Stocks picks by Osho Krishan: Buy Adani Enterprises, Godrej Consumer

The mean of the Bollinger band has historically proven strong support for Adani Enterprises, making it a favourable risk-reward ratio for a short-term duration

BUY Adani Enterprises Limited | Target: Rs 1,240 | Stop loss: Rs 1,050

ADANIENT is in a secular uptrend, trading in a cycle of higher highs and higher bottoms, indicating inherent strength in the overall counter. On the daily time frame, the stock has rebounded from its 21-DEMA, and sustaining above this, is expected to march with the same tandem. Also, the mean of the Bollinger band has historically proven strong support for the counter making it a favourable risk-reward ratio for a short-term duration.

BUY Sequent Scientific Limited | Target: Rs 274 | Stop loss: Rs 232

SEQUENT has seen some minor correction from the lifetime highs in recent times and has managed to sustain at higher levels post support of its 21-DEMA on the daily time frame, which was also the consolidation zone for the stock in the past. Even on the oscillator front, the 14 period RSI has rebounded to witness a positive crossover and is all set to march northwards, reassuring the strong trend in the counter.

BUY Godrej Consumer Products Limited | Target: Rs 790 | Stop loss: Rs 700

GODREJCP has witnessed some significant surge post-breach its 200-DEMA on the daily time frame. At present, the stock has managed to sustain above the cluster of all exponential moving averages indicating inherent strength in the counter. Also, the stock has rebounded from the mean of Bollinger band and has witnessed positive crossover on 14-period RSI affirming bullish stance in the counter and the momentum is likely to be carried in near future.

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