Stock Picks Podcast on March 27, 2018: Top 3 stocks could give up to 10% return

Moneycontrol News

Bajaj Electricals Ltd: BUY| Target Rs. 618 | Stop-loss Rs 530 | Return 10%

The stock has been an outperformer in the recent bearish trend of the market. It is one of the stocks which have been hovering around its all-time highs when there was fierce selling in midcaps.

The stock has recently witnessed a healthy correction of 19 percent from its all-time high of 634. However, the overall trend for the stock is bullish with higher tops and higher bottoms on the daily and weekly charts.

The short-term moving averages are trading above long-term moving averages. We recommend buying Bajaj Electric for the upside target of 618, keeping a stop loss at 530.

Manappuram Finance Ltd: BUY| Target Rs. 116 | Stop-loss Rs 105| Return 7%

The stock has been hovering around its 200-DMA support, which is currently placed around Rs104 levels. The stock has recently surpassed the crucial resistance level of 50-days EMA, placed around Rs108 levels.

For the last two days, volumes remained high along with the price rise. Oscillators like RSI and MACD have been showing strength on the daily as well as weekly charts.

The prospects of the stock look good if somebody is planning to go long term. The short-term moving averages have been trading above long-term moving averages. We recommend buying Manappuram Finance for the upside target of Rs116 and keeping a stop loss below Rs105.

TV18 Broadcast Ltd: BUY| Target Rs. 72 | Stop-loss Rs 65 | Return 7%

The stock has been resilient and is hovering around its 52-week high of 69.45. On Monday, the stock resumed its uptrend after small correction, witnessed during last week.

The price rose more than 6 percent, with a jump in volumes. It found support at its 20-days EMA and then reversed. Media sector has been performing well for the last couple of weeks and the same is likely to continue.

The primary trend of the stock has been bullish with higher tops and higher bottoms formations on the weekly charts. We recommend buying TV18 for the upside target of 72, and a stop loss placed below Rs65.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Disclaimer: The author is Technical Analyst, PCG Desk, HDFC Securities. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.