Stock picks of the day for November 2, 2018

Axis Bank Ltd: Buy| Target: Rs 652| Stop Loss: Rs 585| Returns 7%

The stock has broken out from the falling channel pattern on the daily charts. The breakout has been accompanied with a smart uptick in traded volumes.

Axis Bank has also surpassed and sustained above its long-term 200-DEMA. In addition, positive crossovers on the relative strength index (RSI) further indicates that stock has the potential to move higher.

Berger Paints Ltd: Buy| Target: Rs 314| Stop Loss: Rs 284| Returns 7%

The stock has been consolidating for the past two weeks and is finally on the verge of breaking out from the ‘Inverse Head and Shoulder’ pattern on the smaller time frame chart.

Berger Paints has also surpassed its short as well as long-term moving averages. Rising volumes coupled with positive crossovers on the other oscillators prompts for further upside.

BPCL: Target: Rs 308| Stop Loss: Rs 275| Returns 8%

The stock has broken out from a Symmetrical Triangle pattern on the daily chart. It has also simultaneously broken out from a falling channel pattern on the smaller time frame chart.

Further, a break above Rs 286 would lead to a double bottom pattern as well which would further accentuate our bullish stance on BPCL.