Top Stock Recommendations: Osho Krishan of Angel One suggests buying Suven Life Sciences, and Sutlej Textiles today

livemint.com:

Also Read: Nifty 50 Share Price Live Updates: Nifty 50 is trading at ₹23858.4Nifty 50 Outlook by Osho Krishan, Sr. Analyst, Technical & Derivatives, Angel OneThe benchmark index continues its positive run. After the initial hiccup on Monday, prices have gained strong momentum, closing in the green for the third consecutive session.

This aligns with our earlier outlook. With no signs of weakness, maintaining a positive bias for the upcoming session is advisable. However, with hourly indicators trading in the overbought zone, traders should avoid complacent long bets and consider booking some profits at higher levels, especially as it’s the monthly F&O expiry session.

The levels around 24,000 - 24,100 appear to be a stiff resistance for now. Conversely, immediate support has shifted higher to around 23,650, with strong support at the bullish gap near 23,550. Traders should monitor these key support levels, as dips toward them could present good buying opportunities, while timely profit booking at higher levels is also recommended.For the last two sessions, heavyweight counters have driven the market higher, with Reliance up more than 4% in the last session, significantly contributing to the benchmark's rise.

In this scenario, midcaps have taken a back seat, with no major traction seen from their end. We believe the shift in momentum and sector rotation will continue. Traders need to stay agile, shifting focus between themes to capitalise on sector rotations, said Osho Krishan, Sr.