Osho Krishan of Angel One recommends buying these two defense stocks today | News on Markets

The Indian stock markets have stabilized following the decline in the previous trading week, with the benchmark index showing minimal changes in price activity.

The week commenced with a minor setback but swiftly found support and transitioned into a consolidation phase. It was a relatively calm week for trading, suggesting a period of respite as the Nifty50 closed marginally below 25000,with a 0.20 percent weekly correction.

The recent historical trends indicate that such a breather as constructive development and likely to pave the way for the primary trend in the comparable period. From a technical standpoint, the 50 DEMA has been a significant barrier in the short term, positioned around 25050-25080, and a decisive breakthrough above this level would be instrumental in accelerating the bullish momentum toward higher levels.

Additionally, the intermediate resistance zone is centered around 25250-25300, aligning with the 20 DEMA, and a strong breakthrough at this level could potentially trigger the next phase of the rally from a positional perspective. At the lower end, the recent low of 24800-24700 is expected to offer robust support and mitigate any potential setbacks.

However, a decline below this level could be disruptive, potentially leading to further correction, and would necessitate a comprehensive review with strong risk management. In the last few months, all such intermediate corrections were comfortably bought into, but this time we are a bit skeptical of repeating the same behaviour. Let’s see how things pan out globally and

HAL has undergone a corrective phase from its peak of Rs 5,659 towards the 200 SMA on the daily time frame chart, coinciding with the previous breakout zone. In the last couple of trading sessions, the counter has seen an initial sign of reversal from the oversold terrain, suggesting a favorable risk-reward ratio for short-term investors.

Also, on the oscillator front, the 14-day RSI has seen a positive crossover, suggesting a potential upside move for the counter.