Stock recommendations for 28 April from MarketSmith India
Subscribe to enjoy similar stories.Stock market recap: The market rally on Monday, 27 April, was driven by sectoral recoveries and easing geopolitical tensions. Sun Pharmaceutical Industries surged more than 7%, leading Nifty gainers after announcing an $11.75 billion acquisition of Organon.
The IT sector also rebounded, with the Nifty IT index rising nearly 2% as stocks such as Infosys, Wipro, and Tech Mahindra recovered on bargain buying after recent declines. Investor sentiment improved on reports of possible de-escalation in West Asia, including signals that Iran may reopen the Strait of Hormuz.
Volatility eased sharply, with the India VIX falling more than 6% to below 19, indicating reduced market fear. Broader markets outperformed, with the Nifty Smallcap 100 gaining 1.9% and the Midcap 100 rising 1.5%, pointing to broad-based participation.Buy: Sarda Energy & Minerals Ltd (current price: ₹613)Buy: Can Fin Homes Limited (current price: ₹915)Nifty 50 performance on 27 AprilNifty 50 opened on a positive note and sustained buying interest throughout the session, closing higher.
It opened at 23,945.45, rallied to an intraday high of 24,130.70, slipped marginally to a low of 23,936.20, and settled at 24,092.70, registering a healthy gain. The price action reflects resilience, with the index holding above opening levels and limiting downside, indicating steady accumulation.
A bullish candle with a relatively small lower shadow suggests buyers remained in control through the session. The move also extends the recent pullback recovery, as participants gradually rebuild long positions amid improving sentiment and lower volatility.Technically, the RSI is hovering near 52, indicating a neutral stance with a mild upward bias,
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