Stock Picks of the Day: 2 buys, 1 sell that could return 5-13% in 1 month

Indo Count Industries Ltd: Buy| Target: Rs. 82 | Stop-loss: Rs. 65 | Return 13%

Indo Count Industries traded in a positive trajectory on its weekly price chart post its correction from the higher band of Rs134-99 levels towards 52-week low levels. It took a strong support at 60 odd levels to reverse the trend.

The scrip made a critical breakout from its 20-days EMA at 68 levels supported by strong volume trend on weekly basis, indicating a buying trajectory.

On the weekly price chart, the scrip registered a long bullish candlestick pattern indicating a sustainable rally post breaching crucial levels on the upside.

Further, the weekly RSI placed at 55 signaled a buying regime at a current level along with positive cues from MACD suggesting an upward shift.

The scrip is currently holding a long resistance at 98 and support level at 60. We have a buy recommendation for Indo Count Industries which is currently trading at Rs 72.55.

Berger Paints India Ltd: Buy | Target: Rs. 314 | Stop-loss: Rs. 278 | Return 6%

Berger Paints maintained an upward trajectory on the weekly basis despite trading in a sideways direction on its long-term price chart and continued to hold a crucial support from 260-244 levels.

After the recent consolidation phase from Rs293 levels towards higher-low of Rs274 levels, the scrip made a reversal trend on the weekly price to breach upward from its critical resistance.

The positive breakout on the weekly basis aided the scrip to form a bullish candlestick pattern indicating a positive sentiment at the current level.

The weekly RSI trend registered an upward momentum placed at 63 suggesting a buying regime along with MACD trading on a bullish momentum.

The scrip has a support placed at Rs270 levels and resistance at Rs325. We have a buy recommendation for Berger Paints which is currently trading at Rs. 296.55

Avanti Feeds Ltd: Sell | Target: Rs. 452 | Stop-loss: Rs. 495 | Return 5%

Avanti Feeds witnessed a sharp correction on the weekly price chart despite its attempt to reverse the trend but failed to vindicate the momentum during a consecutive session to slip from 100-days EMA levels placed at 554.

Further, it witnessed a weak volume support on the weekly basis indicating a sustained pressure on short-term basis. The scrip formed a solid bearish candlestick pattern on its weekly price chart after breaching below important level indicating a sustained pressure.

Further, the secondary momentum trend continued to indicate negative signal with RSI slipping below at 32 coupled with the bearish outlook from MACD trend.

The scrip is facing a resistance at Rs542 levels and crucial support from 200-days EMA at Rs407 levels. We have a sell recommendation for Avanti Feeds which is currently trading at Rs. 475.40 .