Stocks to buy or sell: Osho Krishan of Angel One suggests buying PG Electroplast, Max Health shares on 12 February

Stock market today: The domestic benchmark indices began the day on a down note on Thursday, weighed down by technology firms amid diminishing hopes for a swift US interest rate cut and worries about AI impacts, as investors anticipate a busy day of earnings reports.

The Nifty 50 dropped 0.43% to 25,846.5, while the BSE Sensex fell 0.43% to 83,864.64, as reported at 9:25 IST.

Out of the 16 key sectors, twelve experienced declines. The IT index decreased by 3.6%, continuing its recent downward trend, following robust US job figures for January that weakened near-term rate cut predictions.

After a 12.6% loss in 2025, the index has experienced a 10.7% decline thus far in 2026. The broader segments, including small-caps and mid-caps, each saw a drop of 0.6% on the day.

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

Positive global cues contributed to a strong start for Indian indices; however, the follow-up momentum was missing, resulting in a lackluster performance throughout the day. Despite this, the market showed signs of continued bullish sentiment, although the Nifty 50 approaching the psychological milestone indicates a cautious outlook. Amid the gradual upmove, the Nifty 50 index managed to maintain its winning streak, closing above the 25,950 zone with a mere gain of 0.07%.

The current price action reflects a state of relative subduedness, with traders exhibiting notable hesitation around the significant 26,000 mark. This is illustrated by the emergence of small-bodied candlesticks, which typically signify uncertainty and caution in the market. From a technical viewpoint, the recent candlestick formation on the daily chart highlights a measured approach among market participants.

A breakthrough above the widely recognised psychological barrier of 26,000 could significantly shift market dynamics, paving the way for a more assertively bullish outlook. In the interim, the support zone located around 25,880-25,850 appears poised to absorb any short-term fluctuations, acting as a buffer against abrupt market movements.

Additionally, there exists a strong layer of support within the critical bullish gap stretching from 25,780 to 25,700, which could serve as a safety net for prices. Conversely, the 26,000-mark functions as a formidable resistance point. A sustained rally past this threshold may unlock potential for new long positions, driving prices toward 26,150 and possibly even higher levels in the upcoming trading sessions.

Moving forward, it is recommended to adopt a pragmatic approach to recent developments and to utilise market declines as opportunities to increase long positions. Furthermore, a diverse range of opportunities remains available, which is likely to provide the trading community with avenues for achieving outperformance.

Stocks To Buy on Thursday- Osho Krishan

On stocks to buy on Thursday, Osho Krishan of Angel One recommended two stocks - PG Electroplast Ltd, and Max Healthcare Institute Ltd.

PG Electroplast has witnessed a decent buying traction in the recent period and has surged towards the 200 DEMA after an elongated period of a consolidation phase. In the recent sessions, the strong rebound from the oversold parameters, and it is on the verge of a V-shaped recovery on the daily chart. The counter has come out of the consolidation zone after a long while and is expected to gain traction in the near period.

Hence, we recommend a BUY in PG Electroplast share price around ₹610-600 with a Stop Loss of ₹560 and a Target of ₹670-675.

Max Healthcare Institute has shown a rebound from the previous swing low in recent sessions and has surged above its 20 and 50 DEMA. From a technical perspective, the counter has shown an ‘Inverted H&S’ pattern, adding to the bullish quotient in the counter. Furthermore, the MACD histogram also portrays a bullish reversal signal on the daily time frame.

Hence, we recommend a BUY in Max Healthcare Institute around ₹1,050-1,040 with a Stop Loss of ₹990 and a Target of ₹1,120-1,140.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.