Stocks to buy or sell: Osho Krishan of Angel One suggests buying Nestle India, FACT shares on 11 June

Stock market today: Indian equity benchmarks traded lower on Thursday as escalating tensions in the Middle East and hotter-than-expected U.S. inflation data dampened investor sentiment, triggering a risk-off mood across global markets.

As of 9:45 IST, the Nifty 50 declined 0.31% to 23,144.4, while the Sensex fell 0.34% to 73,739.13. Market breadth remained weak, with 11 of the 16 major sectoral indices trading in the red. The broader market also came under pressure, with both the small-cap and mid-cap indices slipping around 0.2% each.

Investor sentiment was weighed down after the United States launched fresh strikes on multiple targets in Iran, with President Donald Trump warning of further military action if a peace agreement is not reached. The latest escalation heightened concerns over geopolitical stability and global economic growth.

The developments pushed Brent crude oil prices up nearly 1.9% to around $95 per barrel, while broader Asian equities fell about 0.6% amid growing risk aversion.

Adding to the concerns, U.S. consumer inflation accelerated in May at its fastest pace in three years, raising expectations that the Federal Reserve may keep interest rates elevated for longer.

Foreign portfolio investors (FPIs) have remained heavy sellers of Indian equities, offloading a record $30.4 billion so far in 2026. Reflecting pressure from persistent outflows and global uncertainties, the Nifty 50 has declined roughly 12% year to date.

Nifty 50 Outlook by Osho Krishan, Sr. Analyst, Technical & Derivatives, Angel One

The Indian equity markets commenced the session on a firm footing and sustained positive momentum throughout the trading day, supported by broad-based buying. However, profit-taking emerged in the latter part of the session and intensified in the penultimate hour, resulting in a sharp reversal. Consequently, the benchmark index relinquished its intraday gains, slipped into negative territory, and eventually settled around 23,200, ending the day 0.12% lower.

Nifty 50 continues to exhibit a cautious tone, as reflected in consecutive small-bodied candles on the daily chart, indicating indecision among market participants. From a technical perspective, the overall structure remains fragile, as it follows a sequence of lower tops and lower bottoms. The index is also trading below its key moving averages, reinforcing the prevailing bearish undertone. Immediate resistance is placed at the 20-DEMA near 23,550, followed by the 50-DEMA around 23,800. Unless these levels are decisively reclaimed, aggressive long positions should be avoided. On the downside, the recent lows around the 23,100-23,000 zone remain a crucial support area, aligning with both a psychological level and the 61.8% retracement of the April rally.

Simultaneously, BankNifty's relative resilience is a key factor supporting Nifty 50. Although the banking index witnessed some profit-taking during the session, it continues to hold above its recent breakout levels, preserving its positive structure. Going forward, BankNifty’s price action is likely to be instrumental in determining whether Nifty 50 successfully defends its support base or slips below it. Moreover, ratio analysis continues to favour BankNifty, indicating a higher probability of relative outperformance. Traders should therefore consider aligning their positions accordingly while keeping a close watch on the aforementioned levels.

Stocks To Buy on Thursday- Osho Krishan

On stocks to buy on Thursday, Osho Krishan of Angel One recommended two stocks - Nestle India Ltd, and Fertilizers and Chemicals Travancore Ltd (FACT).

Nestle India has been trading firmly above its key EMAs, post the resurgence from lows of 1370 subzone in the recent period. The prevailing technical structure remains constructive, indicating potential for continued upward momentum. The stock has witnessed a ‘sloping trendline’ breakout and seems poised to reclaim its high. Additionally, the positive crossover in 14-day RSI suggests strong alignment with the price action.

Hence, we recommend a BUY in Nestle India around ₹1,420-1,410 with a Stop Loss of ₹1,365 and a Target of ₹1,500-1,530.

FACT has witnessed noticeable stability post the recent recovery, with prices retracing above its short-term EMAs and 200 DSMA in the last couple of trading weeks, and momentum indicators turning bullish. Recent price action suggests stabilisation at lower levels, indicating emerging buying interest on the daily chart. Furthermore, the 14-day RSI has exhibited a positive crossover and a higher low, reinforcing the likelihood of bullish momentum.

Hence, we recommend a BUY in FACT around ₹900-890 with a Stop Loss of ₹855 and a Target of ₹960-975.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.