Buy or sell stocks: The domestic equity markets are closed today (Friday, April 3), on account of Good Friday.
On Thursday, April 2, the benchmark indices, Nifty 50 and Sensex, recovered from earlier declines due to an appreciation in the rupee following measures implemented by the central bank, although fading hopes for a swift resolution to the Iran situation prolonged the losing streak to six weeks.
The Nifty 50 ended 0.15% higher at 22,713.1, while the Sensex rose by 0.25% to 73,319.55 after having dropped more than 2% earlier in the session.
Nifty 50 Outlook
On 2nd April 2026, the Nifty 50 opened on a weak note with a sharp gap-down at 22,383.40 and declined further to an intraday low of 22,182.55 during the first half of the session. In the latter half, strong buying interest emerged, driving the index higher to an intraday high of 22,782.30. Despite the negative start, the index managed to recover and closed in positive territory at 22,713.10, registering a marginal gain of 33.70 points or 0.15% over the previous close. On the daily timeframe, the complete filling of the initial gap-down indicates sustained demand at lower levels.
On the Nifty 50 outlook, Sumeet Bagadia, Executive Director at Choice Broking, said, “From a technical perspective, immediate support for the index is placed in the 22,450–22,500 range, while resistance is observed between 22,840 and 22,900 levels. The Relative Strength Index (RSI) is currently at 37.56, remaining below the midpoint of 50, which suggests that the momentum lacks strong conviction.”
Bagadia added that the volatility index, India VIX, rose by 2.04% to close at 25.52, indicating a mild increase in market volatility.
“In the derivatives segment, notable call writing was observed at the 22,800 strike, followed by the 23,000 strike. On the put side, significant writing activity was seen at the 22,500 and 22,600 strike levels, highlighting key support zones,” he said.
Bank Nifty
The Bank Nifty index remained volatile throughout the trading session. It opened with a sharp gap-down at 50,625.65 and extended its decline in early trade, touching an intraday low of 49,954.85 due to continued selling pressure. Subsequently, strong buying interest at lower levels led to a sharp recovery, pushing the index to an intraday high of 51,731.95. The index eventually closed at 51,548.75, registering a gain of 100.10 points or 0.19% for the day. On the daily timeframe, the formation of a bullish candlestick reflects improving sentiment and buying interest in the index.
On the Bank Nifty outlook, Bagadia said, from a technical standpoint, immediate support is placed in the 51,000–51,150 range, while resistance is seen in the 51,860–52,000 zone. The Relative Strength Index (RSI) stands at 35.13 and continues to remain below the midpoint level of 50, indicating that the momentum is yet to strengthen meaningfully. Sustaining above this level would be important to signal improvement in strength.
“Considering the prevailing geopolitical uncertainties, a cautious stance is advised. Market participants should keep a close watch on important support and resistance levels and prefer to act only after clearer signs of stability emerge,” added Bagadia.
Sumeet Bagadia’s stocks to buy
Sumeet Bagadia recommends five shares to buy after stock market rebound; Ltd, Ltd, Ltd, Ltd, and Ltd.
Buy CCL Products (India) in cash at ₹1,093; Stop loss at ₹1,030; Target at ₹1,163
CCL Products is showing strong bullish momentum, currently trading around 1,093 and hovering near its all-time high zone, indicating sustained buying interest. The stock has witnessed a steady uptrend after consolidating near the 950–1,000 range, suggesting a healthy base formation before the recent breakout.
On the technical front, the stock is trading above all its key moving averages, reflecting strong trend alignment and continued bullish control. The recent move above the 1,065 resistance zone confirms a breakout, supported by improving price structure.
Momentum indicators remain positive, indicating strength in the ongoing trend. On the downside, 1,030 acts as a crucial support and stop-loss level, and any breach below this may weaken the structure. If the stock sustains above the given support, it could move towards 1,163 levels, aligning with the projected target zone of Fibonacci extension levels of 100%. Volume participation will be key to sustaining this breakout.
Buy ACME Solar Holdings in cash at ₹274; Stoploss at ₹264; Target price at ₹294
ACME Solar is witnessing a strong recovery after a prolonged corrective phase, currently trading around 274. The stock has rebounded sharply from the 235 zone where key ema are aligned and took support , indicating renewed buying interest and a potential trend reversal setup.
Technically, the stock has reclaimed its key moving averages signaling improving strength in the short to medium term. The recent breakout above the 260 resistance band confirms bullish momentum, supported by consistent higher highs and higher lows. The structure suggests early stages of an uptrend, with momentum indicators also trending positively. On the downside, 264 acts as immediate support and a crucial stop-loss level. As long as the stock sustains above this level, the bullish momentum remains intact. If the stock sustains above the given support, it could drive the stock towards 294 levels, aligning with the next target zone.
Buy Vardhman Textiles in cash at ₹536; Stop loss at ₹513; Target price at ₹575
Vardhman Textiles is exhibiting strong bullish strength, currently trading around 536 and positioned near its 52-week high levels, indicating continued accumulation. The stock has shown a sharp reversal from the 400 zone, followed by a strong upward rally.
From a technical perspective, the stock is trading well above all its key moving averages, with the 50 EMA acting as immediate support, reflecting a strong uptrend. The recent consolidation near highs indicates strength rather than exhaustion. Momentum indicators remain positive, supporting continuation of the trend. On the downside, 513 serves as a key support and stop-loss level, and a break below this may trigger short-term weakness. If the stock sustains above 513, it could extend its rally towards 575 levels, which aligns with the next resistance zone and projected target.
Buy Bliss GVS Pharma in cash at ₹234; Stop loss at ₹220; Target at ₹250
Bliss GVS is currently trading around the 234 mark, consolidating just below its recent swing highs, which reflects strength after a sharp rally. The stock has shown a decisive breakout above 220 from a prolonged sideways phase, followed by steady accumulation near higher levels. Importantly, price is holding comfortably above all major moving averages, indicating strong trend support and sustained bullish momentum.
The recent structure reflects healthy consolidation rather than weakness, suggesting the possibility of another upward leg. Immediate support is placed near 220, which also acts as a key risk management level. As long as this zone remains intact, the overall trend stays positive. A breakout above recent highs can open room for an upside move towards 250, supported by continued buying interest.
Buy Lumax Auto Technologies in cash at ₹1,614; Stop loss at ₹1,535; Target price at ₹1,735
Lumax Auto Technologies is maintaining a positive structure, currently trading near ₹1,614 and gradually inching higher after a brief consolidation. The stock is trading above its key moving averages, indicating underlying strength and continuation of the broader uptrend. The recent bounce from lower levels highlights strong demand at dips, reinforcing bullish sentiment.
Price action suggests a steady upward trajectory with minor pullbacks being bought into. The 1,535 level serves as a strong support and a logical stop-loss point to manage risk. If the stock sustains above the support zone, it could attract buying momentum. A follow-through buying can push the price towards an upside move towards 1,735, supported by improving price structure and consistent volume participation.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.