consolidation near important support levels and near the 100-day key EMA zone.
The stock is also well positioned above its key moving averages, reinforcing the underlying strength of the trend. From a momentum perspective, RSI is trending near the 52 zone, indicating steady bullish momentum.
3] ACME Solar Holdings: Buy at ₹274, Target ₹294, Stop Loss ₹264.
ACME Solar is witnessing a strong recovery after a prolonged corrective phase, currently trading around ₹274. The stock has rebounded sharply from the ₹235 zone, where key EMAs are aligned and have provided support, indicating renewed buying interest and a potential trend reversal setup.
Technically, the stock has reclaimed its key moving averages, signalling improving short- to medium-term strength. The recent breakout above the ₹260 resistance band confirms bullish momentum, supported by consistent higher highs and higher lows. The structure suggests early stages of an uptrend, with momentum indicators also trending positively.
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.
