Here's why Osho Krishan is bullish on L&T Fin, Hindustan Aero, Inox Wind

The analyst from Anand Rathi recommends to buy these stocks based on a positive technical set-up

BUY L&T FINANCE HOLDINGS LTD| TARGET: 90 | STOP LOSS: 82

L&TFH has recovered over 11 per cent from its recent swing low in the last few trading weeks and currently is consolidating near its previous swing lows and 200 DEMA on the daily chart. The stock price construes forming a strong base before another set of a rally. On technical parameters the stock is hovering well above the mean of the Bollinger (20, 2) and also the oscillator, MACD has seen positive crossover affirming the bullish stance in the counter from short to medium-term perspective.

BUY HINDUSTAN AERONAUTICS LTD | TARGET: 1490 | STOP LOSS: 1340

Hindustan Aeronautics (HAL) is hovering near its lifetime high zone and is strongly poised to test the uncharted territory in near future. The stock has seen increase in average traded volumes in the last few trading weeks even at higher levels indicating strong base formation before another set of rally. On technical front, the MACD is placed well above the signal line affirming the strength in the counter. Even from risk rewards point of view the stock is at lucrative zone.

BUY INOX WIND LTD | TARGET: 120 | STOP LOSS: 95

INOX WIND has tested the 61.80 per cent of Fibonacci retracement of the recent rally and is currently hovering near the base of the strong bullish candle which it formed a few weeks back. At present, the stock is hovering near the 100 DEMA that historically has provided strong support and a strong resurgence has been seen in the counter. The risk-reward ratio is also very lucrative as the breakout of 95 odd zone is expected to provide a cushion to the fall and the stock is expected to bounce in near future.

Osho Krishan is senior manager – Equity Research at Anand Rathi Shares & Stock Brokers. Views are personal.