Stock Picks of the Day on August 01, 2018

Puravankara Ltd: Buy| Close: Rs 105.75 | Target: Rs 122 | Stop Loss: Rs 95 | Return: 15.37%

The stock has given a breakout from symmetrical triangle pattern around Rs 102-103 on the daily chart with higher volumes.

A daily momentum indicator Relative Strength index (RSI) reading at 51.35 level, showing positive momentum and MACD trading below zero line with positive crossover whereas OBV — On Balance Volume is showing an upward momentum and (+) DI just crossover (-) DI, which indicates that the stock has the potential to move higher.

Traders can buy the stock in the range of Rs 104-106 with a stop loss below Rs 95 (closing) for a target of Rs 122

Mahindra & Mahindra Ltd: Buy| Close: Rs 935.95 | Target: Rs 974 | Stop Loss: Rs 910 | Return: 4.07%

On the daily chart, the stock has been trading in an ascending triangle formation where it has recently taken a support of its lower trend line and bounce with moderate volumes.

Moreover, the stock has been continuously trading above its 21-days moving average which is placed at 915.70 levels which shows a positive trend of the stock.

A daily momentum indicator Relative Strength index (RSI) showing positive momentum and MACD trading above zero line with positive crossover.

Based on the above technical structure, we are expecting an upside movement in the counter in few trading sessions so, traders can buy the stock in the range of Rs 933-936 with a stop loss below Rs 910 (closing) for a target of Rs 974

Container Corporation of India Ltd: Buy| Close: Rs 669.30 | Target: Rs 712 | Stop Loss: Rs 640 | Return: 7.58%

The stock has given a break-out above its downward trend line around 665-666 levels on Tuesday with moderate volumes on the daily chart which suggest bullishness in the stock.

A daily momentum indicator Relative Strength index (RSI) reading at 57.97 level, showing positive momentum and MACD trading around zero line with positive crossover whereas (+) DI trading above the (-) DI and OBV — On Balance Volume is showing an upward momentum, which indicates limited downside for the stock.

Traders can buy the stock in the range of Rs 667-670 with a stop loss below Rs 640 (closing) for a target of Rs 720.