Three PSU stocks that Nilesh Jain of Anand Rathi is bullish on

The momentum indicators and oscillators have reached the oversold territory in IRCTC stock, and are showing signs of reversal

BUY IRCTC | TARGET: Rs 1,550 | STOP LOSS: Rs 1,409

The stock has breached a falling channel with higher than average volumes on the daily chart. It has also surpassed its 50-DMA which will now act as an immediate support. The momentum indicators and oscillators have reached the oversold territory and are showing signs of reversal. Based on the above rationale, we can expect the stock to make an attempt to fill the gap which is placed near 1,550 levels.

BUY HINDPETRO | TARGET: Rs 235 | STOP LOSS: Rs 214 

The stock has formed a bullish engulfing candlestick pattern along with