Stock picks of the day for October 31, 2018

Exide Industries Ltd: Buy | Close: Rs 261.45 | Target: Rs 290 | Stop Loss: Rs 240 | Return: 10.92%

After a decent correction from its 52-weeks highs, Exide has bounced back strongly from lower levels after taking support around 200-DMA.

The Daily Relative strength index (RSI) is trading at 51.78, showing positive momentum and MACD is trading above its signal line.

Based on the above observations, traders can buy the stock in the range of Rs 258-262 with a stop loss below Rs 240 (closing) for the target of Rs 289.

Aurobindo Pharma Ltd: Buy| Close: 770.50 | Target: Rs 850 | Stop loss: Rs 720 | Return: 10.32%

In daily scale, the stock has given a breakout from its flag pattern above Rs 770-772 levels on Monday with higher volumes.

In the daily scale, Relative strength index (RSI) showing sideways to positive momentum and (+) DI trading above (-) DI whereas Stochastic %K continuously trading above %D, which indicates limited downside for the stock.

Based on the above observations traders can buy the stock around current levels and add on dips around Rs 750-755 with a stop loss below Rs 720 (closing) for the target of Rs 850.

Bharat Forge Ltd: Buy| Close: 569.50 | Target: Rs 610 | Stop loss: Rs 540 | Return: 7.11%

After small consolidation, the stock has given a breakout above Rs 562-565 levels on Tuesday with moderate volumes.

The daily Relative strength index (RSI) showing positive momentum and MACD is trading below zero line but with positive crossover, which indicates the stock price to move higher in coming days.

Traders can buy the stock in the range of Rs 565-570 with a stop loss below Rs 540 (closing) for the target of Rs 610.