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The constant turbulence held its grip on the markets as the bearishness stepped up to push the indices lower. The stock-specific action that we are noticing now has stepped up, leading to the trading-oriented behaviour. The market scenario clearly indicates that the investors are still waiting on the sidelines.

Best stocks to buy today (All buy trades are rates of equity, and sell rates are based on F&O)

Indusind Bank Ltd: Sell below 750 | Stop 790 | Target 685 (Multiday)

IPCA Laboratories Ltd: Buy above ₹1,610 | Stop ₹1,540 | Target ₹1,785 (Multiday)

On 30 March 2026, Indian equity markets witnessed heavy selling pressure for the second consecutive session as surging crude oil prices above $114 a barrel and escalating tensions in the Middle East dampened investor sentiment. The NSE benchmark Nifty closed sharply lower by 488.20 points, or 2.14%, at 22,331.40, marking its weakest finish in nearly eleven months. The broader market mirrored this decline, with both mid-cap and small-cap indices slipping close to 3%.

Sectoral performance was uniformly negative, led by steep losses in PSU banks, which fell 4.6%, while the Nifty Bank and the Nifty Auto registered their sharpest monthly drop since March 2020. Finance stocks bore the brunt of the sell-off, with Bajaj Finance tumbling 5%, extending its losing streak. Market breadth remained weak, as declines overwhelmingly outnumbered advances, underscoring the risk-off mood prevailing across Dalal Street amid global uncertainties.

The situation for the market was just getting better when the geopolitical conflict between Israel and Iran got worse. With no clarity emerging from the US, the equation is sending ripples through global markets, pushing crude oil prices higher amid concerns over supply disruptions, particularly in the Strait of Hormuz. Rising oil prices are impacting transportation, energy, and food costs, raising inflation risks just as central banks were beginning to ease policy.

The intraday charts shown below also indicate that the gap resistance zone around the 22,800 mark played a role in the market recovery, halting its progress. As trends try their best to recover, we are now observing that the trendline support from the lower levels around 22,100 will come into play.

A look at the Nifty Bank indicates that room till 49,000 has now opened up as the strong is given away, the bulls will attempt to rebound. The Nifty Bank is a sector that should be tracked. Once 49,000 is breached, there could be more pain extended with some stock-specific action. At the moment, there are divergent views being displayed across all the component stocks. PSU Banks or private banks are exhibiting bearishness, making it difficult for the Nifty Bank to recover. This, in turn, will spill over to other sectors such as auto, realty, and finance. Despite markets on Monday showing some signs of a recovery, the inability of the Nifty Bank to clear the 55,100 mark seems limited in this curtailed week. Till then, this index holds the key to some trends to recover.

We are now observing that the Max Pain Point has shifted to 22,450 as the PCR has retained itself just above 1, indicating that the lower levels are being defended. However, one must accept that the selling pressure has stepped up considerably once again. As trends are unable to hold on to the bullish bias seen on Monday, we continue to witness deterioration in prices, thus leading the trends through some challenging times. Time to stay alert, as trends are firmly etched lower with no signs of recovery.

At the moment, the bearishness has not been profound, dragging the index much lower. Until we see the Nifty move above 22,800 decisively, we could have a sell-on-rally approach. Currently, the Open Interest data highlights 22,000 as the next set of supports emerging. As the ranging market is in play, we need to be quick in profit-taking as the trend does not have sufficient steam to move strongly in either direction.

Why it’s recommended: IndusInd Bank Ltd (INDUSINDBK), founded in 1994 by S.P. Hinduja, is a prominent Indian new-generation private-sector bank headquartered in Mumbai. It serves over 40 million customers with a network of over 3,000 branches and ATMs. The sharp drop beyond the support region suggests further decline is possible. The value region around 775 levels that held the prices seems to be broken with a decisive bearish candle. With the RSI showing continued selling pressure, we can now consider the possibility of further decline in the store. With some volumes in decline, consider initiating a multi-week sell. Go short.

52-week low: ₹618.05,

Volume: 4.57M

Technical analysis: Support at ₹580 | Resistance at ₹730.

Risk factors: Concerns over asset quality, lapses in internal controls for derivative transactions, and high promoter activities.

Sell: below ₹750.

Stop loss: ₹790.

Target price: ₹685 (2 Months)

Why it’s recommended: Ipca Laboratories Ltd (IPCALAB) is a leading Indian multinational pharmaceutical company with a fully integrated manufacturing facility producing over 350 formulations and 80+ Active Pharmaceutical Ingredients (APIs) for various therapeutic segments, and exporting to over 120 countries. A reaction into the TS & KS bands and a subsequent recovery forming a nice rounding formation revival. A steady hold of the lower levels around the TS & KS bands augurs well for some upside if the market rebounds. A rise in the DI indicates that we can look to initiate a long opportunity here for a push to higher levels. Go long now.

P/E: 50.48,

52-week high: ₹1,624,

Volume: 450.01K.

Technical analysis: Support at ₹1,500 | Resistance at ₹1,800.

Risk factors: Regulatory issues and high valuation.

Buy: Above ₹1,610

Stop loss: ₹1,540

Target price: ₹1,785 (Two months)

Raja Venkatraman is co-founder, NeoTrader.

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.

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