Copyright © HT Digital Streams Limit all rights reserved. Markets Ankush Bajaj 5 min Read 17 Apr 2025, 05:30 IST Expert Shares: Ankush Bajaj recommends three shares for April 17. Summary Best Stocks To Buy Today: Discover the expert shares of Ankush Bajaj for April 17. Get insights into the best performing stocks and informed investment decisions. The Indian stock market opened on Wednesday, April 16, on a slightly subdued note after a strong rally in the previous two sessions. Despite the beginning of the gap, the indices gradually climbed higher throughout the day, supported by selective buying and improved global clues. While bullish sentiment continues to build up to the US tariff break, the markets begin to show signs of cautious optimism rather than uncontrolled euphoria. Top Three PSU bank shares to buy today are recommended by Ankush Bajaj Buy: Indian Bank (Current Price: £ 568.00) Why It Is Recommended: The Stock Give a Strong Outbreak of Above £ 555, confirming the Bullish Momentum. On the lower timeframe, RSI is inclined to upwards and the price is traded above multiple key -moving averages, which indicate strength. Important Statistics: Outbreak Level: £ 555; RSI: Trending Bullish; Moving averages: The above key short and long-term EMAS-technical analysis: A Break-up supported by rising RSI and support of multiple moving averages indicates a continuation of the upward trend. The stock has the potential to achieve its next resistance zone in the coming days. Risk factors: PSU banks may face volatility due to changes in interest rates, credit growth -prospects or regulatory decisions. Buy at: £ 568.00 Target Price: £ 587- £ 592 in 1-2 weeks Stop loss: £ 557 Read also | Icici Prudential: Street is buying the hope of the margin recovery: Bank of India (current price: £ 115.50) Why it is recommended: The share has given a £ 111 triangle pattern outbreak, indicating that a bullish is reversal. On the hourly chart, ADX trades above 35, indicating a strong trend strength and continuing momentum. IMPORTANT STATISTICS: Outbreak level: £ 111 (triangle pattern); ADX: above 35 (bullish); Trend: Positive Technical Analysis: An explanation of a well-formed triangle pattern, supported by a strong ADX lecture, points to a possible upward rally. The stock shows signs of trend -proof setting. Risk factors: PSU bank shares can be influenced by credit policy changes, NPA problems and sector-specific reforms. Buy at: £ 115.50 Target Price: £ 125- £ 128 in 1-2 weeks Stop loss: £ 111 Buy: Bank of Baroda (Current Price: £ 240.80) Why It Is Recommended: The Stock Give a Bullish Pennant outbreak of the £ 235 level, indicating the continuation of a return. On the lower timeframe ADX is trading at 33 and RSI above 67 – both indicate a strong bullish momentum. IMPORTANT STATISTICS: Outbreak level: £ 235 (Bullish Pennant); ADX: 33 (trending); RSI: Above 67 (Bullish) Technical Analysis: The Bullish Pennant Breakout, combined with a rising RSI and supporting ADX, confirms strong trend transport. The stock is ready to test its next resistance levels soon. Risk factors: PSU banks can respond to regulatory policy shifts, market sentiment or broader economic indicators. Buy at: £ 240.80 Target Price: £ 250 -£ 252 in 1-2 weeks Stop loss: £ 235 Market on April 16: Mood moved to cautious optimism to light starts the BSE Sensex rose by 0.40, adding 309.40 points to set at 77,044,29, while the NIF -NIFF scored 50,20.20.65. Nifty Bank exceeded, by 1.41% higher at 53,117,75, increased by positive developments in credit growth and softer returns on the global effects. Until the Nifty closes more than 23,800, some nervousness will still remain among the market participants. The undertone remains positive, but traders are watching the key resistance levels closely before declaring a full -fledged breakdown. Sectoral trends: Most sectors get, but upside down moderates, unlike the blanket meetings of the previous sessions, were more moderate and selective on Wednesday, reflecting a slightly more tempered tone in the market. Most major sectors closed in the green, led by a strong momentum in finance and energy. The PSU Bank index had the profits above the profits, with 2.37% on the expectations of improved credit and inflationary wind winds. Banking supplies followed by 1.41% profits, while the oil and gas index rose 1.33%, powered by steady crude prices and macro feather in China. Also read: Havells India ensures its growth strategy with an interest in Goldi Solar, but a few sectors have closed in the red, which is an indication of profit discussion and sectoral rotation. The motor index fell 0.43%, while Pharma and Healthcare closed 0.18% lower when traders became cautious about defensive bets. Stock-specific highlights: Bulls hold land, despite minor setbacks Wednesday’s stock-specific actions were more balanced than euphoric, with 48 of the 50 Nifty shares included in the green, indicating a strong underlying support. Indusind Bank expanded its rally and jumped 7.11% on heavy institutional flow. Axis Bank and Ongc achieved 4.36% and 3.67% respectively, driven by favorable sectoral trends and renewed investor confidence. On the other hand, Maruti and Hindalco finished 1.61% and 1.25% respectively with profit discussion. Tata Motors also dropped 0.99%as investors booked profits after a recent rally. The Indian stock market prospects on the daily map closed Nifty above the 200 EMA (23,360) – an important bullish signal. In addition, RSI trades over 55, which is an indication of the growing strength in momentum. Take a look at the full image source: Tradeview The following important resistance level to look at is 23.600. A daily close above this level can cause a strong upward rally in the upcoming sessions. Summary near 200 EMA = Bullish RSI> 55 = Positive Momentum key level to watch = 23.600 (spot) near this = potential outbreak Rally view Full Image Source: Tradeview also reads: £ 30,000 crore in the market cap. Blame Zomato and Policybazaar. “> Info Edge has dumped £ 30,000 crore in the market cap. Blame Zomato and Policybazaar. As discussed yesterday, the market still shows a bullish sentiment supported by both open interest (OI) and technical indicators. We saw a strong rally on Wednesday, and my spot-lev for NIFTY is 23,600 23.300, which suggests a scope of these levels. Live Mint.
-
-
-
-
