Stock Picks of the Day: Top 3 buy positional ideas which could give 8-9% return in 1 month

Glenmark Pharma: Buy| Target: Rs 652| Stop Loss: Rs 579| Returns 8.5%

Our weekly chart analysis indicates that Glenmark has broken out from the falling channel pattern. The stock has also managed to surpass its long-term 200-DEMA on the daily chart and has also managed to close above the same.

In addition, other momentum oscillators also indicate that the current momentum is likely to extend further. We expect the stock to move higher and every long position should be protected with a stop loss below Rs 579 on a closing basis.

M&M Finance Ltd: Buy| Target Rs 535| Stop Loss: Rs 473| Returns 9%

The stock has been in a declining phase for the past eight weeks and has finally broken out from a Symmetrical Triangle pattern on the daily chart.

The breakout has also been accompanied with a smart uptick in traded volumes. Relative strength index (RSI) indicates a positive crossover which further accentuates our bullish stance on the stock.

We expect, M&M Finance to move higher towards its potential target of Rs 535 which translates into a 9 percent returns.

Bata India Ltd: Buy| Target: Rs 909| Stop Loss: Rs 799| Returns 9%

The stock has been maintaining its higher top higher bottom structure. It has been consolidating for the past seven months and has finally broken out from a Cup and Handle pattern on the weekly chart.

The breakout has also been accompanied by credible volumes expansion. We expect Bata to extend the momentum and make an attempt to move towards its potential target of Rs 909 in the medium term.