ICICIdirect recommends 'Accumulate' on Trent in the range of Rs 1,288-1,260 for a target of Rs 1,745 with a stop loss below Rs 1,095 on a closing basis against current market price of Rs 1,290 in its report.

Commenting on the investment rationale, the stock broker said, "The stock retraced its previous two month decline in just two weeks highlighting faster retracement of the most recent down leg, which is a sign of positive momentum returning in the stock leading it to break past the three year long consolidation. The current positive momentum is reflected by way of the bullish engulfing line pattern on the monthly time interval chart.

We believe the stock is set for its next up leg within the larger up trend. The target price of Rs 1,745 is projected based on the past consolidation range of the past three years offering a favorable reward-risk equation."

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