The Indian stock market opened on a slightly negative note on 17 April but quickly reversed course to deliver one of the strongest intraday rallies in recent weeks, transforming a mild start into one of the most powerful rallies seen in recent sessions.
After opening with a slight gap-down, markets witnessed consistent buying throughout the day, turning the mood decisively bullish by the closing bell.
Also Read: Why an airline is building a hotel empire in India
Powered by renewed global optimism and robust domestic cues, the Nifty 50 not only recovered but surged past the critical 23,800 mark, signalling a potential shift in market tone from cautious to aggressively bullish.
Here are the best stock recommendations for Monday, 21 April, which you could consider trading in our view. Today’s picks are from the fertilizer and FMCG sectors.
The top three fertilizer stocks to buy today, recommended by Ankush Bajaj:
Rashtriya Chemicals and Fertilizers Ltd (current price: ₹139.00)
Why it’s recommended: The stock has given a classic double bottom pattern at the ₹112 level and later gave a breakout above ₹135, which also confirms a triangle pattern breakout. RSI and MACD are showing strong momentum, indicating bullish sentiment and continuation of the uptrend.
Key metrics: Breakout level: ₹135 | RSI: Trending bullish | MACD: Positive crossover
Technical analysis: A clean breakout backed by rising RSI and MACD crossover signals the continuation of the uptrend. The stock has the potential to reach its next resistance zone in the coming days.
Risk factors: Fertilizer stocks may face volatility due to government policy changes, raw material cost variations, or subsidy announcements.
Buy at: ₹139.00 | Target price: ₹155– ₹160 in 1–2 weeks | Stop loss: ₹132.00
National Fertilizers Ltd (current price: ₹85.40)
Why it’s recommended: The stock has given falling wedge breakout (upper channel) from ₹83 levels. Also, RSI on hourly chart is trading above 60, showing strong momentum and potential for further upside.
Key metrics: Breakout level: ₹83 | RSI: Above 60 | Pattern: Falling wedge breakout
Technical analysis: A falling wedge breakout supported by bullish RSI suggests short-term bullish continuation. The stock is likely to move toward its next resistance zone in the coming sessions.
Risk factors: Fertilizer stocks can be affected by government policies, subsidy delays, and raw material cost fluctuations.
Buy at: ₹85.40 | Target price: ₹91.50– ₹93.00 in 1–2 weeks | Stop loss: ₹81.30
Fertilizers and Chemicals Travancore Ltd (current price: ₹760.85)
Why it’s recommended: The stock has given a reversal Head and Shoulders breakout and also shown a falling wedge breakout on the daily chart. These dual bullish patterns indicate strong upside potential and a possible rally in the coming sessions.
Key metrics: Breakout levels: Reversal H&S and Falling Wedge | Chart: Daily | Pattern confirmation: Strong
Technical analysis: The combination of a reversal Head and Shoulders and a falling wedge breakout signals strong bullish sentiment. The setup is favourable for a short-term up move.
Risk factors: Being in the fertilizer sector, the stock may react to government subsidy changes, seasonal demand shifts, and raw material price movements.
Buy at: ₹760.85 | Target price: ₹800– ₹820 in 1–2 weeks | Stop loss: ₹734.00
Also Read: How does the Ecom Express buy position Delhivery for the future?
Top three FMCG stocks to buy today, recommended by Raja Venkatraman:
TATACONSUM
Look to go long above ₹1,125 and on any dips towards 1080 with stop below ₹1,040 for an upside towards ₹1,280 to ₹1,350 in next 3 months.
GODFRYPHLP
With steady upward drive seen in the last few weeks one can consider going long above ₹7,650 and on any dips towards ₹7,200 with stop below ₹7,100 for an upside towards ₹8,500 to ₹8,800 in next 3 months.
UBL
Go long at current levels and can also look to add at ₹2080 with a stop below ₹2060 for an upside towards ₹2300 -2350 in next 3 months.
Two stock recommendations by MarketSmith India for 21 April
Bank of Baroda (current price: ₹242.81)
Why it’s recommended:Strong financial performance, improving asset quality
Key metrics:P/E: 6.17; 52-week high: ₹ 299.70; volume: ₹102.50 lakh
Technical analysis:Reclaimed 200-DMA
Risk factors:Credit risk, market and economic risks
Buy at: ₹ 242.81 | Target price: ₹ 275 in 3 months | Stop loss: ₹ 226
Also read: Angel One’s March quarter hit by new Sebi curbs on F&O trading
State Bank of India(current price: ₹797)
Why it’s recommended:Robust credit expansion
Key metrics: P/E: 8.52; 52-week high: ₹ 912, volume: ₹ 270.34 lakh
Technical analysis: horizontal trendline breakout
Risk factors:Asset quality concerns, interest rate fluctuations
Buy at: ₹797 | Target price: ₹910 in 3 months | Stop loss: ₹745
About the authors:
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.”
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