Angel One flags Nifty hurdle at 25,150; bullish on ITC, SBI, Force Motors

Home / Markets / News / Angel One flags Nifty hurdle at 25,150; bullish on ITC, SBI, Force Motors

Stock market outlook: On the upside, 25,150 on the Nifty may act as an intermediate hurdle, followed by resistance near 25,400, says Osho Krishan of Angel One.

Stocks to buy today: Angel One recommends ITC, SBI and Force Motors.

Osho Krishan Mumbai

Listen to This Article

Nifty reclaims 25,000-mark

Indian equity markets witnessed an exceptional week, with the benchmark index surging over 8.50 per cent, supported by favorable global cues and encouraging macroeconomic developments. The strong upward momentum enabled the Nifty to decisively reclaim the crucial 25,000-mark, registering an impressive rally of nearly 2,000 points. This remarkable performance ranks among the strongest weekly gains in recent market history, underscoring a significant revival in investor confidence, robust buying interest, and strengthening bullish sentiment. The broad-based optimism reflects improving market dynamics and renewed expectations of sustained upward momentum. Further strengthening the positive sentiment, the Nifty50 recorded its highest close of the current financial year, reflecting a meaningful recovery in investor confidence following an extended phase of correction and consolidation. Broad-based market participation and sectoral rotation have provided further impetus to the rally. Additionally, supportive global developments, easing crude oil prices, appreciation in the Indian rupee and, most importantly, renewed FII inflows into domestic equities have collectively reinforced the upward momentum, strengthening the overall market outlook. From a technical perspective, the Nifty50 has staged a sharp vertical rally, decisively moving above all its key EMAs and the 200-DSMA and with this, momentum indicators have entered overbought territory, warranting a cautious approach. Some profit booking cannot be ruled out and should be viewed as a healthy consolidation to sustain the broader bullish trend. On the downside, the 24,770-24,500 zone is expected to offer immediate cushion, while the bullish gap around 24,300 remains a crucial support zone. On the upside, 25,150 may act as an intermediate hurdle, followed by resistance near 25,400.ALSO READ: Stock Market LIVE: GIFT Nifty indicates positive open; most Asian markets rebound; Brent below $98 Going ahead, amid the festive season and truncated trading week, traders should adopt a stock-specific approach, with thematic opportunities remaining in focus. Given the sharp rally and overheated technical indicators, a conservative stance coupled with disciplined risk management is advisable. With most of the easy gains already captured, selective participation and prudent position sizing will be key.

Stock recommendations by Angel One

Force Motors View: Bullish Last Close: ₹18,968Force Motors stock has staged a strong recovery from its historical support zone of 1650-1700, which coincides with a previous consolidation range. The stock has reclaimed all key EMAs, indicating improving bullish momentum and underlying strength. Its resilient pullback structure further reinforces the positive outlook. Trading near previous swing highs, the counter appears poised for further upside, supported by a decisive RSI resistance breakout, signalling strengthening momentum. Hence, we recommend to BUY Force Motors around ₹18,800-18,600| SL: ₹17,200 | TGT: ₹21,000-21,200 ITC View: Bullish Last Close: ₹283ITC has registered a breakout from its downward-sloping channel over the past week, following a sharp corrective phase, indicating the potential emergence of a trend reversal from oversold levels. The stock has reclaimed its 20- and 50-DEMA, signalling improving price momentum. Furthermore, the 14-day RSI has rebounded strongly from oversold territory, historically associated with meaningful recoveries. This technical configuration offers a favourable risk-reward proposition, subject to sustained momentum and further confirmation. Hence, we recommend to BUY ITC around ₹280 | SL: ₹260 | TGT: ₹300-315SBI View: Bullish Last Close: ₹1,018SBI stock has witnessed a notable rebound from its crucial support zone around ₹940, with the formation of a potential double-bottom pattern at these pivotal levels, indicating the possibility of a trend reversal. Furthermore, both MACD and RSI exhibit positive momentum, supported by bullish crossovers and sustained strength above key reference levels. These technical indicators collectively reinforce the improving bullish outlook and suggest the potential for further upside momentum. Hence, we recommend to BUY SBI around ₹1010-1,000 | SL: ₹940| TGT: ₹1,080-1,100.