Stock Options: Sagar Doshi of Nuvama suggests that Balrampur Chini, PCBL Chemical, Bikaji Foods today - April 2, 2025 | Einsmark news

The stock market today: The domestic benchmark indices, Nifty 50 and Sensex, climbed slightly at the start of the trading on Wednesday after their worst performance in a month during the previous session, with caution that prevailed, as investors expected the latest tariff announcements of US President Donald Trump. By 9:15, the Nifty 50 rose 0.12% to reach 23,192,6, while the Sensex rose 0.16% to 76,146,28. Dr. VK Vijayakumar, investment strategist at Geojit Investments Limited, mentioned that the uncertainty around reciprocal rates is expected to decline with today’s announcement. However, due to Trump’s previous rates, this uncertainty is likely to continue beyond today. It seems that the decision of the foreign institutional investors (FIIS) to become net buyers in the last days of March was influenced by the end of the year end. The short cover caused by FII purchases contributed to the strong performance of India in March. Since FIIs now sell £ 10,255 crores in the cash market for two days, the short sale resumed. This trend was clearly in the sharp drop of 353 points in the Nifty 50 yesterday. Nifty 50 Outlook by Sagar Doshi, Senior Vice-President Research, Nuvama Professional Clients Group Nifty 50, which rose nearly 1,900 points from its 9-month low in March, Nifty 50 has now withdrawn 38.2% of this move on Fibonacci retracement scale. Given the price action on Nifty 50 yesterday, it could take up 50% of this entire 1,900 points rally due to jitters on the tariff news. The index still holds above the six -month trend line seen on weekly maps, and this setback is just a re -test of the same. The broader trend remains on dipping and levels of 24,000 can soon be seen by the end of this month. Markets are nervous before implementing the tariff as well as RBI MPC next week. For now, 22,900 -23,000 zone is seen as a strong support for Nifty 50. Bank Nifty in accordance with Nifty 50, Bank Nifty, as well as about 1.5% in Tuesday’s session. Bank Nifty re -tested its 200DMA -Sub 51,000 point after completing its initial targets at 51,650, which we highlighted last week. The index leaned forward in a charge of – a step back and two step forward. Any dips between 49,900 and 50,400 are likely to be purchased for a strong stir in the direction of 52,500, given the better danger of the index against Nifty 50 over the past 6 months. Bank Nifty has been less than 4% of 10% on Nifty 50 over the past 6 months. Stock options: Shares to buy on Wednesday – Sagar doshi on shares to buy Wednesday, Sagar Doshi of Nuvama recommended three shares – Balrampur Chini Mills Ltd, PCBL Chemical Ltd, and Bikaji Foods International Ltd. Bal disaster Chini Mills Ltd (Buy): LCP: £ 556.95; SL: £ 532; TGT: £ 596 With stock breaking above its 200 DMA resistance in the past two weeks, the share price of Balrampur Chini Mills also gave an outline above the sloping trend resistance that confirms a flag pattern on daily charts. The consolidation above its 200 DMA before resuming the move forward confirms the presence of buyers for an expected stir in the next few trading days to 600 ODD. PCBL Chemical Ltd (Buy): LCP: £ 423.90; SL: £ 405; TGT: £ 470 higher, higher low formation seen on maps of PCBL chemical, with the stock above its recent dynamic resistance on the 200 DMA. Skrip is about to give a fresh momentum outline as soon as it starts trading above the 430 resistance created by a downward sloping trend line. A quick move of 10% can unfold from the current setup at which the stock holds. Bikaji Foods International Ltd (Buy): LCP: £ 691.95; SL: £ 665; TGT: £ 760 Bikaji share price gave an outline of a 6 -month falling trend resistance. In the past 4-6 weeks of trading, stocks have shown strong signs from bottom by taking support at 25-month support on weekly charts and the formation of lower highlights on daily charts. Given the base formation and the momentum pressure, the stock can jump another 8-10% of CMP to strangely strike its 200 DMA resistance above 760. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions. Catch all the business news, market news, news reports and latest news updates on Live Mint. Download the Mint News app to get daily market updates. Business NewsMarketsstock Marketsstock Picks: Sagar Doshi from Nuvama suggests that Balrampur Chini, PCBL Chemical, Bikaji Foods today – April 2, 2025 More Less less