Stock Picks Podcast for May 7, 2018: 3 stocks could give up to 10% return

Crompton Greaves Consumer Electricals Ltd: Buy | Target: Rs 270 | Stop loss: Rs 230 | Return 10%

Crompton Greaves is trending higher on its weekly price chart post its correction during the previous session and took a strong short-term support at Rs 220 levels.

Despite a weak market breadth, the scrip managed to decisively breakout from its short-term crucial level placed Rs 232 coupled with strong volume growth above its daily average levels.

On the weekly price chart, the scrip registered a strong bullish candlestick pattern coupled with the solid bullish pattern on last closing session, indicating a positive signal.

Despite a neutral divergence on RSI trend at 53 levels, the MACD indicated a positive crossover coming in next few sessions. The scrip is currently holding resistance level at 283 on its pivot points and support level at Rs 219. We have a BUY recommendation for Crompton Greaves which is currently trading at Rs 245.10

Orient Cement Ltd: Recommendation: Sell | Target: Rs 129 | Stop loss: Rs 143 | Return 6%

Orient Cement witnessed a sustained pressure at a higher level around Rs 148 levels coupled with prolonging fall on its monthly price chart despite attempting to rebound.

After registering a 52-week high at Rs 183 level during the past month, a weak vindication dragged the scrip below crucial levels. Last week, it slipped from 200-days EMA levels placed around Rs 141 levels indicating a negative momentum.

The scrip formed a strong bearish candlestick pattern on its weekly price chart as price continued to trade below crucial levels.

Further, the secondary momentum indicator continued to indicate negative signal with RSI at 39 levels coupled with weak support from MACD indicator.

The scrip is facing a resistance at 157 levels and strong support from 52-weeks low at 128 levels. We have a SELL recommendation for Orient Cement which is currently trading at Rs 137.90

Just Dial Ltd: Recommendation: Buy | Target: Rs 458 | Stop loss: Rs 420 | Return 5%

After making a sharp correction from the upper band of Rs 607 levels on its daily price the, Just Dial witnessed a strong rebound in last week’s trading session with a positive momentum.

The scrip witnessed a relative breakout from its short-term moving average in the last session coupled with strong daily-volume breakouts which signal a positive trend buildup.

After closing with about 14 percent gain on an intraday basis, the scrip made a bullish reversal candlestick pattern on its daily price chart.

Further, a weekly RSI at 47 shifted upward from the previous level indicating a buying regime coupled with a positive turnover on MACD.

The scrip is facing a resistance at Rs 483 levels and support level at 394 on pivot points. We have a BUY recommendation for Just Dial which is currently trading at Rs 435.75.