Stock Market Indian stock market to remain volatile today amid escalating Iran-Israel tension: Experts
Mumbai/IBNS: The market experts believe that the Indian stock markets could remain volatile on Monday (Apr 15) amid the escalating geopolitical tensions between Iran and Israel.
The stock market is expecting a potential impact as the investors will continue to monitor the development between Israel and Iran this week.
According to market experts, investors are expected to remain on their toes as they navigate the escalating geopolitical crisis in the Middle East after Iran launched an unprecedented drone attack on Israel overnight on Sunday (Apr 14).
Amid the Iran-Israel conflict and the Foreign Institutional Investors (FII)'s selling, the Indian stock market witnessed a sharp selling on Friday last week, before it was closed.
On Friday, correcting 234 points, the Nifty 50 index ended at the 22,519 level, while the BSE Sensex nosedived 793 points and closed at the 74,244 mark.
Shedding 422 points, the Bank Nifty index closed at the 8,564 level.
Meanwhile, in the broad market, the small-cap index dipped 0.60 percent whereas the mid-cap index went down 0.49 percent.
On Monday (Apr 15), the benchmark Sensex and Nifty indices are likely to open on a negative note on Monday (Apr 15) as trends in the GIFT Nifty indicate a weak start for the broader index with a gain of 134.50 points.
Amid a broad-based selloff, the indices faced a significant 1 percent decline on April 12.
Investor sentiment was dampened by US CPI inflation data, which dashed hopes of a June rate cut and led to a surge in treasury bond yields, according to reports.
The pivot point calculator indicates that the Nifty 50 index may take immediate support at the 22,498 level followed by 22,446 and 22,360 levels, while on the higher side, the index may face resistance at the 22,540 level followed by the 22,721 and 22,806 levels.
Seven top stocks to buy or sell today as recommended by market experts:
1. IRCTC: Buy at ₹1057.65, target ₹1103, stop loss ₹1030.
2. Aegis Logistics: Buy at ₹480.25, target ₹502, stop loss ₹464.
3. Nahar Industrial: Buy at ₹128.55, target ₹140, stop loss ₹125.
4. Westlife Foodworld: Buy at ₹826, target ₹862, stop loss ₹810.
5. Chalet Hotels: Buy at ₹875.75, target ₹912, stop loss ₹858.
6. Concord Biotech: Buy at ₹1560 to ₹1565, target ₹1680, stop loss ₹1500.
7. Hindustan Aeronautics Ltd or HAL: Buy at ₹12,850 to ₹12,875, target ₹13,500, stop loss ₹12,550.
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