Eternal, Trent top stock calls by Angel One's Osho Krishan; here's why

Technical indicators suggest that Eternal and Trent may be entering a period of sustained growth, according to Osho Krishan

Stock recommendations:

Eternal 

View - Bullish

Last Close – ₹261.85

 

Eternal has shown impressive growth, surging nearly 10 per cent in the past trading week. This surge has been accompanied by several key developments, starting with a consolidation breakout to surpass 200 DSMA, which suggests that market interest is building and points to the possibility of a reversal in its trend. Additionally, the MACD line signifies a positive crossover near its zero line, adding a bullish quotient. 

 

Overall, these technical indicators suggest that Eternal may be entering a period of sustained growth, making it an intriguing option for those looking to invest. Hence, we recommend 'Buy' Eternal on dips of ₹250-245 | stoploss (SL): ₹232 | Target (TGT): ₹270-275.  

 

Trent 

View - Bullish

Last Close – ₹5,777

 

Trent has experienced a gradual resurgence in the last trading weeks, leading to a strong weekly closure. The counter is firmly positioned above all its short-term EMAs on the daily time frame structure after an extended period, suggesting inherent strength, and is expected to continue in the same manner in the near term. 

 

Additionally, the counter has witnessed a breakout from its consolidation phase and is backed by a positive crossover on the 14-day RSI, adding to its bullish stance. Hence, we recommend 'Buy' Trent around ₹5,750 | SL: ₹5,440 | TGT: ₹6,240-6,260.

 

(This article is by Osho Krishan, senior analyst, technical & derivatives, Angel One. Views expressed are his own.)