Stocks to Buy Today: Angel One’s Osho Krishan Recommends Tata Chemicals, CDSL – 29 May

Stocks to Buy or Sell: Osho Krishan of Angel One Recommends Tata Chemicals and CDSL on 29 May

Date: May 29, 2025
Author: Prasad Bhave

Market Overview

Indian equity markets opened on a cautious note on Wednesday, May 29, amid global economic uncertainties and investors awaiting key domestic data points. However, sector-specific momentum continues to offer selective opportunities for traders and long-term investors alike.

As indices witness minor consolidations near all-time highs, expert insights can help navigate stock-specific movements. Osho Krishan, Sr. Analyst - Technical & Derivative Research at Angel One, has identified Tata Chemicals and CDSL (Central Depository Services Ltd.) as his top stock picks for the day.

Expert Picks for 29 May: Tata Chemicals and CDSL

Osho Krishan’s latest stock calls are based on technical indicators, market positioning, and near-term potential. Here’s a closer look at each recommendation.

1. Tata Chemicals Ltd. – BUY

• Recommended Price Range: ₹1,090–1,100

• Target Price: ₹1,165

• Stop Loss: ₹1,050

• Investment Horizon: Short Term

Why Tata Chemicals?

Tata Chemicals has been on a gradual recovery path after showing signs of bottoming out in April. The stock has recently broken through a critical resistance level, indicating bullish strength.

“Tata Chemicals has formed a bullish price structure after consolidating in a narrow range for the past few weeks. The breakout, supported by rising volumes, reflects strong buying interest,” said Osho Krishan.

The stock has also formed a higher-high, higher-low pattern on the daily chart, which is a classic indicator of an uptrend. Momentum oscillators like RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) have also turned positive, further supporting the buy call.

2. CDSL – BUY

• Recommended Price Range: ₹1,930–1,950

• Target Price: ₹2,050

• Stop Loss: ₹1,880

• Investment Horizon: Short Term

Why CDSL?

CDSL, one of India’s two major depositories, has shown consistent strength on the technical charts. The stock recently bounced off a key support level and is approaching its 52-week high, indicating sustained bullish momentum.

“CDSL has been witnessing higher investor participation over the past sessions. The stock has reclaimed critical moving averages and is exhibiting a strong trend continuation pattern,” noted Krishan.

Volumes have seen a noticeable spike in recent trading sessions, indicating institutional interest. With digital adoption increasing and financial inclusion growing in India, depository services like CDSL stand to benefit fundamentally as well.

Market Sentiment and Broader Trends

The Nifty 50 and Sensex are trading near record highs but showing signs of fatigue due to mixed global cues and profit booking. The near-term outlook remains neutral to positive, with volatility expected around macroeconomic announcements and the upcoming RBI policy meeting.

Despite the broader index consolidation, sectoral indices like Nifty Auto, Nifty Pharma, and Nifty PSU Bank are showing strength. Experts suggest that selective stock-picking strategies, rather than index-based plays, will likely outperform in the current environment.

“In such a market phase, focusing on technically sound stocks with strong fundamentals is key. Investors should maintain strict stop losses and avoid over-leveraging,” advised Krishan.

Investor Outlook

For short-term traders, both Tata Chemicals and CDSL offer favorable risk-reward setups. Technical indicators and broader sectoral trends support potential upside in these counters. However, market participants are advised to follow disciplined risk management given the heightened volatility.

Long-term investors may also keep these stocks on their radar, especially CDSL, which is poised to benefit from increasing retail investor participation in Indian capital markets.

Conclusion

As the market treads cautiously near all-time highs, informed stock-picking remains crucial. Osho Krishan’s technical buy calls on Tata Chemicals and CDSL for May 29 reflect strategic opportunities in specific sectors. Investors and traders can consider these picks with proper stop losses and time-bound targets, keeping an eye on market dynamics and broader macro indicators.