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Stock market today: Indian equity indices started on a subdued note on Thursday as declines in IT shares countered broader gains, with investors remaining cautious ahead of a possible trade agreement with the US and the upcoming June-quarter earnings season.

Sensex declined 76.99 points to 83,461.90 in early trade; Nifty 50 dipped 23.15 points to 25,452.95.

Asian markets edged up at the opening, reflecting the overnight increases on Wall Street following US President Donald Trump’s final tariff announcements impacting seven minor trading partners. Earlier this week, the president also suggested that an agreement with India was close.

Osho Krishan from Angel One believes that the Nifty 50 is set for a breakout over the important resistance mark at 25,600, which could revitalize bullish momentum and push towards a target level of 26,000. Krishan recommends two stocks to buy on Thursday. Here's what he says about the overall market.

On the daily chart, the time-wise correction that began last week has now clearly defined a well-established range between 25,300 and 25,600. A meaningful move is likely to occur only once this range is decisively broken on either side.

Given the prevailing upward trend in the market, a decisive breakout above the key resistance level at 25,600 could reenergize bullish momentum and lead to significant advances toward the target level of 26,000. This movement may also set the stage for a potential challenge of the historical peak located near 26,277. On the other hand, if increased market volatility triggers a decline below the lower boundary of the established trading range at 25,300, which notably coincides with the 20-day exponential moving average, it could signal a potential downturn, directing prices toward the support zone between 25,200 and 25,100.

The markets currently appear to be in a wait-and-see mode, as participants seek clarity regarding developments related to US trade tariffs and the forthcoming corporate earnings season, particularly from prominent companies. These events are expected to serve as significant directional indicators. In the interim, traders are advised to remain vigilant and closely monitor the established trading range. It is prudent to utilize the aforementioned levels to strategically plan trades with a disciplined approach.

On stocks to buy on Thursday, Osho Krishan of Angel One recommended two stocks - Container Corporation of India Ltd (Concor), and Waaree Energies Ltd.

CONCOR share price has demonstrated a notable recovery from the convergence of its EMAs on the daily chart, signaling a positive shift in market sentiment. This upward movement has coincided with a breakout from a period of consolidation, characterized by an increase in trading volumes that adds credibility to the bullish trend. In terms of technical indicators, several key parameters are reinforcing this optimistic outlook. The 14-day RSI has exhibited a positive crossover, suggesting that momentum is building in favor of the buyers.

Hence, we recommend to BUY CONCOR share price around ₹610-600, keeping a stop loss at ₹580 for a potential Target of ₹650-660.

Waaree Energies share price has been on a positive trend, hovering above all its short term EMAs on the daily time frame chart. The counter is in a cycle of higher highs - higher lows, accompanied by positive technical parameters. Additionally, the risk-reward is quite favorable at the current juncture, making it a lucrative option to accumulate from a short to medium term perspective.

Hence, we recommend to BUY Waaree Energies share price around ₹3,100, keeping a stop loss at ₹2,900 for a potential Target of ₹3,360-3,400.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

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