15 stocks to bet on as Indian markets look to rebound in Samvat 2083

Indian stock markets are expected to maintain their upward momentum on Thursday, buoyed by positive global cues. Following the US midterm elections, which saw Democrats gain ground, US stocks experienced a sharp rise. This optimistic sentiment is now being felt across global markets, including Asian and Australian stocks, which are also up in early trading.

The Nifty index, which opened at 24,300, indicates a further gain of 300 points at the market's start. However, analysts caution that the market's trajectory will depend on the outcome of the US situation, particularly after President Donald Trump used his veto power.

Experts anticipate the current momentum to persist throughout the week, thanks to the return of foreign portfolio investors who have been aggressively purchasing shares in recent days. On Wednesday alone, these investors bought over ₹7,280 crore worth of shares in the secondary market.

Corporate earnings will also play a crucial role in shaping market direction. Osho Krishan, Chief Manager of Technical & Derivatives Research at Angel One, noted that the winning streak has extended to its fifth consecutive day, indicating a strong bullish outlook and a significant boost in overall market sentiment. The involvement of broader markets, along with sectoral rotation, has emerged as a key factor driving the ongoing rally.

Furthermore, improving global cues and renewed interest from foreign institutional investors (FIIs) into Indian equities have added to the positive momentum. Technical analysis supports this trend, with the market turning positive according to experts. "The overall market bias remains positive, supported by the Nifty's five-session winning streak, a close above its 200-day EMA, and improving momentum across the broader market.

Bank Nifty has also reclaimed its 50-day EMA, adding to the positive sentiment," said Hitesh Tailor, Technical Research Analyst at Choice Broking Private Limited.