On April 30, 2026, Aakash K Hindocha, Deputy Vice President - WM Research at Nuvama Professional Clients Group, has identified Lodha Developers, Premier Energies, and HDFC Asset Management Company as top stocks to purchase. He also provides target levels and an outlook for the Nifty and Bank Nifty indices.
Index View: Nifty
The Nifty index exhibited strength during the first half of the new series day, but a significant portion of its intraday gains were eroded by the close due to a spike in oil prices and profit-taking ahead of multiple events such as exit polls and the FOMC outcome. A range between 23,750 and 24,300 has now been established, and a close on either side could trigger a sharper trend.
Bank Nifty
The Bank Nifty closed below its support level of 55,700, accompanied by a bearish head and shoulders breakdown on hourly charts. This has opened the door for further downside toward 54,900 or 54,500, while a move above 56,000 would negate this downward trend.
Lodha Developers (BUY)
- LCP: Rs 912
- Stop Loss: Rs 872
- Target: Rs 1,046
The stock has hit an eight-week high, while the Real Estate index has experienced short covering throughout April and has been one of the best-performing sectors this month. Buying interest in Lodha has emerged from an attractive support band of 650–750, reinforcing that this zone serves as a retest for further upside. Given the bullish flag formation combined with ongoing momentum, the current long side is expected to unfold further, targeting levels near 1,050.
Premier Energies (BUY)
- LCP: Rs 1,039
- Stop Loss: Rs 955
- Target: Rs 1,160
The stock has broken a 15-month trendline after a stellar rally over the past two months. Having reclaimed its 200-day moving average and holding above it, near-term downside is limited despite the recent run-up. An additional 10%–12% upside is expected based on the chart setup.
HDFC Asset Management Company (BUY)
- LCP: Rs 2,787
- Stop Loss: Rs 2,645
- Target: Rs 3,000
A six-month trendline breakout, supported by a rising trendline that has held steady for the past three years, helped facilitate a reversal earlier this month. Additionally, the reclamation of the 200 DMA adds to the recovery phase, helping to end the ongoing consolidation. The target is open for new all-time highs.
Disclaimer: The recommendations and views on the stock market, stocks shared above, or any tips given by experts are their own. These opinions do not represent the views of The Times of India.
