Stock Picks of the Day on August 10, 2018

Kansai Nerolac: Buy| Target: Rs 561| Stop Loss: Rs 492| Returns 9% 

A three-month consolidation phase seems to have finally come to an end as the stock has finally broken out from an inverse head and shoulder pattern on the daily chart.

The price outburst has been accompanied with a smart uptick in traded volumes. The stock has also convincingly managed to close above its short as well as long-term moving averages.

We expect this momentum to extend further and see the stock to rally towards its potential target of Rs 561 in medium-term.

ACC: Buy| Target: Rs 1709| Stop Loss: Rs 1508| Returns 8.5%

After consolidating for the past two weeks, the stock has broken out from a Flag pattern on the daily chart. The current upswing has also aided the stock to surpass and convincingly close above its long-term 200-DEMA which is a positive development.

The price outburst has also been accompanied with a smart uptick in traded volumes. Every long position should be protected with a stop loss around Rs 1508 on the weekly closing basis.

Infibeam Incorporation: Buy| Target: Rs 211| Stop Loss: Rs 181| Returns 10.2%

The stock has been consolidating in a trading band since November 2017 and has finally broken out from a continuation pattern on the weekly chart.

Rising volumes, relative strength above the 60 mark and positive crossovers observed in other oscillators further accentuate our bullish stance on the stock. We expect, Infibeam to rally towards its potential target of Rs 211 in the medium-term.