Markets
Top stock picks by market experts: Recommended stocks to buy on 8 April
Summary
Discover the top stocks recommended by Raja Venkataraman, Ankush Bajaj, and MarketSmith India for Tuesday, 8 April.
Three stocks to buy today, recommended by NeoTrader’s Raja Venkatraman
SANOFI: Buy above ₹5,980 and dips to ₹5,850, stop ₹5,800 target ₹6,500-6,750
Buy: SANOFI (current price: ₹5,972.35)
Why it’s recommended: Positive traction has been seen in select pharma stocks in the past few weeks. The rise in the positive Directional Index clearly indicates the trends could persist for the next few days.
Key metrics: P/E: 44, 52-week high: ₹10,525, volume: 15.66k
Technical analysis: Support at ₹5,540, resistance at ₹6,500
Risk factors: Dependence on global supply chains for raw materials and manufacturing can pose risks during disruptions
Buy at: ₹5,980 and dips to ₹5,850
Target price: ₹6,500-6,750 in three months
Stop loss: ₹5,800
ASTERDM: Buy above ₹477, stop ₹465; target ₹520-540
Buy: AsterDM (current price: ₹475.80)
Why it’s recommended: After a disappointing 2025, prices were seen reviving from lower levels with some genuine buying to generate upward traction. Now with the stock at lower levels, we are once again seeing steady buying interest emerge.
Key metrics: P/E: 3.5, 52-week high: ₹558, volume: 1.32M
Technical analysis: Support at ₹400, resistance at ₹520
Risk factors: Operating in multiple countries exposes the company to varying healthcare regulations and compliance risks.
Buy at: ₹477
Target price: ₹520-540 in 3 months
Stop loss: ₹465
BALRAMCHIN: Buy CMP and on dips to ₹520, stop ₹515, target ₹580-600
Buy: BalramChin (current price: ₹536.10)
Why it’s recommended: A strong set of supports are now enabling a recovery. As buying interest emerged at lower levels and with the market showing some upward spirit, we can consider a long opportunity.
Key metrics: P/E: 27, 52-week high: ₹692, volume: 316.16k
Technical analysis: Support at ₹431, resistance at ₹610
Risk factors: Fluctuations in domestic and international sugar prices can significantly impact revenue.
Buy at: CMP and dips to ₹520
Target price: ₹580-600 in 3 months
Stop loss: ₹515
Three stocks to buy today, as recommended by Ankush Bajaj
Buy: Hindustan Unilever (current price: ₹2,249)
Why it’s recommended: The stock is ready to take a triangle breakout at the ₹2,260 level. If it crosses, we might see ₹2,350 coming soon. Also, the RSI on the hourly chart is at 53, indicating bullish momentum.
Key metrics: RSI: 53 (bullish), Triangle breakout near ₹2,260, 52-week high: ₹2,711
Technical analysis: Price consolidating in a triangle pattern; a breakout above resistance could trigger a strong upside. RSI and price action support bullish continuation.
Risk factors: Consumer sector may face volatility due to inflation, raw material costs, and changing consumption trends.
Buy at: ₹2,249
Target price: ₹2,350– ₹2,370 in 2–3 weeks
Stop loss: ₹2,198
Buy: Delhivery (current price: ₹268.35)
Why it’s recommended: Hourly RSI at 63 indicates bullish momentum. The stock has given a falling wedge breakout at ₹264, and despite a bearish market yesterday, it rallied 3.69% — showing relative strength.
Key metrics: RSI: 63 (bullish), Falling wedge breakout at ₹264, Recent rally: +3.69% in weak market conditions
Technical analysis: Breakout from falling wedge pattern supported by increasing volume. RSI and price action signal strong short-term upside potential.
Risk factors: Logistics sector volatility due to fuel price fluctuations and economic activity trends.
Buy at: ₹268.35
Target price: ₹284– ₹288 in 2–3 weeks
Stop loss: ₹262
Buy: Power Finance Corp (current price: ₹396)
Why it’s recommended: Stock recovered sharply in yesterday’s market fall, showing strong relative strength. Hourly RSI is above 60, indicating bullish momentum. Additionally, if we draw a channel from the recent high of ₹420, the stock has closed above that channel—suggesting a possible gap-fill rally today.
Key metrics: RSI: Above 60 (bullish), Channel breakout above ₹396, Recent high: ₹420
Technical analysis: Bullish breakout from a descending channel with momentum indicators supporting further upside. Price action suggests potential gap-fill move toward ₹412+.
Risk factors: Sector linked to interest rate cycles and government policy announcements.
Buy at: ₹396
Target price: ₹412– ₹418 in 2–3 weeks
Stop loss: ₹386
Also read: FMCG's Q4 woes: Why India's consumer goods giants are expecting a dull quarter
Two stock recommendations by MarketSmith India:
Buy: Godrej Consumer Products (current price: ₹1,160)
Why it’s recommended: Defensive sector, strong brand portfolio, rural & tier-2/3 market penetration
Key metrics: P/E: 61.24, 52-week high: ₹ 1,542, volume: ₹ 51.14 cr.
Technical analysis: Possible horizontal trendline breakout
Risk factors: High dependency on the insecticides segment, emerging market volatility
Buy at: ₹ 1,160
Target price: ₹ 1,350 in 3 months
Stop loss: ₹ 1,080
Buy: Hindustan Unilever Ltd (current price: ₹ 2,249)
Why it’s recommended: Strong brand portfolio, extensive distribution network, domestic consumption-facing sector
Key metrics: P/E: 50.85, 52-week high: ₹ 3,035, volume: ₹ 34.35 cr.
Technical analysis: Possible horizontal trendline breakout and 50-DMA retake
Risk factors: Raw material price volatility, currency, and geopolitical risks
Buy at: ₹ 2,249
Target price: ₹ 2,500 in 3 months
Stop loss: ₹ 2,150
Also read: Rubber barons: These small caps make a fortune from discarded tyres. Should you invest?
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
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."
