Angel One’s Osho Krishan Advocates for Investment in Two Key Stocks Today: Coin Names and Symbols Revealed

  • The Sensex and the Nifty 50 began Thursday’s session with a neutral-to-negative stance due to mixed global cues.
  • According to Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, FII aggressive selling is a significant current trend in the market.
  • Osho Krishan, Sr. Analyst, Technical & Derivatives, Angel One, provides an outlook on the Nifty 50 and recommends stocks to buy today.

Get the latest stock market news and analysis, including insights on the Sensex and Nifty 50, FII selling trends, and top stock recommendations.

Market Overview

The domestic benchmark equity indices, the Sensex and the Nifty 50, began Thursday’s session with a neutral-to-negative stance on the backdrop of mixed global cues. The Nifty 50 opened at 22,289.75, down 12.75 points, while the Sensex was down 22.35 points, beginning at 73,444.04.

FII Selling Trends

According to Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, FII aggressive selling, which has reached a total of ₹15,863 crores this month, is a significant current trend in the market. Despite their continued buying, DIIs are not as aggressive as they previously were because of some uncertainty over the election results. It’s critical to recognise that, in addition to the high US bond yields, there is now another driver driving FII selling.

Nifty 50 Outlook

Osho Krishan, Sr. Analyst, Technical & Derivatives, Angel One, provides a technical analysis of the Nifty 50. He notes that the price is holding at a crucial support level, coinciding with a bullish gap and 61.8% retracement of the rally seen from April lows. The oversold intra-day conditions prompted prices to defend these key levels.

Top Stock Recommendations

For Thursday’s trading session, Osho Krishan recommends two stocks – Avenue Supermarts Ltd (DMart), and Nestlé India Ltd. DMart has seen a robust move of over 3 percent on the back of strong volumes, marking a V-shaped recovery on the daily chart. Nestlé India has seen strong traction in the last couple of trading sessions as it resurged from its 200 SMA.

Conclusion

Investors should be aware of the current FII selling trends and the neutral-to-negative stance of the Sensex and Nifty 50. The top stock recommendations for Thursday are Avenue Supermarts Ltd (DMart), and Nestlé India Ltd. It’s important to consult with a certified expert before making any investment decisions.

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