Top Stock Picks for April 21: Insights from MarketSmith India
Raja Venkatraman, MarketSmith recommend five stocks for 21 April
Mint
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On April 20, Indian stock indices closed slightly up amid geopolitical tensions affecting market sentiment. Raja Venkatraman from MarketSmith India recommends five stocks for April 21, including Balrampur Chini Mills and City Union Bank, highlighting their strong growth potential and favorable market conditions.
- 01Indian stock indices showed minor gains on April 20, with the Nifty 50 at 24,364.85 and the Sensex at 78,520.3.
- 02Geopolitical tensions between the U.S. and Iran are impacting market sentiment and oil prices.
- 03Raja Venkatraman recommends five stocks for April 21, focusing on strong growth and market conditions.
- 04Key companies in focus include HCL Technologies and Nestle India, which are set to announce earnings soon.
- 05Investors are advised to monitor stock-specific actions as the earnings season progresses.
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On April 20, the Indian stock market saw slight gains, with the Nifty 50 rising by 0.05% to close at 24,364.85 and the Sensex increasing by 0.03% to 78,520.3. This comes amid geopolitical tensions, particularly concerning the U.S. and Iran, which have raised concerns over oil prices, now at $95 per barrel. Raja Venkatraman, Co-founder of NeoTrader and MarketSmith India, has recommended five stocks for April 21: Balrampur Chini Mills Ltd, CESC Ltd, Bank of Maharashtra, Blackbuck Ltd, and City Union Bank Ltd. Each recommendation is backed by specific technical analyses and market conditions. For instance, Balrampur Chini Mills is suggested for a buy above ₹520, with a target price of ₹575. Similarly, City Union Bank is recommended with a target price of ₹310. As earnings season progresses, investors are encouraged to keep an eye on the upcoming results from major companies like HCL Technologies and Nestle India, which could influence market movements significantly.
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The recommendations could influence investor decisions, particularly in the banking and sugar sectors, potentially affecting stock prices and market dynamics.
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