Stocks to buy on 24 April: Selling pressure intensified in the domestic stock markets on Thursday, with the benchmark indices finishing significantly lower as crude oil prices climbed above USD 100 per barrel, negatively affecting investor sentiment.
The Nifty 50 index dropped by 205 points to close at 24,173.05, marking a decrease of 0.84%, while the BSE Sensex decreased by 852.49 points to finish at 77,664.00, reflecting a decline of 1.09%.
Market analysts linked the downturn to escalating geopolitical tensions and uncertainty regarding the situation in West Asia.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart is showing a muted start for the Indian stock market today. By 7:41 AM, the Gift Nifty was trading around the 24,240 level, a premium of 77 points from the Nifty futures’ previous close of 24,163.
Decoding the impact of Gift Nifty live chart and other triggers on Dalal Street, Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth, said that Indian markets are likely to begin the session on a muted note, with early indications pointing toward a flat opening. Gift Nifty is hovering around the 24,150 mark, broadly in line with the previous close of the Nifty, suggesting a lack of strong directional cues at the start of the day.
The broader sentiment remains fragile, shaped largely by persistent geopolitical uncertainty. Global markets reflected this caution in the previous session. While the S&P 500 touched an intraday record high, it failed to hold gains and ended lower, with selling pressure particularly visible in technology stocks. The pullback signals that investors are becoming increasingly reluctant to chase valuations at elevated levels amid unresolved geopolitical risks.
Developments in West Asia continue to influence market psychology. Although the ceasefire between Israel and Lebanon has been extended by three weeks following diplomatic engagement led by Donald Trump, the extension is being viewed as a temporary relief rather than a structural resolution. The underlying tensions, particularly around Iran, continue to keep risk appetite in check. This is also evident in mixed trends across Asian markets, where cautious optimism is being offset by the lack of long-term clarity.
Stocks to buy today
Regarding stocks to buy today — Raja Venkatraman is Co-founder of NeoTrader, and stock research platform MarketSmith India, recommended buying these five shares -Ltd, Ltd, Ltd, Ltd, and Ltd.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman
Praj Industries Ltd (Cmp ₹410.05)
Praj Industries Ltd: Buy above ₹415, stop ₹390 target ₹461 (Multiday)
Why it’s recommended: Praj Industries is a leading Indian process and project engineering company, specializing in biotechnology and engineering, it is a global leader in bioenergy (ethanol production), industrial wastewater treatment, critical process equipment, and high-purity water systems. The stock has been descending sine last 9 months. A strong thrust above the cloud region after long period of consolidation indicates some fresh buying that has emerged. With the prices holding the TS & KS indicates a strong bullish possibility. Go long.
Key metrics:
P/E Ratio : 54.94
52-week high: ₹538.40,
Volume: 21.02M
Technical analysis: Support at ₹375, resistance at ₹480.
Risk factors: Key risks include potential time/cost overruns in major projects, low Return on Capital Employed (ROCE) (~3.8%-4.08%), declining net profits, and forex fluctuations from foreign currency debt (USD/JPY).
Buy : above ₹415
Stop loss: Rs 390.
Target price: ₹461(2 Months)
Mankind Pharma Ltd (Cmp ₹2,292.90)
Mankind Pharma:Buy above ₹2,305, stop ₹2,240 target ₹2,455 (Multiday)
Why it’s recommended: Mankind Pharma Limited is a leading Indian multinational pharmaceutical company. The company develops, manufactures, and markets a diverse range of branded formulations in acute and chronic therapeutic areas. There has been a strong surge in Open Interest indicating that the trends in this counter is indicating a steady upward bias. Strong recovery with positive newsflow augurs well for the prices. The last few days the upward momentum is retained despite market condition, look to initiate a Buy.
Key metrics:
P/E Ratio : 55.35
52-week high: ₹2,726.75,
Volume: 1.06M.
Technical analysis: Support at ₹2,140, resistance at ₹2,465.
Risk factors: High concentration in the Indian market, regulatory pressures, and intense competition.
Buy : above ₹2,305.
Stop loss: Rs 2,240.
Target price: ₹2,455(2 Months)
Computer Age Management Services Ltd CAMS (Cmp ₹770.70)
CAMS: Buy above ₹771, stop ₹730 target ₹850 (Multiday)
Why it’s recommended: Computer Age Management Services Ltd (CAMS) is India’s largest technology-driven financial infrastructure and service provider, holding a ~69.4% market share as a Qualified Registrar and Transfer Agent (QRTA) for mutual funds. Capital market sector has seen some strong volatile scenario and the last few months this counter has been on a descent. The nice rounding formation at lower levels and the revival subsequently after a bearish grip augurs well for the prices. The strong thrust on Thursday has ignited bullish possibilities in the counter. The rising momentum charge shown by the ADX and DI could now result in some upward drive.
Key metrics:
P/E Ratio: 43.01
52-week high: ₹875
Volume: 1.40M.
Technical analysis: Support at ₹700, resistance at ₹900.
Risk factors: Regulatory changes, high client concentration, and market volatility..
Buy : above ₹771.
Stop loss: ₹730.
Target price: ₹850.(2 Months)
Two stock recommendations by MarketSmith India
Buy: Sai Life Sciences Ltd (current price: ₹1,040)
Why it’s recommended: Strong presence in the CRDMO segment, global pharma client base, increasing demand for outsourcing by pharma companies, revenue visibility through long-term contracts, expansion in capacity and capabilities, focus on innovation and complex chemistry, diversified therapeutic exposure, and improving financial performance trend.
Key metrics: P/E: 62.79, 52-week high: ₹1,084.00, volume: ₹89.18 crore
Technical analysis: Trendline Breakout
Risk factors: High dependence on a few key clients, pricing pressure from global peers, regulatory compliance risks, currency fluctuation impact, high competition in CRDMO space, execution risks in capacity expansion, cyclical pharma outsourcing demand, and margin pressure due to cost inflation
Buy: ₹1,030–1,050
Target price: ₹1,250 in two to three months
Stop loss: ₹940
Buy: Garware Hi-Tech Films Ltd (current price: ₹4,195)
Why it’s recommended: Strong niche in specialty polyester films, diversified product portfolio (CPD & IPD), focus on value-added products improving margins, global presence with strong export share, leadership in sun control & paint protection films, backward integration supports cost efficiency, consistent growth in profits over the years, and expansion in international markets
Key metrics: P/E:30.58, 52-week high: ₹4,782.90, volume: ₹61.81 crore
Technical analysis: Trendline Breakout
Risk factors: corporate governance concerns, high dependence on export markets, competition from global players, margin volatility in commodity segments, raw material (petrochemical) price risk, related-party transactions risk, regulatory and compliance risks, capital allocation inefficiency concerns
Buy at: ₹4,180–4,230
Target price: ₹4,780 in two to three months
Stop loss: ₹3,940
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.