Stock picks of the day for September 18, 2018

Jindal Steel and Power Ltd: Buy| LTP: Rs 238 | Target: Rs. 257| Stop-loss Rs 225 | Return 8%

The stock has surpassed the crucial resistance of 200-DMA. The Nifty Metal index is looking strong on the charts and is likely to extend further.

A bullish inverse head and shoulder pattern breakout are seen on the daily charts. The stock price has broken out from the long-term downward sloping trend line on the weekly charts with healthy volumes. Oscillators have also turned bullish on weekly and monthly charts.

Tinplate Company of India Ltd: Buy| LTP: Rs 196.20 | Target Rs. 225| Stop-loss Rs 182 | Return 15%

The stock price has broken out from the long-term downward sloping trend line on the weekly charts with healthy volumes. The metal stocks have been outperforming for the last many days and strength is spilling over from large-cap Metal stocks to midcap metals stocks.

The stock is trading above its 20 and 50-DMA, indicating a bullish trend on a positional basis. Considering the technical evidence discussed above, we recommend buying the stock at CMP for the target of Rs 225 and keeping stop loss placed below Rs 182 on a closing basis.

OFSS: Buy| LTP: Rs 4503| Target Rs. 4950 | Stop-loss Rs 4250 | Return 10%

The stock price has registered a new all-time high with a significant jump in volumes. The stock price has surpassed triple top resistance placed at 4450 odd levels on the monthly charts.

The stock price reached above its 50, 100 and 200 DMA, indicating bullish trend reversal for medium to long term. Oscillators have also turned bullish on the long-term charts.

Considering the technical evidence discussed above, we recommend buying the stock at CMP for the target of 4950, keeping a stop loss at 4250 on a closing basis.