Stocks to buy or sell: Osho Krishan of Angel One suggests buying CG Power, JSW Energy today

Stock Market today: The main domestic indices, Nifty 50 and Sensex, started on a positive note on Thursday, supported by the energy and financial sectors and following gains from other Asian markets, after US President Donald Trumpgranted a temporary delay on tariffs for automobile imports from Mexico and Canada.

In early trading, the Sensex increased by 87.42 points, reaching 73,817.65, while the Nifty 50 rose 35.05 points to 22,372.35.

Prominent financial stocks gained 0.5% after the Reserve Bank of India (RBI) announced a $21 billion liquidity boost for the banking sector. According to reports, the central bank has already provided over 4.5 trillion rupees in liquidity to the banking system since the middle of January.

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, indicated that we find ourselves in an extremely uncertain and volatile landscape concerning global trade, the global economy, and financial markets. The ultimate outcome of Trump’s tariff policy remains ambiguous. Trump’s recent announcement of exempting Canadian and Mexican auto imports from newly raised tariffs suggests that he aims to negotiate from a stronger vantage point. Therefore, negotiations and agreements are likely, although they may not proceed smoothly.

The decline of the dollar index to 104.3 is advantageous for emerging markets such as India. If this trend continues, foreign institutional investor (FII) selling is expected to cease, opening the door for a market rally.

The Reserve Bank of India’s choice to inject ₹1.9 trillion into the banking sector is encouraging news for banks and non-banking financial companies (NBFCs). The drop in Brent crude prices below $70 is another macroeconomic advantage for India, which the markets are likely to react to positively.

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

The benchmark index ended its 10-day losing streak and, notably, managed to close above the previous session’s high for the first time in a month. This recovery was well-supported by broad-based buying, which was already indicated in our previous outlook through improving market breadth, with advancing stocks outpacing decliners. The index had been hovering near a crucial support zone between 22,000 – 21,800, and with oscillators in deeply oversold territory, a bounce was due.

Looking ahead, we expect this positive momentum to continue. However, considering the recent trend where bounces have been short-lived and sold into, we would avoid labeling this as a confirmed bottom just yet. Instead, we suggest approaching the market step by step, following the price action closely. On the upside, immediate resistance is placed around 22,450 – 22,500, which coincides with the bearish gap left last week.

On the downside, support is seen at 22,200, followed by today’s low near 22,050 and the psychological mark of 22,000. With the weekly expiry ahead, traders should keep these key levels in mind while planning their trades. We continue to advise focusing on stock-specific opportunities rather than taking aggressive index-based positions to enhance outperformance. Additionally, with ongoing geopolitical tensions and concerns over tariff wars, traders should stay alert and avoid complacency as these factors may continue to influence market sentiment.

Stocks To Buy on Thursday – Osho Krishan

On stocks to buy on Thursday, Osho Krishan of Angel One recommended two stocks – CG Power & Industrial Solutions Ltd, and JSW Energy Ltd.

CG Power

CG Power has been navigating a phase of consolidation over the past few trading weeks, characterized by limited price movement as the market seeks balance. Recently, however, the stock has shown a notable increase in buying activity, signaling a potential shift in sentiment. The appearance of three consecutive green candlesticks on the daily chart is particularly significant as it highlights a robust bullish trend with strong upward momentum. Moreover, the 14-period RSI has demonstrated an encouraging pattern of forming higher highs and higher lows. This positive divergence suggests increasing strength in the buying pressure, further solidifying a bullish outlook in the near term.

Hence, we recommend to BUY CG Power around ₹610-600 keeping a stop loss of ₹560 for a potential Target of ₹680.

JSW Energy

JSW Energy has recently transitioned out of a consolidation phase that lasted for several weeks. This shift is highlighted by its rise above the 21-day exponential moving average (DEMA), signaling a departure from a period of low volatility. Moreover, the stock has broken through its previous swing high, reinforcing the positive momentum in the market. The various technical indicators are now showing strong alignment with these developments, suggesting a robust bullish outlook. Given these factors, it is anticipated that the stock will continue its upward trajectory in the upcoming weeks.

Hence, we recommend to BUY JSW Energy around ₹500 keeping a stop loss of ₹460 for a potential Target of ₹560-570.

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.