NewsStocksAngel One's Rajesh Bhosale Recommends MFSL and Tata Consumer Products Amid Market ConsolidationAngel One's Rajesh Bhosale Recommends MFSL and Tata Consumer Products Amid Market Consolidation
Rajesh Bhosale from Angel One recommends MFSL (target ₹1,780, stop loss ₹1,680) and Tata Consumer Products (target ₹1,210, stop loss ₹1,164) amid Nifty consolidation after fresh highs. He expects Nifty to reach ₹26,500 levels and suggests buying dips around ₹26,200 support. Additional opportunities identified in defensive stocks BEL and Nestlé, with focus on stock-specific approach during market pause.
*this image is generated using AI for illustrative purposes only.
Indian equity markets entered a consolidation phase after the Nifty touched fresh all-time highs, with market expert Rajesh Bhosale from Angel One identifying selective stock opportunities despite the broader index pause. The benchmark index showed early strength driven by banking stocks but witnessed profit-taking in afternoon trading, reflecting near-term caution among investors.
Market Outlook and Strategy
Bhosale emphasized that the current sideways movement should not be interpreted as market weakness, attributing the consolidation to elevated India VIX levels amid uncertainty surrounding Donald Trump's policies. He maintains a constructive view on the market's technical structure following the sharp breakout witnessed late last week.
"Any kind of consolidation like this or any dip towards the breakout levels of around ₹26,200 should be bought. We expect Nifty to head towards the levels of ₹26,500 this week and maybe further ahead in the coming weeks," Bhosale stated, advocating a buy-on-dip approach with stock-specific focus.
Key Stock Recommendations
Despite broader market consolidation, Bhosale highlighted two stocks showing strong technical setups with clear risk-reward parameters.
| Stock Recommendation | Entry Strategy | Target Price | Stop Loss | Technical Pattern |
|---|---|---|---|---|
| MFSL | Buy on breakout | ₹1,780 | ₹1,680 | Descending triangle breakout with strong volumes |
| Tata Consumer Products | Buy on dips | ₹1,210 | ₹1,164 | Multi-month breakout with bullish engulfing pattern |
MFSL Technical Analysis
Bhosale identified MFSL as his primary recommendation, citing a descending triangle price pattern breakout accompanied by strong trading volumes on the daily chart. The technical formation suggests the resumption of an uptrend, providing a favorable risk-reward setup for investors.
Tata Consumer Products Setup
The second recommendation focuses on Tata Consumer Products, which Bhosale noted is already trading in a multi-month price pattern breakout. The stock demonstrated resilience by recovering from a subdued morning start, forming a bullish engulfing pattern on strong support levels. The expert highlighted how every dip in the stock gets bought into, indicating strong underlying demand.
Defensive Sector Momentum
Bhosale also identified opportunities in defensive stocks, particularly highlighting BEL and Nestlé as stocks showing renewed strength after consolidation phases.
| Defensive Stock | Key Level | Strategy | Target/Resistance |
|---|---|---|---|
| BEL | ₹400 support | Buy on dips | ₹430 (recent highs) |
| Nestlé | ₹1,300 breakout | Hold positions | ₹1,400 (couple of weeks) |
BEL showed strong momentum after months of consolidation in November and December, with the stock recrossing key moving averages of 50 and 89 EMA. Nestlé demonstrated technical strength by crossing beyond its October swing high, forming a saucer pattern on the daily chart with ₹1,300 serving as strong support.
Investment Approach
The market expert's overall strategy emphasizes selective stock picking over broad market exposure during the current consolidation phase. While headline indices may pause after their recent surge, the technical expert advocates maintaining a constructive medium-term outlook through strategic buying on declines rather than momentum chasing. This approach allows investors to capitalize on individual stock opportunities while the broader market digests recent gains.
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