Stocks to buy or sell: Osho Krishan of Angel One suggests buying HCL Tech, Gail shares today - 12 June

Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, opened with little movement on Thursday as investors evaluated the US-China trade agreement and rising tensions in the Middle East.

The Nifty 50 was down 0.13% to reach 25,106 . 45, while the Sensex slipped 0.18% to 82,365.17 by 9:57 IST. The broader small-cap stocks gained 0.2%, whereas mid-cap stocks remained unchanged.

US President Donald Trump announced that a framework regarding tariff rates had been established in order to revive the fragile trade truce with China. While this announcement boosted investor optimism, the absence of detailed information kept the markets uneasy.

At the same time, Iran indicated that it would target US bases in the Middle East if nuclear negotiations collapse and conflict with Washington erupts, intensifying geopolitical worries.

On the technical front, Osho Krishan of Angel One, recommends HCL Technologies Ltd, and Gail (India) Ltd. Krishan advises to chasing momentum and suggest entering on dips while booking profits at higher levels. Here's what he says about the overall market.

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

The prevailing market structure has remained consistent, as evidenced by the emergence of a third consecutive narrow-range candlestick with a small body on the daily chart for the benchmark index. The smoothed Relative Strength Index (RSI) is currently positioned around 75, indicating that the market is situated in an overbought territory. Despite the underlying bullish sentiment, there is a significant absence of robust follow-through.

The recent trading range of 25,050–25,250 broadly marks a key zone of 25,000–25,300, where the lower end aligns with the bullish gap support and the upper end coincides with the crucial 78.6% retracement, making this zone pivotal for the weekly expiry. Hence, we continue to advise against chasing momentum and suggest entering on dips while booking profits at higher levels.

While the index remains within a defined range, thematic plays are beginning to gain traction. Our positive outlook on the IT sector is reaffirmed, as the Nifty IT index has surpassed its recent swing high, establishing a classic "Higher Top Higher Bottom" formation. This suggests the potential for outperformance in this sector. Furthermore, Oil and Gas stocks are experiencing significant breakouts, and we expect that strength in this sector will persist in the near term.

Stocks To Buy on Thursday- Osho Krishan

On stocks to buy on Thursday, Osho Krishan of Angel One recommended two stocks - HCL Technologies Ltd, and Gail (India) Ltd.

HCL Technologies Ltd

HCL Technologies share price has observed substantial buying activity in recent sessions, having surpassed key short-term EMAs on the daily chart and exceeded the 200-DSMA after an extended period of stagnation. This recent price performance is supported by increasing trading volumes and positive crossovers of the EMAs, which contribute to a bullish sentiment. Furthermore, from a risk-reward perspective, the stock is favorably positioned and appears poised to sustain its upward trajectory in the near term.

Hence, we recommend buying HCL Technologies share price around ₹1,710-1,700, keeping a stop loss of ₹1,640 for a potential upside Target of ₹1,780-1,810.

Gail (India) Ltd

Gail share price has demonstrated a notable increase, supported by substantial trading volumes during the previous session, thereby exceeding the 200 DSMA. The stock has also surpassed its prior swing highs, and the recent positive crossover of the 21-DEMA over the 200 DSMA suggests a favorable short-term outlook. Moreover, the alignment of the 14-period momentum indicator further reinforces the bullish sentiment regarding the stock.

Hence, we recommend buying Gail share price around ₹198-195, keeping a stop loss of ₹187 for a potential upside Target of ₹212-216.

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