Stocks to buy or sell: Osho Krishan of Angel One suggests buying TVS Motor, Cholamandalam Finance today – 13 Feb 2025

Stock Market today: The domestic benchmark indices, Nifty 50 and Sensex, opened relatively unchanged on Thursday, reversing the downward trend that was seen on Wednesday, as the markets remain cautious ahead of PM Modi’s visit to the US.

The Nifty 50 index began at 23,055.75 points, reflecting an increase of 10.50 points or 0.05 percent, while the Sensex index started at 76,201.10, showing a rise of 30.02 points or 0.04 percent.

Analysts pointed out that the markets are on standby for any trade developments stemming from PM Modi’s US visit, and the recent phone conversation between Trump and Putin has bolstered market sentiment. Nevertheless, Indian markets are still experiencing pressure due to continued selling by foreign institutional investors.

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, mentioned that certain catalysts can spark a rally when the market is oversold. The Indian market is currently in a significantly oversold position, which means it could experience a rally based on favourable updates anticipated from the Trump-Modi discussions today. An agreement on mutual tariffs between the US and India seems likely.

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

The Indian equity markets experienced a turbulent session marked by high volatility. However, a strong rebound from the intraday low of 22,798 pared down the initial losses, leading to a modest recovery and a subdued close for the Nifty 50. Despite the minimal price alteration on the closing basis, the undertone portrays a bleak stature for Indian equities. Decoupled with the global developments, the initial and intensified sell-off in the benchmark index depicts lower confidence among the Bulls. However, the formation of a ‘Long-legged Doji’ candlestick pattern may offer a glimmer of hope for the bulls, although any affirmation of this would require a subsequent increase in buying activity.

On the technical front, 22,900-22,800 seems to act as a support zone, while any further correction is likely to disrupt the short-term technical structure. Conversely, 23,250-23,350 is likely to be seen as an intermediate resistance zone, followed by significant obstacles around the 23,400-23,500 subzones. The current market landscape presents significant challenges characterized by volatility and uncertainty.

In this context, it is crucial to exercise caution and resist the temptation to make impulsive decisions. Until a more stable pattern of buying emerges, implementing robust risk management strategies is essential to safeguard investments and navigate this turbulent environment effectively.

Stocks To Buy on Thursday – Osho Krishan

On stocks to buy on Thursday, Osho Krishan of Angel One recommended two stocks – TVS Motor Company Ltd, and Cholamandalam Investment and Finance Company Ltd.

TVS Motor Company Ltd

TVS Motor has positioned itself near a cluster of its EMAs and 200 SMA on the daily charts, following a significant correction from its recent peak of 2,720. This correction represents a pullback of approximately 61.80% from its upward journey, which began at a low of 2,217 and peaked at 2720. This level of retracement not only illustrates the stock’s volatility but also indicates the establishment of critical support levels that investors should closely monitor. Furthermore, the majority of technical indicators are showing a bullish sentiment, highlighting that renewed buying interest is likely to emerge in the near term, making it an intriguing point for potential investors.

Hence, we recommend to BUY TVS Motor around 2,460-2,450 keeping a stop loss of 2,350 for a potential Target of 2,650.

Cholamandalam Investment and Finance Company Ltd

Cholamandalam Investment has recently exhibited a significant upward movement, breaking free from its previous consolidation zone as seen on daily charts. Currently, the stock is situated above a cluster of its short-term exponential moving averages (EMAs), indicating a strong potential for continued upward momentum. Additionally, technical indicators such as the RSI and the MACD are both displaying a positive divergence. This development adds to the overall bullish sentiment surrounding the stock in the near term, suggesting a favorable outlook for investors.

Hence, we recommend to BUY Cholamandalam Investment around ₹1,340-1,320 keeping a stop loss of ₹1,270 for a potential Target of ₹1,460.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.