Stock picks of the day for November 14, 2018

Hexaware Technologies: Buy | CMP: Rs 318.15 | Target: Rs 363 | Stop loss Rs 303 | Return 14% 

The stock has been consolidating after a sharp correction which means the stock is making base for the next sharp movement. On the other hand a Tweezers Bottom is visible at Rs 308 on the weekly chart of the stock which suggests a rally as long as the recent bottom remains intact.

In addition, a bullish divergence visible on the daily RSI (14) which suggests that the momentum is likely to turn positive in the near term.

Traders can accumulate the stock in the range of Rs 315–325 for the target of Rs 363 with a stop loss below Rs 303.

United Spirits: Buy | CMP: Rs 647.95 | Target Rs 700 | Stop loss: Rs 619 | Return 8%

The stock has given a falling channel breakout on the weekly chart which suggests that the stock may move northwards in the short term. In addition, the stock has moved up above its recent consolidation pattern on the daily chart which suggests growing optimism.

Monthly RSI (14) has entered in a bullish crossover after a long time. All these set ups suggest price appreciation in the coming days.

Traders can accumulate the stock in the range of Rs 645-655 for the target of Rs 700 with a stop loss below Rs 619.

Marico: Buy | CMP: Rs 347.80 | Target: Rs 379 | Stop loss: Rs 329 | Return 9%

The stock after few days’ consolidation has given a highest closing. On a line chart the stock price has moved above its previous inflection point of smaller degree.

On the weekly chart, the stock seen to have moved up as it found support around the lower band of the rising channel. In addition, weekly RSI (14) is in bullish crossover and rising.