Stock picks of the day for November 26, 2018

Kajaria Ceramics: Buy| Target: Rs. 473| Stop-Loss: Rs 426 | Upside: 5%

After remaining under selling regime over the last six months form 52-weeks low of 310 levels, Kajaria Ceramics made a strong reversal trend in the recent period to trade in a positive trajectory.

The stock managed to decisively breakout from its crucial resistance of 100-days EMA placed at Rs 433 levels. It took a strong support at 325-315 levels to reverse a bullish trend with minor consolidation and witnessed a positive volume trajectory in the same period to augur positive trend.

The momentum indicator outlined a positive divergent in price with its RSI at 70 levels coupled with MACD trading above its Signal-Line. We have a buy recommendation for Kajaria Ceramics which is currently trading at Rs 449.80

Adani Ports & SEZ: Buy| Target: Rs 383| Stop Loss: Rs 351| Upside: 4%

Adani Port witnessed a strong upward momentum over one month after making a healthy consolidation from an upper price-band of 399-380 levels towards a low of 300 odd levels.

Post this lower base, the scrip continued to trade on a positive trajectory and this week it made an important breakout from its 200-days moving average placed at 364 levels on closing basis.

Along with strong volume growth, the scrip also formed a bullish candlestick pattern on its weekly price chart.

Further, the momentum indicator favored the current trend with RSI at 68 levels coupled with MACD trading above its Single-Line. We have a buy recommendation for Adani Port which is currently trading at Rs. 368.15

Shriram Transport Finance: Sell | Target: Rs. 1120 | Stop-Loss: Rs. 1201 | Downside: 3%

Shriram Transport Finance remained under selling regime throughout the week despite its attempt to reverse the trend upward but failed to sustain on a higher level.

The scrip continued to consolidate over six-months from 1540-1400 levels towards low of 1000 odd levels which remains a strong support area for the scrip, and breach below this level is expected to trigger another bear trend.

It currently trades below all the moving average levels on weekly basis except for its 200-days EMA placed 1104 which will remain crucial level on a medium-term basis.

The scrip formed a solid bearish candlestick pattern on both daily and weekly price chart, and therefore indicating a sustained pressure on scrip which will keep selling regime intact.