Best stock recommendations today: MarketSmith India’s top picks for 15 April

Indian stock market's benchmark index, Nifty 50, remained volatile through the week, weighed down by global and domestic uncertainties. A sharp sell-off in global markets followed US President Donald Trump’s announcement of new trade tariffs, dragging Indian equities lower. 

However, sentiment improved in the latter half after the Reserve Bank of India (RBI) cut the repo rate by 25 basis points and signaled an accommodative stance. Hopes of renewed global trade negotiations also helped lift market mood, aiding a partial recovery by week’s end.

Best stock recommendations today | Two stock picks by MarketSmith India: 

Buy: Bajaj Consumer Care Ltd (current price: ₹168.27)

● Why it’s recommended: Rural demand recovery, margin expansion expected, dtrong brand value, product diversification

● Key metrics: P/E: 17.39, 52-week high: ₹ 289, volume: ₹ 4.89 Lakh

● Technical analysis: Reclaimed its 50-DMA after forming a rectangular base

● Risk factors: Dependence on single product category, intense competition, slower growth

● Buy at: ₹ 168.27

● Target price: ₹ 202 in three months

● Stop loss: ₹ 155 

Buy: Coal India Ltd (current price: ₹ 392.1)

● Why it’s recommended: Rising coal demand, government support and monopoly advantage

● Key metrics: P/E: 6.79, 52-week high: ₹ 543.55, volume: ₹ 61.86 lakh

● Technical analysis: 100-DMA retake

● Risk factors: Receivables and credit exposure, challenges to cash flow and liquidity, management, subsidiary defaults.

● Buy at: ₹ 392.1

● Target price: ₹ 450 in three months

● Stop loss: ₹ 370 

How the Nifty 50 performed on Friday, 11 April: 

Nifty 50 extended its recovery on Friday, 11 April, gaining 1.92% to close at 22,828. The index opened on a positive note at 22,695 and maintained a steady uptrend through the session, trading within a narrow range of 22,600–22,900. 

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A bullish candle on the daily chart signalled improving sentiment, with all sectoral indices closing in the green. The advance-decline ratio stood strong at 5:1, reflecting broad-based buying interest.

Technically, the Nifty 50 remains below all key moving averages on the daily chart but is inching closer to its 50-DMA. The Relative Strength Index has turned upward, currently near 48, suggesting early signs of momentum, though it hasn’t confirmed a breakout. The moving average convergence divergence (MACD) continues to trade below the central line with a negative crossover.

The market has shifted from a Downtrend to a Rally Attempt, with Nifty holding above its recent low of 21,744 for three consecutive sessions. A follow-through day or a breakout to a new high is needed to confirm a return to an Uptrend. A breach below 21,744 would indicate a resumption of the Downtrend.

The index is approaching a key resistance zone between 22,950 and 23,000—levels that coincide with the 50-saily moving average (DMA). A sustained move above this range could open the door for a rally toward 23,400. Immediate support lies at 22,400.

How did the Nifty Bank perform? 

Nifty Bank staged a strong rebound on Friday, rising 1.52% to close at 51,002. The rally was driven by the RBI’s accommodative policy stance and short-covering activity. 

The index opened with a gap-up at 50,634, touched an intraday high of 51,244, and formed a bullish candle on the daily chart—reclaiming its 200-DMA in the process.

Despite a volatile week, Nifty Bank closed near the weekly high, trimming its weekly loss to around 1%. Notably, it held above the 50-week moving average (WMA) on a closing basis—a positive technical signal.

Momentum indicators present a mixed picture. The RSI has edged up to 56, suggesting mild strength, while the MACD remains on a downward slope with a negative crossover, indicating caution.

According to O’Neil’s market direction methodology, the broader trend is currently classified as an “Uptrend Under Pressure”, reflecting rising distribution signals and increasing volatility—both of which warrant a careful approach.

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For a confirmation of bullish momentum, the index must decisively hold above the 51,000 mark. A sustained move beyond this level could trigger further upside toward the 52,000–52,200 zone. On the downside, key support is seen near 50,000, a level critical to watch in the near term.

MarketSmith India is a stock research platform and advisory service focused on the Indian stock market.

Trade name: William O'Neil India Pvt. Ltd. (Sebi Registered Research Analyst Registration No.: INH000015543)"

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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.