Stock picks of the day for October 17, 2018
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Torrent Power: Buy| LTP: Rs 245.10|Target: Rs 250| Stop Loss: Rs 240| Return 2%
The stock outperformed benchmark indices with good volumes and closed near its intraday high on Tuesday. The momentum oscillator CCI has also given a closing above 100 on the daily chart and it also gave closing above the 200 EMA on the daily chart.
We recommend buying the stock at the current level for an initial target of Rs 250 with the stop loss placed below Rs 240.
Tata Elxsi: LTP: Buy | Rs 1039| Target: Rs 1060| Stop Loss: Rs 1035| Return 2%
The stock outperformed well with average volumes and closed near its intraday high. The RSI has also shown the reversal from the oversold zone on the daily chart. We recommend buying from the current level for the target of Rs 1060 and a stop loss below Rs 1035.
Equitas Holdings Ltd: Buy| LTP: Rs 131.40| Target: Rs 138| Stop Loss: Rs 128| Return 5%
The stock opened gap-up on Tuesday and maintained its momentum throughout the day. The stock is trading well above its 200-EMA on the hourly chart and closed above it. We recommend buying at the current level for an initial target of 138 and a stop loss below Rs 128.