The Indian stock market extended gains for a second consecutive session on Thursday, April 2, with the Sensex settling 185 points higher at 73,319.55 and the Nifty 50 closing at 22,713.10, up 34 points or 0.15%. According to reports from Mint, the Sensex had surged 1,774 points from its intraday low of 71,545.81, while the Nifty 50 rebounded 531 points from its day's low of 22,182.55. The late-session buying helped offset weak global cues and a sharp rise in crude oil prices.
As reported by Mint, Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, noted that the Nifty 50 ended the holiday-shortened week on a negative note, extending its losing streak for the sixth consecutive week with a decline of roughly 0.50% on a weekly basis. The index closed around the 22,700–22,800 zone after witnessing a highly volatile trading range of nearly 750–1,000 points during the week. Dongre emphasized that the Nifty is attempting to hold near its previous monthly low around 21,700, making the 22,000 level a critical support for the coming weeks.
According to Mint reports, Bank Nifty also ended the week lower, declining 1.39%, with strong support placed in the 50,000–49,500 zone and resistance in the 52,000–53,000 range. Dongre stated that market sentiment remains cautiously optimistic but fragile, with a decisive breakout above 24,500 on the Nifty and 54,500 on the Bank Nifty being crucial to confirm a continuation of the upward trend. He advised traders to follow a disciplined strategy in selective stocks while closely monitoring global cues and geopolitical developments.
As reported by Mint, Ganesh Dongre of Anand Rathi has recommended three stocks for Monday trading: Ashok Leyland at ₹145-150 with a target price of ₹165 and stop loss of ₹135, Asian Paints at ₹2,160-2,170 with a target price of ₹2,240 and stop loss of ₹2,120, and Kaynes Technology India at ₹3,530-3,550 with a target price of ₹3,620 and stop loss of ₹3,500. The recommendations are based on technical analysis and derivatives data showing key resistance and support levels.
