Stock Picks of the Day on July 25, 2018

Exide Industries Limited: Buy| Target: Rs 303| Stop Loss: Rs 252| Return 12%

The stock has been maintaining its uptrend ever since breakout above Rs 240 levels has been seen in the prices in the recent past.

However, after eight weeks of prolong consolidation in the range of Rs 245-270, the stock has once again given a fresh breakout last week along with marginally higher volumes.

Additionally, the fresh breakout has also been observed above the symmetrical triangle pattern which signifies that bulls are once again active in the scrip. Traders can accumulate the stock in a range of Rs 270-273 for the target of Rs 303 and a stop loss below Rs 252.

Apollo Tyres Ltd: Buy| Target: Rs 255| Stop Loss: Rs 300| Return 11%

The stock has been trading in a downward sloping channel on the daily charts and slipped below its 200-day exponential moving average in the recent past, but V-shape recovery from lower levels has once again taken the stock above its falling trend line.

It surpassed its short and long-term moving averages as well. Additionally, the stock has also witnessed a breakout above the inverted head and shoulder pattern on the daily charts.

Traders can accumulate the stock in the range of Rs 270-275 for the upside target of Rs 300 and a stop loss below Rs 255.

ITC Limited: Buy| Target: Rs 312| Stop Loss: Rs 267| Return 10%

After giving a breakout above the falling wedge pattern, the stock witnessed sharp up move in the recent past to test Rs 287 levels in Tuesday’s session. Additionally, the breakout above the inverted head and shoulder pattern has also been observed in the stock which will support for next up move in prices.

On the weekly charts as well, the stock has given a breakout above the key resistance level after prolonged consolidation in a broader range of 250-280.

All the factors are supporting for the next up move in prices. Traders can accumulate the stock in a range of Rs 283-286 for the upside target of Rs 312 levels and a stop loss below Rs 267.