The Indian stock market faced significant downturns on Friday, April 4, 2025, as investors reacted to global economic pressures, particularly the impact of tariffs imposed by former President Donald Trump. The BSE Sensex dropped by 930.67 points, or 1.22 percent, closing at 75,364.69, while the NSE Nifty50 index plunged 345.65 points, or 1.49 percent, to end at 22,904.45. This decline has raised concerns among traders about the market's stability ahead of the upcoming quarterly earnings reports from major Indian companies.
As the market struggles, analysts are closely monitoring several stocks that are likely to remain in the spotlight. Chandan Taparia, an analyst at Motilal Oswal Financial Services Limited, noted that the Nifty future closed in negative territory with losses of 1.54 percent, settling at 22,967 levels. He mentioned that the India VIX, a measure of market volatility, rose over 1 percent to close at 13.76 in the previous session.
According to Taparia, the options data indicates a broader trading range between 22,400 and 23,500, with an immediate range between 22,700 and 23,100 levels. This suggests that traders should prepare for fluctuations in the coming days.
In terms of specific stock recommendations, Aakash Hindocha from Nuvama Wealth has advised buying shares of Asian Paints, with a target price set at Rs 2,650 and a stop loss at Rs 2,265. He also recommended purchasing Balrampur Chini Mills, targeting Rs 600 with a stop loss of Rs 532, and PCBL, with a target of Rs 470 and a stop loss of Rs 408.
Conversely, Kunal Bothra, a market expert, has suggested selling shares of Infosys, with a target price of Rs 1,390 and a stop loss of Rs 1,465, as well as MCX, targeting Rs 4,850 with a stop loss of Rs 5,100. He also recommended selling Samvardhana Motherson, with a target of Rs 113 and a stop loss of Rs 121.
Mileen Vasudeo, a Senior Technical Analyst at Arihant Capital Markets, echoed the sentiment of caution, particularly with Tata Power Co. He noted that the stock is facing strong resistance at the Rs 380-385 level on daily charts and is currently trading below its 10-day simple moving average of Rs 378. Vasudeo has recommended selling Tata Power with a target price between Rs 320 and Rs 300 and a stop loss at Rs 390.
On the other hand, Vasudeo sees potential in YES Bank, suggesting a buy recommendation with a target price of Rs 21-23 and a stop loss at Rs 15. He highlighted a double bottom formation at the Rs 16 level on the daily charts, indicating a potential upward momentum.
As traders prepare for Monday's session, several stocks are expected to be in focus, including Jubilant FoodWorks and Trent. Analysts are keenly observing these stocks for any potential movements that could arise from the current market conditions.
The overall sentiment remains cautious as the market grapples with external pressures and awaits the Q4 results from various companies. With the impending earnings reports, investors are advised to stay alert and consider the recommendations provided by market analysts.
