Stock picks of the day for September 26, 2018
Share
Subscribe
Bajaj Corp Limited: Buy| Target: Rs 485| Stop Loss: Rs 415| Return 10%
After giving a breakout above the ascending triangle pattern, the stock has surpassed its 200ays exponential moving average (EMA) on the daily charts and is seen consolidating in the range of Rs 440-465 this week.
The stock is maintaining well above its short and long-term moving averages along with multiple supports on the downside.
At the current scenario, the stock is building up from the rectangle pattern on the daily charts which is generally traded as a continuation pattern.
The positive divergence on the secondary indicators supports the next up move in prices moving forward. Traders can accumulate the stock in a range of Rs 440-450 for the upside target of Rs 485 levels with a stop loss below Rs 415.
Deepak Nitrite Limited: Buy| Target: Rs 315| Stop Loss: Rs 252| Return 14%
The stock has been maintaining its uptrend ever since it broke out above Rs 245 levels which we witnessed in the recent past. Last week, we witnessed a fresh breakout above the bullish flag pattern which took the stock from Rs 265 to Rs 300 levels.
In the current scenario, the rising volumes with the rise in price suggest that the momentum is likely to continue in the coming sessions as well. Traders can accumulate the stock in a range of Rs 275-280 for the upside target of Rs 315 and a stop loss below Rs 252.
United Breweries Limited: Buy| Target: Rs 1525| Stop Loss: Rs 1260| Return 12%
After a break out above Rs 1,200 levels, the stock tested Rs 1,500 levels in a short span of time. In the recent weeks due to profit booking the prices retraced back towards Rs 1,300 levels.
However, from the last two weeks, the stock has been fluctuating in a narrow range of Rs 1250-1350 and this week also we saw some fresh consolidation breakout in prices.
Additionally, the upside is getting well supported by positive divergence on the secondary indicators such as RSI and stochastic. Traders can accumulate the stock in a range of Rs 1360-1385 for the upside target of Rs 1525 levels and a stop loss below Rs 1260.