Best stocks to buy today

• SANOFI: Buy above ₹5,980 and dips to ₹5,850, stop ₹5,800, target ₹6,500-6,750

• ASTERDM: Buy above ₹477, stop ₹465, target ₹520-540

• BALRAMCHIN: Buy CMP and on dips to ₹520, stop ₹515, target ₹580-600

Stock market on 7 April

On 7 April, Dalal Street saw a dramatic downturn as widespread panic-selling caused a steep decline in market valuations. A staggering ₹16 lakh crore in market value was wiped out—the most significant intraday collapse since June 2024—triggered by Donald Trump’s tariff-related actions that also shook Wall Street.

Global fears of escalating trade tensions and the possibility of a full-scale recession unnerved investors. Inflation concerns, declining consumption, and looming economic instability amplified the selloff. The prospect of retaliatory tariffs from countries such as China and Canada, as well as the European Union, further fueled uncertainty, leaving markets on edge.

Also read: Bharat Forge on the edge as India-US trade pact holds key to tariff relief

Among the Nifty stocks, heavy losses were recorded by Trent, Tata Steel, JSW Steel, Hindalco Industries, Shriram Finance, and L&T, while Hindustan Unilever was the sole gainer.

All sectoral indices ended the session in negative territory. The metal index led the losses with a steep 6.7% drop, followed by a 5.6% decline in the realty index. Other sectors such as media, PSU bank, auto, energy and IT also saw significant losses, falling between 2.5% and 4%. The widespread selloff highlighted the market’s vulnerability to global economic uncertainties and the potential consequences of trade conflicts.

Outlook for trading

With the RBI policy coming up along with the Q4 results, the bearish momentum could create some rampant volatility. Global markets are now playing an important role in how things will play out. However, the road ahead seems fraught with tension, with no clear signals that could trigger a revival. Currently, the limited rise in Nifty Bank has left some questions unanswered. Like we mentioned on Friday, evidence of a revival is seen in the Nifty, while a muted scenario is being witnessed in Nifty Bank as it has once again negated the hard work done last week. Vibes remain muted, but with a hesitant drift towards the positive side.

Also read | FMCG’s Q4 woes: Why India’s consumer goods giants are expecting a dull quarter

Options data shows that higher levels are under pressure. Sustained selling at higher levels continues to show that the Max Pain in Nifty Bank at 51,000 and Nifty at 22,750. This suggests the trends have strong tailwinds. The reaction from lower levels yesterday and the close above 23,000, forming a hammer pattern, highlights that the levels are slowly and steadily inducing more bullishness in the market. The markets are trading with a slight bullish bias as we head into Tuesday.

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Three stocks to buy today, recommended by NeoTrader’s Raja Venkatraman

SANOFI: Buy above ₹5,980 and dips to ₹5,850, stop ₹5,800 target ₹6,500-6,750

Buy: SANOFI (current price: ₹5,972.35)

• Why it’s recommended: Positive traction has been seen in select pharma stocks in the past few weeks. The rise in the positive Directional Index clearly indicates the trends could persist for the next few days.
• Key metrics: P/E: 44, 52-week high: ₹10,525, volume: 15.66k
• Technical analysis: Support at ₹5,540, resistance at ₹6,500
• Risk factors: Dependence on global supply chains for raw materials and manufacturing can pose risks during disruptions
• Buy at: ₹5,980 and dips to ₹5,850
• Target price: ₹6,500-6,750 in three months
• Stop loss: ₹5,800

Also read: Emerging markets brace for impact of Trump’s tariff wrath this earnings season

ASTERDM: Buy above ₹477, stop ₹465; target ₹520-540

Buy: AsterDM (current price: ₹475.80)

• Why it’s recommended: After a disappointing 2025, prices were seen reviving from lower levels with some genuine buying to generate upward traction. Now with the stock at lower levels, we are once again seeing steady buying interest emerge.
• Key metrics: P/E: 3.5, 52-week high: ₹558, volume: 1.32M
• Technical analysis: Support at ₹400, resistance at ₹520
• Risk factors: Operating in multiple countries exposes the company to varying healthcare regulations and compliance risks.
• Buy at: ₹477
• Target price: ₹520-540 in 3 months
• Stop loss: ₹465

BALRAMCHIN: Buy CMP and on dips to ₹520, stop ₹515, target ₹580-600

Buy: BalramChin (current price: ₹536.10)

• Why it’s recommended:A strong set of supports are now enabling a recovery. As buying interest emerged at lower levels and with the market showing some upward spirit, we can consider a long opportunity.
• Key metrics: P/E: 27, 52-week high: ₹692, volume: 316.16k
• Technical analysis: Support at ₹431, resistance at ₹610
• Risk factors: Fluctuations in domestic and international sugar prices can significantly impact revenue.
• Buy at: CMP and dips to ₹520
• Target price: ₹580-600 in 3 months
• Stop loss: ₹515

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.