Stock Picks of the Day on August 14, 2018
Infosys: Buy| LTP: Rs 1409 | Target: Rs. 1495 | Stop-Loss: Rs 1347 | Return 6%
The stock has broken out from the price consolidation which held in last 1 month. The stock has registered new all-time high with healthy volumes. Recent depreciation in rupee against the dollar is going to impact positively to the entire IT sector.
The rupee has reached the all-time low level, near to 70. Nifty IT Index has also broken out from the last 1-month price consolidation. Being large cap IT Company, Infosys is likely to continue its upwards journey with new milestones.
Considering the technical evidence discussed above, we recommend buying the stock at CMP for the target of Rs 1495, keeping a stop loss at 1347 on a closing basis.
Everest Industries: Buy| LTP: Rs 552.5 | Target: Rs. 630| Stop-Loss: Rs 510| Return 14%
The stock has broken out from the downward sloping channel on the weekly chart. Volumes have gone up along with the price rise in the last two weeks.
Higher tops and higher bottoms on the weekly charts indicate positional uptrend. 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 630, keeping a stop loss at 510 on a closing basis.
Crompton Consumers: Buy| LTP: Rs 267 | Target Rs.302 | Stop-Loss: Rs 250 | Return 13%
The stock price has broken out Breakout from price consolidation pattern holding for last 6 months between 215 and 250. Volumes have gone up along with the price rise in last one month.
Multiple bottoms formed at 220 odd levels and stock reversed northward thereafter. The stock price has reached above 20, 50 and 200 DMA. Indicators like MACD and ADX have turned bullish on the weekly charts.
Considering the technical evidence discussed above, we recommend buying the stock at CMP for the target of 302, keeping a stop loss at 250 on a closing basis.