Shares to buy or sell: Sachin Gupta of 5paisa recommends IndiGo, OFSS Futures today - 8 April 2025

Stock market today: Indian stock indices began Tuesday positively following a steep decline on Monday. At the start of trading, the Sensex stood at 74,331.00, rising by 1,193.10 points or 1.63 percent, while the Nifty 50 increased by 385.50 points or 1.74 percent to reach 22,547.10.

All sector indices opened in the positive, demonstrating strong investor confidence a day after the market dropped sharply due to tariffs imposed on India by the US administration under Donald Trump.

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, indicated that the current heightened uncertainty and volatility affecting global markets is likely to persist for a while longer. There are several important points to consider from the ongoing turmoil. First, the trade conflict will probably remain limited to the US and China, while other nations like the EU and Japan have opted for dialogue.

India has already commenced talks regarding a Bilateral Trade Agreement (BTA) with the US. Second, the probability of a recession occurring in the US has risen. Third, China is expected to suffer the most significant economic impact. Trump's warning of imposing an additional 50% tariff on Chinese goods, if enacted, would nearly halt Chinese exports to the US. Fourth, China may resort to offloading its products, such as metals, in other markets, which will likely keep global metal prices low. Investors may remain in a cautious, observant stance as it will take time for a clearer perspective to develop.

Market Review and Outlook - Sachin Gupta, Senior Research Analyst at 5paisa

On Monday, the Indian stock market saw a steep sell-off, with both the BSE Sensex and Nifty 50 suffering significant declines. During intraday trading, both indices dropped by as much as 5%, before making a partial recovery. The BSE Sensex ended the day at 73,137.90, down 2,227 points or 2.95%, while the Nifty 50 closed at 22,161.60, falling 743 points or 3.24%. This marked the largest single-day drop in the last 10 months.

The sharp fall was primarily driven by global market instability, triggered by US President Donald Trump’s tariff hikes and China’s retaliatory actions, raising fears of a potential global economic slowdown.

The Nifty 50 is currently under substantial downward pressure, with technical indicators pointing toward the possibility of further declines in the short term. Traders and investors should closely monitor key support levels, as a breach of these could result in deeper losses. However, if these support levels hold, a short-term recovery is possible, especially with the RSI showing oversold conditions. Caution is recommended, with a focus on these critical levels to guide trading decisions in the coming days. For coming days, near term support and resistance levels are 21,660/21,349 and 22,663/22,974.

Shares to buy or sell today on Tuesday- Sachin Gupta

On shares to buy or sell on Tuesday, Sachin Gupta recommends InterGlobe Aviation Ltd (IndiGo), and Oracle Financial Services Software Ltd Futures (OFSS Futures).

InterGlobe Aviation Ltd (IndiGo)

On the weekly chart, the stock is in a bullish formation and showing positive momentum, suggesting the continuation of the uptrend. On the daily chart, the stock has bounced off the support at the 50-day EMA, indicating bullish strength in the short term. High volume activity and an RSI also signal a positive direction for the prices.

Therefore, we expect a bullish move in IndiGo in the short term. Traders can look to buy around ₹4,988, with a stop loss at ₹4,820, and a potential target of ₹5,165 and ₹5,290.

Oracle Financial Services Software Ltd

On the daily chart, the stock has continued its breakdown from the bearish flag pattern, indicating further downside potential. Additionally, the price has remained below the 100-day EMA, accompanied by a negative crossover in the RSI, signaling a bearish trend in the near term. Furthermore, the price has fallen below the 100-week SMA.

Based on this technical setup, traders are advised to adopt a “sell on rise”; strategy for Oracle Financial Services Software futures around ₹7,450, with a stop loss at ₹7,670, targeting downside levels of ₹7,220 and ₹7,050.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.