Stocks To Buy Today: Intraday BUY/SELL Calls By Sumeet Bagadia On Tuesday, 1st April

Following a record five consecutive monthly drops from October to February, benchmark indices concluded FY25 on a positive note with a significant rebound in March amid a resurgence in foreign investors. The major indices, the Sensex and the Nifty, finished at 77,414.92 and 23,519.30 at the conclusion of the week, respectively. Interestingly, the Bank Nifty did better, rising over 2% to close the week at 51,564.81. An important indicator of market volatility, the India VIX, fell 4.38% to 12.71, suggesting less uncertainty. Market conditions are anticipated to have a positive undertone with modest volatility as long as VIX stays below 15. The result of the ongoing US-India trade talks and the new global macro regime for FY26 will be actively watched by the market.

Nifty Outlook Today

"On the daily chart, Nifty exhibits a higher high and higher low formation, strengthening its bullish momentum. The index is comfortably positioned above the 20, 50, and 100 EMAs, while the daily RSI remains steady above the 60 mark, indicating sustained strength. The support levels include the 23.6% Fibonacci retracement at 23,500, offering minor support, while a more substantial cushion is placed at the 38.2% retracement level at 23,280. Nifty may consolidate for some time before making its next decisive move," said Om Mehra, Technical analyst, SAMCO Securities.

Bank Nifty Outlook Today

"The broader trend remains firmly bullish, as the index holds above all key moving averages. After a strong upward trajectory, Nifty Bank appears poised for a healthy consolidation, which could establish a solid support base before its next leg higher. The support remains at 51,000. while resistance stands at 52,100. A buying on dips remains a viable strategy for the upcoming session," Om Mehra commented.

Stocks To Buy Today

Sumeet Bagadia, executive director of Choice Broking, advised purchasing two stocks on Tuesday, April 1st, considering the impact of plenty of forthcoming events, including S&P Global Manufacturing PMI, S&P Global Manufacturing PMI, US ADP Nonfarm Employment Change report, US Initial Jobless Claims report, US Nonfarm Payrolls and Unemployment Rate data and auto sales numbers for the month of March 2025.

Sumitomo Chemical India

Buy SUMICHEM in Cash @ Rs 559.35, Stop-loss @ 540, Target @ 599

SUMICHEM is currently trading at ₹559.35, displaying strong upward momentum. The stock has rebounded from lower levels, forming a higher high and higher low pattern with a robust bullish candlestick, signaling strength in the ongoing trend. It has also broken out of a short-term consolidation phase, reinforcing the prevailing bullish sentiment. The recent breakout above the ₹550 resistance level suggests the potential for further appreciation, with a near-term target of ₹599 if the current momentum sustains.

Furthermore, SUMICHEM is trading comfortably above its 20-day, 50-day, and 200-day Exponential Moving Averages (EMAs), further strengthening the positive outlook. The Relative Strength Index (RSI) stands at 71.91 and continues to trend higher, indicating increasing buying momentum.

On the downside, immediate support is observed at ₹550, while a stop-loss at ₹540 is recommended to mitigate risk. Given the favorable technical setup and strong market indicators, SUMICHEM presents a compelling buying opportunity. Traders may consider entering at ₹559.35 with a target of ₹599 while adhering to disciplined risk management strategies.

Transformers and Rectifiers (India)

Buy TARIL in Cash @ Rs 536.2, Stop-loss @ 515, Target @ 570

TARIL is currently trading at 536.2 and remains in a strong bullish trend, forming higher highs and higher lows. The stock has sustained its upward momentum following a breakout from previous resistance levels. Recent price action indicates continued strength, with the stock holding above key support zones. The price action suggests that TARIL has established a firm upward trajectory, reclaiming lost ground after a period of consolidation and correction.

The exponential moving averages (EMAs) confirm the bullish outlook, with the 20-day EMA positioned above the 50-day, 100-day, and 200-day EMAs. This alignment indicates strong upward momentum and robust support at lower levels. If the stock successfully surpasses its recent high, it has the potential to reach a short-term target of 570.

On the downside, immediate support is located at 515. The Relative Strength Index (RSI) is currently at 67.77 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 515 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, TARIL presents a promising buying opportunity for those aiming for a 570 target, provided that appropriate risk management strategies are in place.

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.