Stock market today: Trade set up for Nifty 50 to Sensex, seven stocks to buy or sell on Friday — 19th April

Stock market today: As the Iran-Israel war continued to drag global markets, the Indian stock market finished lower for the fourth straight session on Thursday. The Nifty 50 index lost 152 points and finished at the 21,995 level. The BSE Sensex ended 454 points lower at the 72,489 level whereas the Bank Nifty index finished 415 points down at the 47,069 level. Except for IT, Metals & PSU Banks, all sectors ended in the red territory including the mid-cap and the small-cap indices.

Trade set up for stock market today

On the outlook for the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, "The positive chart pattern like higher tops and bottoms is intact. As long as Nifty sustains above 21700 levels, the chances of an upside bounce from the lows as per this pattern are likely. The short-term trend of the Nifty remains weak. There is a possibility of some more weakness down to 21800-21700 levels in the coming sessions. Immediate resistance is at 22125 levels."

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On the outlook for the Bank Nifty today, Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities said, "The Bank Nifty Index remains under bearish control, with any upward movements facing aggressive selling, highlighting a prevailing "sell on rise" sentiment among traders. The major resistance for the index is positioned at 48,000, where significant call-writing activity has been observed, indicating strong resistance at this level. The overall market tone continues to be bearish, and if the selling pressure persists, the index could test its next major support level at 46,500, where the 100-day exponential moving average (EMA) is located."

On the outlook for the Indian stock market today, Siddhartha Khemka, Head of Retail Research at Motilal Oswal said, "Overall we expect volatility to continue in the market in the absence of any major positive trigger, while focus will continue on stock-specific action amid earning season. Infosys and Bajaj Auto will be in the limelight as both companies declared their results on Thursday after the market close. On the global front, investors will watch out for US Existing home sales data."

Buy or sell stock ideas by experts

On stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher; and Drumil Vithlani, Technical Research Analyst at Bonanza Portfolio — recommended seven buy or sell stocks for today.

Sumeet Bagadia's stocks to buy today

1] Astra Microwave Products: Buy at ₹695, target ₹733, stop loss ₹975.

ASTRAMICRO Industries has recently exhibited a breakout from the critical resistance zone of ₹640 to ₹685 on the daily chart, consolidating the move with higher highs and higher lows. This breakout is supported by a notable increase in trading volume, indicating strong bullish sentiment.

2] KSB: Buy at ₹4507.75, target ₹4747, stop loss ₹4399.

KSB is exhibiting strong bullish momentum, currently trading at an all-time high of ₹4545.45 levels. The recent breakout above the crucial resistance at ₹4200 levels is a significant technical development, supported by robust trading volumes, reinforcing the strength in the stock. The breakthrough suggests a potential continuation of the upward trend, offering an optimistic outlook for investors.

Shiju Koothupalakkal's shares to buy today

3] Kalpataru Projects: Buy at ₹1177, target ₹1220, stop loss ₹1150.

The stock has witnessed a steady rise in the last 2-3 months with currently maintaining a positive bias has regained strength to anticipate for further rise in the coming sessions. The RSI is well placed and has the potential to carry on with the positive move further ahead. We suggest buying the stock for an initial target of ₹1220 level keeping the stop loss of ₹1150 level.

4] Eveready Industries: Buy at ₹353, target ₹370, stop loss ₹345.

The stock has witnessed huge volume participation with price action indicating improvement in the bias and further rise can be anticipated. The RSI is on the rise indicating strength and with much upside potential visible, can gain further. We suggest buying the stock for an initial target of ₹370 level keeping the stop loss of ₹345 level.

5] Century Textiles: Buy at ₹1806, target ₹1895, stop loss ₹1760.

The stock maintaining a strong trend has once again regained after the short dip, to continue with the upward move and anticipating a further rise in the coming sessions. The RSI has cooled off to some extent from the highly overbought zone and currently with strength indicated has the potential to carry on with the positive move further ahead. We suggest buying the stock for an initial target of ₹1895 level keeping the stop loss of ₹1760 level.

Drumil Vithlani's intraday stocks

6] Bharti Airtel: Buy at ₹1265 to ₹1266, target ₹1305, stop loss ₹1245.

Bharti Airtel is seen to be breaking out of an Ascending triangle on the daily time frame and making a Strong bullish candlestick which is why a buy recommendation is initiated for targets up to ₹1305 One can initiate a buy on a dip in the range of 1265-1266 with stop loss below ₹1245 on daily closing basis. The price is trading above the short-term EMA (20) indicating an uptrend in the security. The RSI is now trading in the northern direction supporting the price action.

7] Jio Financial Services: Buy at ₹377 to ₹378, target ₹388, stop loss ₹373.

Jio Financial Services share price is seen to be breaking out of range on the daily time frame and making a bullish candlestick which is why a buy recommendation is initiated for targets up to ₹388. One can initiate a buy on dip in the range of ₹377 to ₹378 with stop loss below ₹373 on a daily closing basis.

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