Stock Picks of the Day: These 3 trading ideas could offer up to 5-10%
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Kaveri Seed Ltd: Buy| LTP: Rs 583.75 | Target: Rs 625| Stop loss: Rs 565| Return 7%
The stock has given a breakout after a long consolidation which started in early 2018. A close above resistance zone of previous peaks and higher volume participation is likely to keep the bullish momentum. The upward target for the stock is placed at Rs 625 - 630.
Lupin Ltd: Sell| LTP: Rs 901.10| Target: Rs 855| Stop loss: Rs 925| Return 5%
The stock has seen a short covering move in the last couple of days while the overall trend for this pharma sector remains bearish. The short-term and momentum is showing divergence which may not augur well for the bulls.
A reversal pattern is also seen on the daily chart indicating a resumption in the downside momentum which may drag the stock towards Rs 855.
Motherson Sumi Ltd: Buy| LTP: Rs 310.60 |Target: Rs 340| Stop loss: Rs 295| Return 10%
The stock has made a bullish engulfing pattern on the daily chart. Further, this support marks resulted in a triple bottom formation making it attractive at present levels. A bullish formation at such support gives an opportunity for investors to ride the bullish trend for a target of Rs 340.
Disclaimer: The author is CEO, Epic Research. 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.