Stock Picks Podcast for April 27, 2018: top 3 stocks which could give up to 10% return

The Nifty50 which broke the lower top lower bottom structure in the previous week was seen consolidating so far in this week. The Nifty was stuck in a 100-point trading band with 10650 being the higher end while 10,500 was the lower end of the range.

Both the benchmarks failed to make any substantial progress in the last five days. Going forward, as mentioned in the previous week's edition, the scenario has not changed much as a fresh rally is likely to be triggered only if the 10650 resistance zone is broken convincingly.

While a crack below 10500 would mean fresh downside. Bank Nifty too struggled to surpass its 100-DEMA of 25100 while the 200-DEMA of 24550 would act as a strong support zone for the Bank Nifty.

Defensive stocks are making a comeback as the Nifty FMCG index has broken out from a ‘Flag Pattern’ on the daily chart. The index heavyweights such as ITC and Hindustan Unilever would be in demand and can be considered as safe bets in the short term.