Trade Call: 2 Buy/Sell Stock Picks By Chandan Taparia of Motilal Oswal On Monday, 15th April

Geo-political tensions between Israel and Iran, a weak opening in Asian markets and a sharp decline in the US market on Friday, may open the domestic market on a weak note on Monday. Media reported that the US President told Israel President US wouldn't take part in a counter-strike against Tehran. Gift Nifty declined over a half per cent or 130 points. Market trends would be determined by geopolitical factors, macroeconomic data, quarterly earnings and institutional activities in a holiday-shortened week ahead. Iran's reprisal attacks on Israel are unlikely to significant impact on the domestic equity market unless Israel responds, in which case crude oil prices could spike on supply disruptions, said Chandan Taparia, CMT, CFTe Derivatives & Technical Analyst at Motilal Oswal.

Nifty Outlook Today

"Nifty immediate support at 22350 then 22222 zones while resistance at 22775 then 22850 zones. Now it has to hold above 22500 zones to witness an up move towards 22775 and 22850 zones while on the downside support exists at 22350 and 22222 zones," said the analyst.

Bank Nifty Outlook Today

"Bank Nifty support at 48250 then 48000 zones while resistance at 49000 then 49250 zones. Now it has to continue to hold above 48500 zones to extend the momentum towards new life high of 49000 then 49250 zones while on the downside support is seen at 48250 and 48000 zones," Chandan Taparia added.

Stocks To Buy Today

Chandan Taparia, CMT, CFTe Derivatives & Technical Analyst at Motilal Oswal has recommended the below stocks to buy or sell on Monday, 15th April.

HAL

Buy at CMP: Rs 3638, stop-loss: Rs 3550, target: Rs 3820, duration: 2-3 days

HAL has given a consolidation breakout on daily chart and gave the highest weekly and daily close ever. Breakout is supported by the surge in volumes which may support the ongoing up move. It has formed a strong bullish candle on the daily chart and supports are gradually shifting higher. Momentum indicator RSI is positively placed which may take the prices higher.

The Defence Ministry issued Rs 65000 crore tender to HAL for made-in-India 97 LCA Mark 1A fighter jets. This is the largest order for indigenous military hardware to be placed by the central government ever. We believe that HAL is strongly placed to benefit from pick-up in execution of existing strong order backlog and robust pipeline, said Chandan Taparia.

NTPC

The ministry has projected 260 GW peak power demand this summer (April to June 2024). India will operationalize gas-based power plant to meet summer electricity demand. NTPC is likely to benefit from rising power demand. Also the company's subsidiary NTPC green has chosen four banks for its IPO worth Rs.10000cr said Chandan Taparia with a positive view on NTPC.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.