Top Stock Picks: Life Insurance Corp of India and Torrent Power by Angel One’s Osho Krishan

The Indian stock market opened lower on Thursday due to profit booking in most sectors. Asian Paints extended its losses after missing quarterly earnings estimates.

At 9:51 AM IST, the Sensex was down 0.12% at 80,808.34, while the Nifty 50 gained 0.12% to reach 24,642.75.

Market Insights by Dr. V K Vijayakumar, Geojit Financial Services:

The upcoming US presidential elections are starting to influence global markets. If Trump wins, expect higher import duties on Chinese goods and a weaker dollar. For India, a declining dollar could mean more foreign investments, boosting the market.

Nifty 50 Outlook by Osho Krishan, Angel One:

The Nifty 50 index showed some volatility but ended slightly above 24,600. It has been trading within a narrow range of 80 points, which makes it challenging for traders. The support zone is at 24,500-24,400, and the next key level to watch is 24,700-24,750. Sectoral rotation and thematic movements are important to watch as they drive market trends. Global developments after the mid-week holiday will also play a key role in shaping market sentiment.

Stock Recommendations by Osho Krishan:

Life Insurance Corporation of India (LIC):

LIC saw a strong price increase, breaking its previous high on the daily chart with significant trading volumes. Indicators suggest a potential upward trend.

• Buy around: ₹1,100-1,080
• Stop loss: ₹988
• Target: ₹1,280

Torrent Power Ltd:

Torrent Power has been consolidating but recently showed signs of gaining momentum. It’s trading above key EMAs, with a positive RSI crossover.

• Buy around: ₹1,520
• Stop loss: ₹1,455
• Target: ₹1,630