Stock Picks of the Day on July 31, 2018
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Godrej Industries Ltd: Buy| LTP: Rs 642.50| Target: Rs.715 | Stop-Loss: Rs 580 | Return 11%
The stock price has broken out from the downward sloping channel on the weekly chart. It is placed above all the important moving average parameters, indicating a bullish trend.
Higher Tops and Higher bottoms formation on the weekly charts which is a bullish sign. The stock price has been taking support on its 50-week exponential moving average (EMA).
Oscillators and indicators like RSI, ADX, and MACD have been trading bullish on the short-term charts. Considering the technical evidence discussed above, we recommend buying the stock at CMP for the target of Rs 715, keeping a stop loss at Rs 580 on a closing basis with 1-3 month horizon.
Sterlite Technologies Ltd: Buy| LTP: Rs 342 | Target: Rs.400 | Stop-Loss: Rs 296 | Return 17%
The stock has broken out from the falling wedge on the weekly chart. Volumes have gone up along with the price rise in the last two weeks.
The stock price has been taking support on its 55-week exponential moving average. The stock price is placed above all important moving average parameters, indicating a bullish trend.
Oscillators like RSI and ADX have been trading bullish on the short-term charts. Considering the technical evidence discussed above, we recommend buying the stock at CMP for the targets of Rs 400, keeping a stop loss at Rs 296 with 1-3 month horizon.
Endurance Technologies Ltd: Buy| LTP: Rs 1,334| Target: Rs.1,500 | Stop-Loss: Rs 1,190 | Return 12%
The stock price has broken out from the Symmetrical triangle on the daily chart. Volumes have gone up along with the price rise in last week.
The stock price has been holding above its 50 and 200 DMA. The strong bottom formation has been seen at 1200 levels. Oscillators like RSI, MACD, and ADX have turned bullish on the short-term charts.
Considering the technical evidence discussed above, we recommend buying the stock at CMP for the target of Rs 1,500, keeping a stop loss at Rs 1,190 on a closing basis with 1-3 month horizon.