CDSL, Tata Consumer among top buys as markets regain uptrend: Rajesh Bhosale

After a brief bout of profit booking, the bulls seem to have regained control of Dalal Street, with both Nifty and Bank Nifty poised for fresh highs. According to Rajesh Bhosale, Technical Analyst at Angel One, the market mood remains constructive, and any short-term correction should be viewed as a buying opportunity.

“If you see, the last two-three sessions were a bit of profit booking, but bulls have now resumed their up move. So, bias remains the same. We are expecting new highs very soon on the Nifty. Bank Nifty is already trading in uncharted territory and we expect Nifty to do the same,” Bhosale told ET Now.

He added that Nifty has taken support around 25,800, which coincides with its recent breakout level. “Any dip towards 25,900 to 25,800 is a buying opportunity and, as highlighted, 26,200 to 26,300 — the previous high — seems to be an immediate resistance. We expect that to be crossed, but for now, 26,200 to 26,300 can be expected as immediate targets,” he said.

Top Trading Picks: CDSL and Tata Consumer

Bhosale highlighted strong momentum in capital market stocks, singling out CDSL and Tata Consumer as his preferred trading bets.

“If we see, markets are seeing strong traction and in line with that, capital market stocks are doing very good. CDSL has bounced strongly from the levels of its 200 DMA. Last week, we did see some consolidation, but now again we are seeing a channel pattern breakout as well as a flag breakout,” he explained.He recommends buying CDSL with a stop loss near ₹1,580 and expects a near-term target of around ₹1,700.On Tata Consumer, Bhosale pointed out that the stock is resuming its up move after a healthy correction.“This counter had a price correction, retesting its breakout levels, but after retesting its cup and handle pattern, the prices are resuming its up move. So, Tata Consumer can also be bought with a stop loss of 1,140 and a target of 1,250,” he said.

India VIX Spikes Amid Global UncertaintyThe India VIX, often dubbed the fear gauge, spiked nearly 9% on the day, reflecting rising uncertainty in global markets. Bhosale attributed this to external factors rather than domestic weakness.

“Yes, it has seen some significant up move, mainly due to some uncertainty with geopolitical concern — mainly with the tariff concerns. But if we see markets, overall structure seems to be biased and after retesting key supports they are resuming its up move,” he noted.

Despite the volatility, he believes the broader trend remains bullish. “Holding on to the key levels, we expect this up move to continue in the near term,” Bhosale concluded.