The Indian stock market continues to offer lucrative opportunities for discerning investors, and according to Osho Krishan, Technical & Derivatives Analyst at Angel One, two stocks stand out for immediate attention. With careful technical analysis and market positioning, these picks could deliver significant returns in the current trading environment.
NHPC: Powering Up for Profits
NHPC Limited has captured analyst attention with its promising chart patterns and strong fundamentals in the power sector. The stock is currently trading around ₹66.50 levels and shows all signs of a bullish breakout.
Key technical observations for NHPC:
- Stock has broken out from a consolidation phase on the daily chart
- Consistent higher highs and higher lows formation indicates strong momentum
- Robust volume activity supports the upward price movement
Trading strategy for NHPC:
- Ideal entry range: ₹65 - ₹66.50
- Target price: ₹70 - ₹71
- Stop-loss: ₹63.50 (closing basis)
Infosys: IT Major Showing Strength
Infosys, the Bengaluru-based IT behemoth, is demonstrating renewed strength after a period of consolidation. Trading around ₹1,485 levels, the stock presents an attractive risk-reward ratio for medium-term investors.
Technical factors favoring Infosys:
- Stock has formed a solid base around current levels
- Positive momentum indicators across multiple time frames
- Strong support zones provide downside protection
Trading approach for Infosys:
- Recommended entry: ₹1,475 - ₹1,490
- Upside targets: ₹1,530 - ₹1,550
- Stop-loss: ₹1,455 (closing basis)
Market Context and Risk Management
The current market environment favors selective stock picking, with sector rotation creating opportunities in specific counters. Both NHPC and Infosys benefit from their respective sector tailwinds - renewable energy momentum for NHPC and digital transformation demand for Infosys.
Important disclaimer: Investors should note that these recommendations are based on technical analysis and short-term market views. Market conditions can change rapidly, and it's crucial to maintain proper position sizing and risk management. Always consider your individual risk appetite and consult with financial advisors before making investment decisions.
The views and recommendations expressed are those of individual analysts and not necessarily reflective of the broader market sentiment. Past performance is not indicative of future results.
