Top Stock Recommendations: Osho Krishan of Angel One suggests buying FACT and Varun Beverages today

The NSE Nifty 50 opened astatine 22,316.90, down 85.50 points, oregon 0.38%, portion the 30-share BSE Sensex started disconnected astatine 73,572.34 level, down 278.77 points, oregon 0.38%.

The overarching signifier of this market, according to Dr. V K Vijayakumar, Chief Investment Strategist astatine Geojit Financial Services, is its bullishness successful spite of antagonistic triggers. Considering Axis Bank's Q4 net exceeded expectations, the marketplace volition respond positively. Axis has a favourable value. The regulatory restrictions connected Kotak Bank volition measurement connected the stock. There won't beryllium immoderate important corrections to the marketplace due to the fact that the VIX is astatine debased levels. We tin expect consolidation successful the adjacent future.

Also Read: Day trading stocks to buy: Anand Rathi adept recommends IndusInd Bank, Federal Bank and GAIL to bargain contiguous — April 25

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Nifty 50 Outlook by Osho Krishan, Sr. Analyst, Technical & Derivatives, Angel One

Despite the bulls maintaining their upward trajectory for the 4th consecutive session, there's a noticeable deficiency of momentum, evident from the enactment of a 'DOJI' candlestick signifier connected the regular chart. This signifier typically signals uncertainty, peculiarly arsenic it coincides with a captious absorption level of 61.8% retracement and a bearish gap. Going ahead, the 22,500 level remains a important absorption connected the monthly expiry day, but a sustained commercialized supra 22,500–22,550 could trigger further upward movement, perchance driven by declaration adjustments. Conversely, contiguous enactment levels are identified astatine 22,300–22,250, with a pivotal enactment portion astir the bullish spread of 22,200–22,180. Traders should intimately show these levels, arsenic a play of consolidation whitethorn precede a directional determination connected the expiry day, said Osho Krishan, Sr. Analyst, Technical & Derivatives, Angel One.

While the cardinal indices person faced challenges recently, the small-cap scale has achieved a caller high, demonstrating akin spot successful the mid-cap segment. Consequently, traders are encouraged to absorption connected these areas, which connection opportunities for outperformance, explained Krishan.

Also Read: Day trading stocks to buy: Anand Rathi adept recommends IndusInd Bank, Federal Bank and GAIL to bargain contiguous — April 25

Top Stock Recommendations For Thursday by Osho Krishan

On stocks to bargain today, Osho Krishan recommended 2 stocks - Fertilisers and Chemicals Travancore Ltd (FACT) and Varun Beverages Ltd.

Fertilisers and Chemicals Travancore Ltd (FACT)

FACT has been trading successful a corrective signifier for the past mates of months, which brought it to the beardown enactment portion of 200 SMA connected the regular chart. In the past 2 sessions, the antagonistic witnessed beardown buying traction, which led it to surpass the contiguous plaything high, construing a affirmative development. Also, the beardown measurement associated with the consolidation breakout suggests the antagonistic is poised for upward movement. Simultaneously, the method parameters are signaling an aboriginal motion of reversal, suggesting an accidental to gauge upcoming momentum successful the counter.

"Hence, we urge to BUY FACT astir ₹705-700, keeping a halt nonaccomplishment of ₹660 for a positional people of ₹780," said Krishan. 

Also Read: Stocks to watch: Axis Bank, Macrotech, LTIM, Nestle, Bajaj Finance, KMB

Varun Beverages Ltd

Varun Beverages has been successful a secular uptrend, hovering supra each its large EMAs connected the regular clip frame. The banal has witnessed beardown traction successful the past mates of trading sessions, which suggests a consolidation breakout and potent momentum successful the adjacent term. On the oscillator front, the 14-period RSI has seen a affirmative crossover from the little levels, adding a bullish quotient to the counter's superior trend.

"Hence, we urge to BUY  Varun Beverages astir ₹1,440–1,430, keeping a halt nonaccomplishment of ₹1,380 for a positional people of ₹1,520," said Osho. 

Also Read: Stock marketplace today: Sensex, Nifty 50 extremity successful the greenish for 3rd consecutive session; India VIX falls 20%

Disclaimer: The views and recommendations supra are those of idiosyncratic analysts, experts and broking companies, not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decision.

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Published: 25 Apr 2024, 10:00 AM IST