April will be a consolidation period for midcaps and smallcaps: Vishal Malkan

Vishal Malkan recommends investing in PSU banks like Canara Bank, Bank of Baroda, and PNB. He also mentions AB Capital as a good stock. Bank Nifty has resistance at 48,000. Auto companies like Ashok Leyland, TVS, Bajaj, and Hero should be watched for breakouts and would would wait for Tata Chemicals price to come down to Rs 1040-1045 before buying it.

The Nifty PSE (Public Sector Enterprises) index plummeted almost 4% on Monday, its highest single-day decline since January 23, when the index fell 4.3%. The index dropped 2.7% on Friday.

The Nifty PSU Bank index is approaching a make-or-break zone near its all-time high resistance of 5375. If there is a breakout above this level, it could lead to a fresh rally in the index and PSU stocks. However, failing to do so in the coming weeks may result in profit booking or consolidation. The Nifty Bank index has historically performed well in October and could outperform the benchmark indices. Traders should watch out for levels around 44000-43600 as a strong base for the short term.

Buy or sell indicator: Nifty is still in 16,800 to 17,200 range and bullish or bearish trend can assumed on breakage of either side of the range, believes Anuj Gupta of IIFL Securities

Vishal Malkan predicts HDFC Bank may rally to Rs 1,485 to 1,500. Bank Nifty is expected to rise if it closes above 47,100. NTPC shows good momentum while Swan Energy is advised to buy on a dip near support levels.

Stock market today: Speculation arises if market has topped out, but experts believe rally will continue, led by FMCG and Capital Goods sectors

A 200-day moving average is the average closing price of a stock over the last 200 days

Nifty has a short-term bottom at 21,710 and has its eyes set on a new all-time high with a potential to stretch higher till 23,000–23,100 from a one-month perspective.

​So I think it will continue to be in a little range bound. We have to understand that the pre-provisioning operating profit was above sentiment, but maybe this was a one off. However, like I said, maybe the sheer weight of being such a large heavyweight will keep it under check. And I think today it could be a little bit weak . But if you have a longer term view, then definitely State Bank is one PSU bank where long term money should find its way.

Jay Thakkar says: “21,400 and thereafter 21,300 are the two crucial support levels for Nifty and if those levels are held, the probability of Nifty making a life high this week is quite high. 21,500 is an immediate resistance. It really needs to take off those levels, otherwise what will happen is Nifty may just consolidate this week within a price band of 21,300 to 21,600.”