Buy or sell shares: The Indian stock market remained under pressure for the second consecutive session on Monday, March 30, as the benchmark indices BSE Sensex and Nifty 50 fell over 2%.
The Sensex fell 1,636 points, or 2.22%, to close at 71,947.55, while the Nifty 50 fell 488 points, or 2.14%, to close at 22,331.40. Over the two sessions, the Sensex has lost a total of 3,326 points, or 4.42%, while the Nifty 50 has lost 975 points, or 4.18%.
The stock market today
ingenious 50
On Monday, the Nifty 50 index opened on a negative note with a gap down at 22,549.65. During the first half of the trading session, the index hit an intraday high of 22,714.10. However, selling pressure persisted throughout the day. The index eventually touched an intraday low of 22,283.85 and eventually settled at 22,331.40, recording a loss of 486.85 points (-2.14%). This move reflects weak market sentiment and continued selling pressure.
On the outlook for Nifty 50, Sumeet Bagadia, CEO, Choice Broking, said, “From a technical perspective, the 22,150-22,200 range is identified as a crucial support zone for the index. On the upside, the immediate resistance lies between 22,450 and 22,500. The Relative Strength Index (RSI) is currently at 32.01, indicating that it remains close to the zone. oversold and momentum remains weak. A sustained move above the mid-50 level would be needed to signal any significant improvement in trend strength.
Bagadia further opined that traders should adopt a cautious or bearish approach around key support and resistance levels, given the current weak market structure and continued downward pressure.
“Any pullback upwards towards resistance will likely find selling interest. Fresh directional trades should only be considered if the market sustains a move above the 24,000 mark as this would indicate a significant trend reversal and improve overall market sentiment,” he added.
Ingenious bench
The Bank Nifty index also opened lower on March 30, 2026, with a difference of 51,527.90. The intraday high of 51,624.50 was recorded near the opening level, indicating immediate selling pressure. The index continued to face significant selling throughout the session, hitting a low of 50,105.25 before closing at 50,275.35. This represents a sharp decrease of 1,999.25 points (-3.82%) in today’s session.
On the outlook for Bank Nifty, Bagadia said, “Technically, the index is expected to find support in the range of 49,900 to 50,000, while resistance lies between 50,500 and 50,600. The RSI stands at 28.44, indicating that the index remains in the oversold zone, reflecting strong selling pressure and weak momentum. A reversal to the sustained rise from these levels to confirm any improvement in the trend.”
Sumeet Bagadia Shares to Buy
Sumeet Bagadia recommends buying five stocks on Wednesday, April 1: GlaxoSmithKline Pharmaceuticals, Ipca Laboratories, RHI Magnesita India, Sammaan Capital and KSB.
1] GlaxoSmithKline Pharmaceuticals: Buy at $2283, target $2420, stop loss $2217
GlaxoSmithKline Pharmaceuticals Ltd is currently listed on $2283 and remains firmly above its support zone. This support coincides with the 50-month EMA, while on the weekly period, the stock also remains above its 200-week EMA, indicating underlying strength in the broader trend.
The RSI is at 34.41 and is showing a bullish divergence, suggesting a weakening of bearish momentum and the possibility of a reversal or bullish move.
For short-term traders, current levels may present a buying opportunity, with a stop loss placed at $2217 and a target of $2420, while ensuring that disciplined risk management is followed.
2] Ica Laboratories: Buy at $1601.20, Objective $1710, stop loss $1547
Ipca Laboratories share price is currently trading $1601 and is exhibiting a sustainable reversal, forming a higher and lower structure, suggesting the emergence of a short-term uptrend. The stock has found strong support near last month’s high and formed a bullish hammer on the weekly time frame, indicating buying interest at lower levels and a possible continuation of the trend.
If the stock experiences a minor pullback towards $1577, would indicate a healthy pullback within the ongoing uptrend, offering a possible entry opportunity. Short-term traders may consider buying at current levels, with a stop loss at $1547 and a target of $1710, while maintaining prudent risk management.
3] RHI Magnesite India: Buy at $337.85, target $375, stop loss $323
RHI Magnesita India share price is currently trading $337.85 and has received support from the low formed on November 22, 2021, suggesting a strong historical support base and possible price stability at current levels. The stock is also showing a bullish divergence on the daily chart, indicating weakening selling pressure and the possibility of a trend reversal. Additionally, the RSI is at 30.60 on the daily chart, reflecting oversold conditions and a potential for a bounce.
Downside support is placed near $330, which marks an area of strong demand and limits the downside risk in the short term. Healthy volumes further validate the strength of the movement. Short-term traders may consider buying at current levels, with a stop loss at $323 and a goal of $375, while maintaining prudent risk management.
4] Sammaan Capital: Buy at $149.52, target $160, stop loss $144.82
Sammaan Capital share price is showing early signs of a bullish reversal after recovering nearly 15% from its recent low, indicating strong accumulation and growing buying interest. The stock has formed a fourth consecutive green candle, reflecting sustained bullish momentum and continued demand.
It has also moved above its 20-day and 50-day DEMAs, showing a positive crossover and trend alignment, reflecting improving strength and a constructive price structure. He $The 148 level is expected to act as strong support on the downside. Short-term traders may consider buying near $149.52, with a stop loss at $144.82 and a target of $160, while maintaining disciplined risk management.
5] KSB: Buy at $796.85, target $850, stop loss $774
KSB share price is currently trading $796.85 and has broken above the descending trend line, reflecting a possible trend reversal and the emergence of bullish momentum. On the daily chart, the stock is seeing a healthy consolidation near the 20 DEMA, showing strength and continuation of the ongoing uptrend.
The RSI at 59.19 indicates improving momentum and a bullish bias, with room for further rises. Short-term traders may consider initiating long positions at current levels, with a stop loss at $774 and a bullish target of $850, maintaining disciplined risk management.
Disclaimer: This story is for educational purposes only. The opinions and recommendations above are those of individual analysts or brokerage firms, not those of Mint. We advise investors to consult certified experts before making any investment decisions.