Page Reader AI | Stocks to buy today: Asian Paints, Berger Paint among top 6 trading ideas for 9 April 2025

Stocks to buy today: Asian Paints, Berger Paint among top 6 trading ideas for 9 April 2025 - The Economic Times

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Market Overview

The Nifty50 index experienced a temporary dip but recovered, showing a bullish trend supported by positive RSI divergence. Resistance levels are at 22,800 and 23,000, while support levels are at 22,400-22,200. The India VIX decreased, suggesting reduced investor anxiety.

Trading Recommendations

Experts from Sharekhan by BNP Paribas and ET Now offered buy recommendations for several stocks with specified targets and stop-losses:

Berger Paints: Buy at target price of Rs 557, Stop Loss at Rs 520
Tata Consumer: Buy at target price of Rs 1,115, Stop Loss at Rs 1,040
Torrent Pharma: Buy at target price of Rs 3,365, Stop Loss at Rs 3,200
Asian Paints: Buy at target price of Rs 2,500, Stop Loss at Rs 2,350
GlaxoSmithKline Pharma: Buy at target price of Rs 2,800, Stop Loss at Rs 2,680
Indus Towers: Buy at target price of Rs 385, Stop Loss at Rs 362

Note: These are expert recommendations and should not be considered financial advice.

The Nifty50 slipped below its 20-day EMA on Monday but found strong support near the 21,800 mark and bounced back, forming a bullish belt hold candlestick pattern in the previous trading session.

“A mild rebound followed on Tuesday, supported by a positive RSI divergence, suggesting a possible move toward the 22,950–23,000 zone, where the 20-day EMA lies,” said Vatsal Bhuva, Technical Analyst at LKP Securities.

“A breakout above 23,200 (20-week EMA) could confirm a bullish trend, while a close below 21,800 may signal further weakness. Meanwhile, India VIX above 20 points to heightened volatility ahead due to global uncertainties and the RBI policy meet,” he added.

Key resistance levels are now placed at 22,800 and 23,000, while on the downside, 22,400 to 22,200 will act as immediate support zones.

The India VIX, a gauge of market fear, dropped sharply, indicating a decline in investor anxiety and reinforcing the bullish undertone.

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“A strong bounce was seen from support levels near 22,000, and if the index continues to hold above this mark, any dip is likely to attract buying interest,” said Mandar Bhojane, Research Analyst at Choice Broking.

“Going forward, traders should watch for sustained moves above resistance zones and use dips near supports as fresh entry opportunities. Overall, the short-term market outlook remains positive with cautious optimism,” he added.

Stocks to Watch for Short-Term Trading Horizon (as recommended by experts): Expert: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas (to ET Bureau)Berger Paints: Buy | Target: Rs 557 | Stop Loss: Rs 520

Tata Consumer: Buy | Target: Rs 1,115 | Stop Loss: Rs 1,040

Torrent Pharma: Buy | Target: Rs 3,365 | Stop Loss: Rs 3,200

Expert: Kunal Bothra, Market Expert (to ET Now)Asian Paints: Buy | Target: Rs 2,500 | Stop Loss: Rs 2,350

GlaxoSmithKline Pharma: Buy | Target: Rs 2,800 | Stop Loss: Rs 2,680

Indus Towers: Buy | Target: Rs 385 | Stop Loss: Rs 362

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)