Osho Krishan of Anand Rathi is bullish on HUL, PowerGrid; here's why

BUY HINDUSTAN UNILEVER | TARGET: Rs 2,500 | STOP LOSS: Rs 2,300

Hindustan Unilever is placed in an upward trending channel on the weekly time frame, in which it is currently placed near the lower line; historically, this has acted as a strong support base for the stock. Also, on the daily time frame, the stock is hovering near 21 DEMA and is in the cycle of higher highs higher bottoms on a wider time frame. In addition, the counter has declared a dividend of Rs 17 for which the ex-date is June 14 and this could trigger further demand in near future too.

BUY INFO EDGE LTD | TARGET: Rs 5,100 | STOP LOSS: Rs 4,470

The stock has rebounded from its 200 DEMA on the daily chart and soared above all its major exponential moving averages. Historically, the stock has risen significantly post testing its long-term moving average and the same is expected this time too. On the oscillator front, 14 period RSI has also seen a resurgence from the oversold region and is currently placed in a comfort zone, heading northwards post positive crossover, affirming the bullish view on the counter.

BUY POWERGRID | TARGET: Rs 260 | STOP LOSS: Rs 225

PowerGrid has witnessed a breakout and is placed at its lifetime high zone, indicating inherent strength in the counter. The stock is in a secular Bull Run as it is placed above all its major exponential moving averages on all time frames and even on the oscillator front; most of the indicators show bullishness is likely to remain intact in near future. Hence, any minor correction could be utilised to accumulate the counter from a short to medium-term perspective.

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