Stock picks of the day for September 21, 2018

Tech Mahindra Ltd: Buy| Target: Rs 832| Stop Loss: Rs 739| Returns 8%

The stock has broken out from its multi-year rounding bottom pattern seen on the weekly chart. Tech Mahindra has also sustained above the breakout zone for the third consecutive week which is a positive sign.

Other oscillators also indicate that the current momentum is likely to get extended further. We expect the stock to rally towards its potential target of Rs 832 in the medium-term.

TVS Motor Company Ltd: Buy| Target: Rs 649| Stop Loss: Rs 575| Returns 8.2%

The stock has been defying all the selling pressure in the recent past, in fact, it has been moving higher. In addition, it has also broken out from the consolidation phase and surpassed its long-term 200-DEMA which further accentuates our bullish stance on the stock.

JSW Steel Ltd: Buy| Target: Rs 442| Stop Loss: Rs 404.5| Returns 6%

The stock is in a solid uptrend and has also been maintaining its higher top higher bottom structure. In fact, the upswing is so strong that the stock doesn’t even breach below its short-term 5-DEMA which indicates every decline is being used as a buying opportunity.

We expect, JSW Steel to move higher towards its potential target of Rs442 in the medium term