Angel One’s Osho Krishan warns investors to remain cautious as Indian stocks show volatility near support levels, amid shifting foreign flows and sector preferences towards mid-caps and growth themes.
Angel One’s Osho Krishan has urged investors to keep their bets measured after a choppy week in Indian equities, with the Nifty 50 ending lower as selling pressure persisted across broader markets. The benchmark slipped 0.83 per cent over the week to 24,366, and Krishan said the index has been hovering near its 20-day exponential moving average, a sign that traders remain hesitant about the next leg of the move.
According to the report, the current pullback still looks like a normal retracement rather than a full trend reversal, but a drop below the week’s low of 24,265 could weaken the technical picture. In that case, the next likely support band lies around 24,200-24,150, which lines up with the 50 per cent Fibonacci retracement and key moving averages. On the upside, a sustained move above 24,500 could revive the broader uptrend and open the way towards 24,730, the 200-day simple moving average.
Krishan said investors should avoid aggressive positioning until the market gives a clearer directional signal, while continuing to watch domestic and global triggers that could shape sentiment in the weeks ahead. That cautious tone comes as market strategists at Angel One have also pointed to shifting foreign investor flows and sector rotation in recent commentary, with interest moving towards mid-caps and growth themes in areas such as technology and industrials.
Against that backdrop, Krishan picked three stocks he sees as technically constructive. Aequs, he said, remains in a steady uptrend and is trading above its 20-day EMA, with the SuperTrend and other indicators pointing higher; he suggested buying near ₹240 with a target range of ₹285-290. Asahi India Glass, he added, has moved above its 200-day average and may be building a bullish continuation pattern, with a buy zone around ₹930 and a target of ₹1,020-1,050. Dynamatic Technologies, meanwhile, has rebounded above key moving averages on supportive volumes after a long consolidation, with a buy call near ₹11,000-11,100 and a target of ₹12,000-12,200.
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