Expert Stock Recommendations for April 2026: Key Picks from Mirae Asset ShareKhan
In a recent market analysis, Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan, has identified three top stocks for investors to consider buying on April 7, 2026. The recommendations include Multi Commodity Exchange, Godrej Properties, and Bharat Dynamics Ltd, each backed by detailed technical charts and momentum indicators. Below is an expanded breakdown of these expert insights to help traders make informed decisions.
Multi Commodity Exchange: A Strong Breakout Candidate
Buy Range: Rs 2540 to Rs 2545
Stop Loss: Rs 2440
Target Price: Rs 2690
On the daily chart, Multi Commodity Exchange is exhibiting a significant breakout from a broad trading range and a descending trendline, with solid support from the 20 and 40 Daily Exponential Moving Averages (DEMA). The stock is forming a higher top and higher bottom pattern above the 100 DEMA, indicating sustained upward momentum. Momentum indicators are positive and positioned above the zero line, reflecting underlying strength in the price action. Key resistance levels are noted at Rs 2624, while support holds firm at Rs 2480, making this a compelling buy for those seeking growth in the commodities sector.
Godrej Properties: Reversal Signals and Channel Breakout
Buy Range: Rs 1584 to Rs 1585
Stop Loss: Rs 1500
Target Price: Rs 1720
The weekly chart for Godrej Properties reveals a breakout from a descending channel and the formation of a double bottom structure at the 78.30% retracement level of the overall decline from Rs 1502. On the daily timeframe, reversal candles are evident, accompanied by positive RSI divergence, suggesting a potential trend reversal. Momentum indicators are providing a positive crossover, further reinforcing bullish strength. Key resistance is identified at Rs 1665, with support levels at Rs 1500, positioning this stock as an attractive option for real estate investors.
Bharat Dynamics Ltd: Consolidation Breakout with Bullish Momentum
Buy Range: Rs 1224 to Rs 1225
Stop Loss: Rs 1180
Target Price: Rs 1330
On the weekly time frame, Bharat Dynamics Ltd is receiving support from an ascending trendline, indicating a stable upward trajectory. The daily chart shows a breakout from a consolidation zone, with additional backing from the 20 and 40 DEMA. Momentum indicators are displaying a positive crossover, pointing to bullish momentum that could drive further gains. Key resistance stands at Rs 1280, while support is firm at Rs 1190, making this defense stock a promising pick for portfolio diversification.
Disclaimer: The recommendations and views expressed in this article are solely those of the expert and do not represent the opinions of The Times of India or its affiliates. Investors are advised to conduct their own research or consult financial advisors before making any investment decisions.
