Raja Venkatraman, MarketSmith recommend five stocks for 6 April

Stocks to buy on 6 April: The domestic equity markets were shut on Friday, April 3, on account of Good Friday.

On Thursday, April 2, the major indices, Nifty 50 and Sensex, recovered from previous losses as the rupee gained strength following measures taken by the central bank, although decreasing hopes for a swift resolution to the situation in Iran prolonged the downturn to six consecutive weeks.

The Nifty 50 finished 0.15% higher at 22,713.1, while the Sensex rose by 0.25% to 73,319.55 after experiencing a drop of over 2% earlier in the day.

What Gift Nifty live chart signals?

The Gift Nifty Live Chart is showing a negative start for the Indian stock market today. By 7:30 AM, the Gift Nifty was trading around 22,611.5 level, a discount of 155 points from the Nifty futures’ previous close of 22,766.60.

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 expected to open on a muted note, with Gift Nifty pointing towards a flat start around the 22,690–22,700 zone. After a brief three-day pause, markets return to full trading with sentiment still anchored to global developments, particularly evolving tensions in the Middle East.

Asian cues remain mildly supportive, with Japan and South Korea trading higher, although broader participation is limited due to regional holidays. However, the underlying tone remains cautious after fresh geopolitical rhetoric over the weekend. Comments from US President Donald Trump indicating potential escalation if key supply routes are not restored have kept risk appetite in check. This continues to keep crude oil and global uncertainty as dominant drivers for markets, according to Hariprasad.

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: Adani Power Ltd, Anand Rathi Wealth Ltd, Mphasis Ltd, TD Power Systems Ltd, and Acme Solar Holdings Ltd.

Adani Power (CMP ₹159.97)

Adani Power Ltd: Buy above 160, stop 151, target 175 (Multiday)

Why it’s recommended: Adani Power Ltd, part of the Gautam Adani-led Adani Group, is India's largest private thermal power producer with an operational capacity of 17,550 MW. They mainly focus on long-term power purchase agreements. Recently included in the F&O segment, it has ignited some fresh bullish momentum. As the trends unfold, the recent charge is seen 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.

Key metrics:

P/E: 30.07,

52-week high: ₹182.70,

Volume: 59.83M

Technical analysis: Support at ₹138, resistance at ₹185.

Risk factors: Potential slow AUM growth and pressure on fee yields. Market volatility, foreign institutional investor (FII) outflows, and currency fluctuations.

Buy: above ₹160.

Stop loss: ₹151.

Target price: ₹175 (2 Months)

Anand Rathi Wealth (CMP ₹3,208.20)

Anand Rathi Wealth Ltd: Buy above ₹3,210, stop ₹3,070 target ₹3,450 (Multiday)

Why it’s recommended: Anand Rathi Group is a leading Indian financial services provider. It provides a wide spectrum of services, including wealth management, investment banking, stockbroking, and non-banking financial services (NBFC). A sharp reaction into a TS & KS bands and a subsequent recovery forming a nice rounding formation revival. 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.

Key metrics:

P/E: 87.20,

52-week high: ₹3,321.40,

Volume: 3.75M.

Technical analysis: Support at ₹2,300, resistance at ₹2,600.

Risk factors: Regulatory and compliance risks, technical glitches, system outages, cyberattacks, and stock valuation risk.

Buy: above ₹3,210

Stop loss: ₹3,070

Target price: ₹3,450 (2 Months)

Mphasis Ltd (CMP ₹2,209.90)

Mphasis: Buy above ₹2,210, stop ₹2,110 target ₹2,410 (Multiday)

Why it’s recommended: Mphasis Ltd is a Bengaluru-based, multinational IT services and consulting company, specializing in cloud and cognitive services. They focus on financial services, insurance, and logistics. The trends are demonstrating a revival as the recent range has been surpassed, and the selling pressure is seen receding, inducing a positive reaction. The long-bodied candle seen here suggests a potential move higher, as bullish momentum is increasing. With the RSI showing some positive charge, we can look to initiate a long position to push to higher levels. Go long now.

Key metrics:

P/E: 50.48,

52-week high: ₹1,624,

Volume: 450.01K.

Technical analysis: Support at ₹2,100, resistance at ₹2,600.

Risk factors: High concentration in the North American financial services sector, macroeconomic volatility in its key markets, and increased competition, all of which affect its profit margins.

Buy : above ₹2,210

Stop loss: ₹2,110

Target price: ₹2,410 (2 Months)

Two stock recommendations by MarketSmith India

Buy: TD Power Systems Ltd(current price: ₹866)

Why it’s recommended: Strong presence in the industrial generators segment, export-oriented revenue diversification, improving order book visibility, focus on niche, high-margin products, healthy balance sheet with low debt, beneficiary of capex cycle revival, consistent return ratios (ROE/ROCE), and strategic global partnerships

Key metrics: P/E: 61.36, 52-week high: ₹933.00, volume: ₹60.25 crore

Technical analysis: Downward sloping trendline breakout

Risk factors: Cyclical nature of capital goods sector, dependence on industrial capex demand, order execution delays risk, exposure to forex fluctuations, competitive pressure from global players, customer concentration risk, margin volatility due to input costs, and limited scale compared to larger peers

Buy: ₹870–885

Target price: ₹1,000 in two to three months

Stop loss: ₹818

Buy: Acme Solar Holdings Limited (current price: ₹274.4)

Why it’s recommended: Strong renewable energy sector tailwinds (India focus), among the top renewable IPPs in India, large and diversified project portfolio (solar, wind, hybrid), long-term PPAs ensure revenue visibility, strong capacity expansion pipeline, integrated EPC + O&M capabilities, improving revenue and profit growth trend, and diversified geographical presence across states

Key metrics: P/E:77.29 52-week high: ₹1,052.00, volume: ₹8.25 crore

Technical analysis: Reclaimed its 200-DMA on above-average volume

Risk factors: Capital-intensive business model, high debt due to project financing, execution delays in large projects, dependence on government policies, counterparty risk (state DISCOMs), tariff pressure in competitive bids, renewable generation variability risk, interest rate, and refinancing risk

Buy at: ₹272–276

Target price: ₹305 in two to three months

Stop loss: ₹260

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.