3 stocks Osho Krishan of Anand Rathi is bullish on: Buy Tata Coffee, Trent

Tata Coffee witnessed a consolidation breakout on the back of an increase in average trading volumes in the last trading session, suggesting a positive outlook

BUY NIPPON LIFE INDIA | TARGET: Rs 394 | STOP LOSS: Rs 350

The stock is in a secular uptrend and is comfortably hovering above its 21 DEMA on the daily chart, suggesting its inherent strength. Also on the technical parameters, the stock has recoiled from the recent consolidation zone near 50 DEMA and is now placed near the mean of the Bollinger band (20, 2). Even the 14-period RSI is indicating positive crossover along with the MACD, affirming that the overall bullish sentiment is likely to remain intact in the counter.

BUY TATA COFFEE | TARGET: Rs 198 | STOP LOSS: Rs 173

The stock witnessed a consolidation breakout on the back of an increase in average trading volumes in the last trading session, suggesting a positive outlook. On the oscillator front, 14-period RSI has seen a positive crossover and headed northwards, indicating momentum in its run. Even the mean of the Bollinger band has provided strong support and sustenance above the same and could trigger fresh long accumulation in the counter in the coming future.

BUY TRENT | TARGET: Rs 954 | STOP LOSS: Rs 830

The stock is in the cycle of higher highs higher lows on all time frames and is even placed above all its major exponential moving averages on the daily chart, indicating inherent strength in the counter. However, from the last couple of sessions, the stock has consolidated near the 21 DEMA to form a strong base and is expected to surge from here on. Even the 14-period RSI is comfortably placed in the mid zone, directing northwards, affirming the bullish stance in the counter.

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DISCLAIMER: Osho Krishan is a senior manager - equity research at Anand Rathi Shares & Stock Brokers. Views expressed are personal.