According to reports from MarketSmith India, Raja Venkatraman, Co-founder of NeoTrader, recommended two stocks for trading on April 20, 2026. The recommendations come as Sensex and Nifty 50 extended their rally on Friday, April 17, rising nearly 1% amid improving global sentiment. The Sensex gained 504.86 points, or 0.65%, to close at 78,493.54 after touching an intraday high of 78,553.45. Market breadth remained positive with 3,043 stocks advancing, 1,284 declining, and 166 remaining unchanged on the BSE. As per Live Mint, market breadth was strong with an advance-decline ratio of 2.6:1 as 2,364 stocks rose against 894 declines on the NSE, indicating broad-based buying across sectors.
As reported by MarketSmith India, the recommended stocks include Privi Speciality Chemicals Ltd (₹3,133) and Jindal Stainless Ltd (₹788). Privi Speciality Chemicals is recommended for its strong position in aroma chemicals niche, long-term contracts with global clients, consistent revenue and profit growth, capacity expansion plans in place, export-driven business with global reach, improving operating margins, and strategic backward integration. The analysis suggests P/E ratio of 40.13, 52-week high of ₹3,440.50, and volume of ₹113.90 crore, with a target price of ₹3,580 in two to three months. Jindal Stainless is positioned as a market leader in the stainless steel segment, strong capacity expansion pipeline, wide product portfolio across industries, global presence with export markets, backward integration improving cost efficiency, beneficiary of rising domestic steel demand, and focus on value-added products. The stock shows P/E ratio of 22.02, 52-week high of ₹884.00, and volume of ₹39.03 crore, with a target price of ₹890 in two to three months.
According to the latest reports, Nifty 50 rose 156.80 points, or 0.65%, to settle at 24,353.55, reflecting the broad-based rally across sectors. As per Live Mint, among sectors, the Nifty FMCG index led gains, climbing 2.65% on the back of a nearly 5% jump in Hindustan Unilever, driven by upbeat volume growth expectations. Nifty Oil & Gas and Metals also advanced more than 1% each, tracking stabilising global crude and commodity prices. However, IT was the only laggard, ending marginally lower amid cautious guidance from major players such as Wipro. Investors' wealth surged by ₹4.84 lakh crore, taking the total market capitalisation of BSE-listed companies to ₹465.64 lakh crore (approximately $5.02 trillion). The optimism was driven by easing geopolitical tensions, softer crude oil prices, and renewed foreign fund inflows.
According to Live Mint, momentum indicators suggest improving strength with the relative strength index (RSI) climbing to around 57, indicating room for further upside without entering overbought territory. The moving average convergence divergence (MACD) shows a positive crossover, signalling strengthening near-term momentum. According to MarketSmith India's analysis, the market has shifted into a 'confirmed uptrend' from a 'rally attempt' with immediate resistance seen in the 24,400–24,500 range, with a stronger hurdle near 24,800. On the downside, support is placed at 24,000–23,950, while Nifty Bank opened higher at 56,072.40 and extended gains, hitting an intraday high of 56,628.70 before closing near the day's peak at 56,565.70, up 0.85%. The Gift Nifty trading around 24,471 level indicates a flat start for Monday's session, with markets expected to open on a mildly positive note despite the fragile environment.
