Three stock ideas by Osho Krishan of Anand Rathi: Buy Bajaj Consumer, MCX

BUY BAJAJ CONSUMER CARE | TARGET: Rs 324 | STOP LOSS: Rs 280

Bajaj Consumer Care has been consolidating in a narrow zone for the past few trading weeks. Although in the last session, it witnessed some surge which was backed by an increase in average traded volumes, indicating strength in its up-move. The stock has been trading in the cycle of higher highs higher bottoms since the Covid lows, suggesting an overall positive stance in the counter which is even backed by the RSI index that is comfortably surging northwards post positive crossover.

BUY MCX | TARGET: Rs 1,710 | STOP LOSS: Rs 1,540

MCX witnessed a splurge in the last trading session on the back of robust volumes and breached its consolidation zone. Also, the stock has tested the unfilled gap on the higher side and is aggressively headed towards the sloping trend-line from its lifetime high zone. On the conservative side, the downside is limited as the cluster of exponential moving averages are placed nearby, wherein on the oscillator front 14-period RSI shows a positive crossover, adding a bullish stance for the near future.

BUY COCHIN SHIPYARD | TARGET: Rs 429 | STOP LOSS: Rs 378

Cochin Shipyard saw robust volumes in the last trading session, and the stock has soared higher than its immediate previous high and even breached its sloping trend-line indicating inherent strength in the counter. On the daily time frame, the stock is placed well above all its major moving averages, affirming the bullishness in the counter. On Bollinger band (20, 2) the counter is headed strongly above the upper band, indicating a near-term expansion in the band.

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