Markets
Top stock picks by market experts: Recommended stocks to buy on 7 April
Summary
Discover the top stocks recommended by Ankush Bajaj, Raja Venkataraman, and MarketSmith India for Monday, 7 April.
Three FMCG stocks to buy today, as recommended by Ankush Bajaj:
Buy: Marico (current price: ₹677)
Why it’s recommended: MACD is trending up and RSI is rising, indicating bullish momentum on the hourly chart.
Key metrics: RSI: Rising, MACD crossover bullish, 52-week high: ₹736
Technical analysis: Bullish structure forming on the hourly chart; momentum indicators support continued upside.
Risk factors: FMCG sector sensitivity to input cost fluctuations and rural demand trends.
Buy at: ₹677
Target price: ₹704– ₹710 in 2–3 weeks
Stop loss: ₹668
Buy: Tata Consumer (current price: ₹1,088)
Why it’s recommended: On the hourly chart, the stock has given a rectangle pattern breakout. It is also trading above multiple EMAs, indicating strength in the current uptrend.
Key metrics: RSI: Strong above 60, Volume spike on breakout, 52-week high: ₹1,152
Technical analysis: Rectangle breakout confirms bullish bias; price holding above key short and long-term EMAs suggests sustained momentum.
Risk factors: Volatility in input prices and consumer sentiment trends may impact short-term moves.
Buy at: ₹1,088
Target price: ₹1,168– ₹1,180 in 2–3 weeks
Stop loss: ₹1,045
Buy: Colgate-Palmolive (current price: ₹2,423)
Why it’s recommended: On the hourly chart, the stock has broken out of the upper channel of a falling wedge pattern. RSI and MACD are both supporting bullish momentum, indicating potential for further upside.
Key metrics: RSI: Above 60, MACD crossover bullish, 52-week high: ₹2,525+
Technical analysis: Falling wedge breakout confirmed; price action and momentum indicators signal strength with potential to test and surpass recent highs.
Risk factors: FMCG sector sensitivity to margin pressures and rural demand volatility.
Buy at: ₹2,423
Target price: ₹2,510– ₹2,525 in 2–3 weeks
Stop loss: ₹2,380
Also read: EM earnings brace for tariff wrath
Stocks to consider amid tariff challenges, recommended by NeoTrader’s Raja Venkatraman
COFORGE
One should consider going long at dips near ₹5,500-5,550 with a stop below ₹4,900 for a rise towards ₹7,500 in the next 3 months.
PERSISTENT
With a ‘buy’ possibility unfolding if these levels are held, consider some upside towards ₹5,200 in the next 3 months as long as the ₹3,900 level holds on the downside.
ZENSARTECH
Any reaction into support zones around ₹610-620 could be a good support zone to buy into this stock for a rise to ₹800 with a stop at ₹580 in the next 3 months.
Also read: Tariffs may singe retail, HNI investors as Gift Nifty signals 2.4% drop on Monday
Two stock recommendations by MarketSmith India
Buy: Marico Ltd (current price: ₹677.3)
Why it’s recommended: Established market leadership, consistent and resilient financial performance
Key metrics: P/E: 52.43, 52-week high: ₹ 736.90, volume: ₹ 40.42 Lakh.
Technical analysis: Retesting downward-sloping trendline breakout on the daily chart
Risk factors: Macroeconomic factors, climate change, and environmental risks
Buy at: ₹ 677.3 | Target price: ₹750 in 3 months | Stop loss: ₹640
Buy: Gujarat Ambuja Exports Ltd (current price: ₹ 116.55)
Why it’s recommended: Consistent financial performance, strong balance sheet, and low debt
Key metrics: P/E: 16.44, 52-week high: ₹ 187.10, volume: ₹ 77.51 Lakh.
Technical analysis: Trendline breakout and reclaimed its 50-DMA on above average volume
Risk factors: Exposure to agricultural commodity risks, foreign exchange rate volatility
Buy at: ₹ 116.55 | Target price: ₹135 in 3 months | Stop loss: ₹108
Also read: Looking for a Nasdaq ETF? GIFT City may be about to make it easy
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
MarketSmith India: Trade name: William O'Neil India Pvt. Ltd. Its Sebi-registered research analyst registration number is INH000015543.
"Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions."
