Stock picks of the day for November 14, 2018

Titan Company: BUY | Target: Rs 968 | Stop loss: Rs 840 | Upside 8% 

After falling well below its 200 days exponential moving average on daily interval stock took a U turn from lower levels and once again surpassed its short and long term moving averages.

This week we have observed fresh breakout into the prices above 880 levels along with large volumes which suggests that bulls are once again active in this scrip.

From technical front stock is also on verge of breakout above the falling trend line on weekly charts. So, traders can accumulate the stock in range of Rs 890-898 for the upside target of Rs 968 levels with stop loss below Rs 840.

Apollo Tyres: Buy | Target: Rs 241 | Stop loss: Rs 206 | Upside: 9%

Stock made a double bottom pattern on daily charts around Rs 193 levels and recovered sharply thereon towards 220 levels. However from last two weeks prices are maintaining well above the 200 DEMA on weekly interval along with consolidation in range of Rs 210-225.

This week stock has witnessed hefty volumes along with rise in price and is on verge of breakout above the rectangle pattern visible on daily charts. So, traders can accumulate the stock in range of Rs 220-223 for the upside target of Rs 241 levels with stop loss below Rs 206.

Redington (India): Buy | Target: Rs 102 | Stop loss: Rs 85 | Upside: 12%

Stock has been maintaining its downtrend since the beginning of the year and fell below its 200 days exponential moving average on weekly charts. However, sharp recovery has been seen into the prices after stock made double bottom pattern on weekly interval around Rs 80 levels.

At current juncture stock has made inverted head and shoulder pattern on daily charts and is on verge of breakout above the neckline of the pattern. So, traders can accumulate the stock in range of Rs 91-93 for the upside target of Rs 102 levels with stop loss below Rs 85.