Stock Picks of the Day: 5 buy ideas that could return 10-22%
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Parag Milk Ltd: Buy| Target Rs 392| Stop Loss: Rs 329| Return 12%
On the weekly chart, the stock formed a ‘Hammer’ candlestick pattern which is an indication of a bullish reversal. Again, on the daily chart, the price has moved above its range-bound pattern which suggests growing optimism in the stock.
In addition, the price has so far sustained above the 20-days moving average (DMA). Traders can accumulate the stock in the range of Rs 345-350 for the target of Rs 392 and a stop loss below Rs 329.
Reliance Capital Ltd: Buy| Target Rs 471| Stop Loss: Rs 403| Return 11%
On the weekly chart, the stock formed a ‘Dragonfly Doji’ pattern which suggests that demand exists at lower levels. In addition, the price has moved above its 50-days moving average (DMA) and the momentum indicator, RSI (14) on the weekly frame is in a bullish crossover with a current reading at 45.74. The weekly MACD is also in a positive crossover.
Traders can accumulate the stock in the range of Rs 420-425 for the target of Rs 471 and a stop loss below Rs 403.
Titan Company Ltd: Buy| Target: Rs 1,010| Stop Loss: Rs 870| Return 10%
The price has moved above its recent consolidation pattern. On the lower end, the price has found support above 61.80% of the previous rise from Rs 752 to Rs 999.
In addition, on the weekly chart, the price has formed a ‘Hammer’ pattern which suggests growing optimism in the stock. The momentum oscillator, RSI (14) has come out from the oversold zone.
Traders can accumulate the stock in the range of Rs 910-916 for the target of Rs 1,010 with a stop loss below Rs 870.
Lupin Ltd: Buy| Target Rs 954| Stop Loss: Rs 824| Return 10%
The price has moved above the previous peak on the daily chart. The rise in price was backed by increased volume which suggests growing optimism.
In addition, the price has moved above the falling trend-line which indicates a reversal of the falling trend. Moreover, a momentum indicator, RSI (14) is in a bullish crossover and rising on the daily chart.
Traders can accumulate the stock in the range of Rs 860-868 for the target of Rs 954 and a stop loss below Rs 824.
Camlin Fine Science Ltd: Buy| Target Rs 112| Stop Loss: Rs 84| Return 22%
On the weekly chart, the stock has given a breakout from its range-bound pattern, which suggests growing optimism in the stock. On the other hand on the daily chart, a higher trough is observed which suggests waning bearishness.
Moreover, a momentum indicator, RSI (14) is in a bullish crossover and rising on the daily chart. Daily MACD has entered in the positive crossover.
Traders can accumulate the stock in the range of Rs 90-92 for the target of Rs 112 and a stop loss below Rs 84.