Stocks to buy on 8 April: The domestic benchmark indices, Nifty 50 and Sensex, rose on Tuesday, April 7, driven by gains in technology stocks ahead of the quarterly earnings reports, while fears regarding the escalation of the Middle East conflict ahead of US President Donald Trump’s deadline for Iran to negotiate kept investors on edge.
Investors are anticipating the Reserve Bank of India’s policy announcement scheduled for Wednesday, April 8 its first since the onset of the conflict.
The Nifty 50 increased by 0.68% to reach 23,123.65, and the Sensex rose by 0.69% to 74,616.58, marking two consecutive sessions of gains.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart is showing a positive start for the Indian stock market today. By 7:28 AM, the Gift Nifty was trading around 23,805 level, a premium of 654 points from the Nifty futures’ previous close of 23,151.10.
Decoding the impact of Gift Nifty live chart and other triggers on Dalal Street, Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth said that Indian markets are set for a strong gap-up opening, with Gift Nifty rebounding sharply to the 23,800 zone after a weak overnight trend. The shift reflects a decisive improvement in global risk sentiment following a temporary de-escalation in West Asia tensions.
The key trigger is the announcement of a two-week pause in US military action, alongside Iran’s agreement to facilitate safe passage through the Strait of Hormuz. This has significantly reduced immediate concerns around energy supply disruptions, which had been a major overhang for global markets.
Global cues have turned firmly supportive. US markets have moved higher, while Asian markets like Japan and South Korea are witnessing sharp gains, indicating a broad-based risk-on sentiment. The easing of geopolitical stress has led to a sharp fall in global crude oil prices, which is particularly positive for India from both inflation and currency perspectives.
Stocks to buy today
Regarding stocks to buy today — Raja Venkatraman is Co-founder of NeoTrader, and stock research platform MarketSmith India, recommended buying these five shares: Natco Pharma Ltd, Godawari Power and Ispat Ltd, KPIT Technologies Ltd, and Thangamayil Jewellery Ltd.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman
Best stocks to buy today (All Buy trades are rates of equity and sell rates are based on F&O)
Natco Pharma Ltd (CMP ₹1,082.40)
Natco Pharma Ltd: Buy above ₹1,085 | Stop ₹1,005 target | ₹1,220 (multiday)
Why it’s recommended: Natco Pharma Ltd is a Hyderabad-based, vertically integrated Indian pharmaceutical company founded in 1981, specialising in complex generics, oncology (cancer drugs), and active pharmaceutical ingredients (APIs). The steady rounding pattern forming has ignited fresh bullish momentum. As trends unfold, the recent charge is seen hovering above the 155 region, suggesting the push could carry prices higher. The momentum is also seen as reviving, ably supported by volumes, inviting us to go long.
Technical analysis: Support at ₹138, resistance at ₹185.
Risk factors: High revenue volatility due to reliance on specific, lumpy product launches (e.g., gRevlimid), intense regulatory scrutiny in US and international markets.
Target price: ₹1,220 (2 Months)
Godawari Power & Ispat Ltd (CMP ₹284.85)
Godawari Power and Ispat Ltd: Buy above ₹285 | Stop ₹275 | Target ₹310 (multiday)
Why it’s recommended: Godawari Power & Ispat Ltd (GPIL), is an integrated steel manufacturer in Chhattisgarh, specializing in producing sponge iron, iron ore pellets, steel billets, wire rods, HB wire, ferroalloys, and operates captive power plants. A sharp reaction into the TS & KS bands, followed by a subsequent recovery, forming a nice rounding formation. A steady hold of the lower levels around the TS & KS bands augurs well for some upside if the market rebounds. A rise in the DI indicates we can initiate a long opportunity here, aiming for higher levels. Go long now.
Technical analysis: Support at ₹270, resistance at ₹325.
Risk factors: Industry cyclicality, exposure to raw material price volatility, and risks associated with their large capital expenditure plans.
Target price: ₹310 (2 Months)
KPIT Technologies Ltd (CMP ₹707.85)
Why it’s recommended: KPIT Technologies Ltd (KPITTECH) is a leading independent Indian multinational engineering research and development (ER&D) firm, specializing in automotive software and mobility solutions. The trends show a revival, as the recent range has been surpassed, and selling pressure is seen receding, which is bringing a positive reaction. A long-bodied candle seen here highlights the possibility of heading higher, as bullish momentum is increasing. With the RSI showing some positive charge, we can look to initiate a long opportunity for a push to higher levels. Go long now.
Technical analysis: Support at ₹625, resistance at ₹800.
Risk factors: Business is primarily centred on its high concentration in the automotive sector, exposure to the European/US market, macroeconomic volatility in its key markets, and increased competition, all of which affect its profit margins.
Target price: ₹781 (2 Months)
Two stock recommendations by MarketSmith India
Buy: Natco Pharma Limited (current price: ₹1,082)
Why it’s recommended: Strong presence in niche generics, focus on complex & oncology drugs, high-margin product portfolio, consistent export growth (U.S. market), strong R&D capabilities, healthy balance sheet, limited competition in key products, and strategic partnerships/licensing deals
Key metrics:
P/E: 11.93, 52-week high: ₹1,096.50, volume: ₹333.53 crore
Technical analysis: Cup-with-handle breakout
Risk factors: High dependence on the U.S. market, regulatory risks (US FDA observations), earnings volatility from lumpy launches, patent litigation risks, pricing pressure in generics, concentrated product portfolio, currency fluctuation impact, and dependence on a few key drugs
Target price: ₹1,220 in two to three months
Buy: Thangamayil Jewellery Limited (current price: ₹3,862)
Why it’s recommended: Strong brand in Tamil Nadu market, consistent revenue growth, aggressive store expansion plans, benefit from shift to organised jewellery sector, improving financial profile (equity infusion), healthy return ratios (RoCE improvement), strong earnings growth track record, and value-for-money positioning
Key metrics:
P/E:48.18, 52-week high: ₹4,149.00, volume: ₹57.08 crore
Technical analysis: Reclaimed its 50-DMA
Risk factors: High dependence on gold prices volatility, geographical concentration (Tamil Nadu), high working capital requirements, high debt impacting ROE quality, intense competition in the jewellery sector, regulatory risks in the gold/jewellery business, margin pressure due to expansion costs, and revenue concentration in gold jewellery
Target price: ₹4,290 in two to three months
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.
