Stock picks of the day for November 29, 2018

Mphasis: Buy| CMP: Rs.955.50 | Target Rs 1044| Stop Loss: Rs.914| Return 9%

The stock, after a downward consolidation, has moved up with a strong momentum. The sudden rise in price was backed by a spike in volumes.

A positive divergence is visible on the daily momentum indicator RSI (14) which suggests that there could be a positive shift in the price momentum.

In addition, a hammer kind of candle is visible on the weekly chart. Traders can accumulate the stock in the range of 950–960 for the target of 1044 and a stop loss below 914.

HDFC Bank: Sell| CMP: Rs 2089.25 | Target: Rs 1980 | Stop Loss: Rs.2141| Return 5.20%

The stock has recently moved up from its recent low of 1885 to 2089 which 61.80% of the previous fall from 2220 to 1885.

On the other hand, a bearish Anti Cypher pattern has formed on the daily chart of HDFC Bank which may initiate a very short-term pullback in the stock.

Traders can sell the stock in the range of 2080-2090 for the target of 1980 and a stop loss above 2141.

Zee Entertainment Ltd: Buy| CMP: Rs. 477.45| Target: Rs 521| Stop Loss: Rs.458| Return 9%

The stock has given a consolidation breakout on the weekly chart which suggests growing optimism in the stock. In addition, ZEEL has moved above 50-EMA on the daily chart.

Also, on the daily chart, the price has given a symmetrical triangle breakout. Traders can accumulate the stock in the range of 475-480 for the target of 521 with a stop loss below 458.