The Indian equity market snapped its recent winning streak on Monday, seeing both Nifty 50 and Sensex fall nearly 1%. Despite the initial slump amid heightened geopolitical concerns, Motilal Oswal Financial Services has issued specific stock recommendations, naming three buys for the upcoming trading session.
Market Sentiment Declines Amid Global Cues
Trading sentiment weakened sharply on Monday, April 13, primarily due to rising crude oil prices. The global mood was subdued following the failure of US-Iran peace talks over the weekend, which revived regional concerns.Benchmark indices mirrored this apprehension, with the Nifty 50 closing lower at 23,842. Similarly, the S&P BSE Sensex dropped 1% to close at 76,788. Broader markets also saw significant losses, with the Nifty Midcap 100 and Nifty Smallcap 100 indices posting declines exceeding 0.46%.
Despite the substantial declines, the indices displayed resilience, recovering roughly half of their early losses. This suggests underlying buying interest emerging at lower valuation levels.
Technical Deep Dive: Analyzing Major Indices
Expert analysis shows that key indices are navigating critical resistance levels.Nifty 50 Outlook
Motilal Oswal Head Derivatives & Technicals, Chandan Taparia, noted that the Nifty formed a bullish candle on the daily chart, effectively absorbing supply pressure. For an upward move, the index must cross and maintain support above the 23900 zone, aiming next for 24100 and 24300. Support levels are identified at 23700 and 23550.
The option data suggests a broad trading range between 23300 and 24300 zones, with an immediate focus between 23500 and 24100.
Bank Nifty Outlook
The Bank Nifty index also showed signs of technical strength. It opened gap down amid weak global cues, but saw a gradual recovery toward the 55750 levels during the session.
Taparia observed that the index formed a bullish candle on the daily scale, confirming buying interest at lower levels. Maintaining support above the 55500 zone is crucial for the index to target 56000 and 56500 levels.
Three Stock Picks: Expert Targets for Upcoming Trading Day
Amid the global uncertainty, Chandan Taparia has identified three specific stocks recommended as buys for the subsequent trading day, April 15, 2026.Multi Commodity Exchange (MCX)
MCX is flagged as a buy opportunity. The stock has reportedly broken out from an "Ascending Triangle" pattern, confirming the move with a strong bodied bullish daily candle. The RSI indicator provides a bullish crossover signal, boosting the positive momentum.
Target Price: ₹ 2,930 | Stop Loss: ₹ 2,680
Sona Blw Precision Forgings
Sona Blw Precision Forgings is another buy recommendation. The stock has generated a breakout from a period of consolidation, supported by higher than average trading volumes. Confirmation of positive momentum is further supported by the rising MACD indicator.
Target Price: ₹ 603 | Stop Loss: ₹ 550
Waaree Energies
Finally, Waaree Energies is recommended for purchase. The stock has demonstrated a breakout from a bullish "Pole & Flag" pattern on the daily scale, suggesting a continued upward trend. The rising ADX line further validates the strength of this uptrend.
Target Price: ₹ 3,535 | Stop Loss: ₹ 3,240
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