Stock picks of the day for December 04, 2018

SBI: Buy| LTP: Rs 287| Target: Rs 308 | Stop-Loss: Rs 273| Return 7%

The stock price of SBI has been consolidating for the last one month. The primary trend of the stock is bullish with higher tops and higher bottoms.

The short-term moving averages have been holding above the long-term moving averages. PSU Banking stocks have been witnessing a long build-up in the derivative segment.

Considering the technical evidence discussed above, we recommend buying the stock at the current market price for the target of Rs 308 and keeping a stop loss placed at Rs 273 on a closing basis.

Hero MotoCorp Ltd: Buy| LTP: Rs 3040| Target: Rs 3250| Stop-Loss: Rs 2910| Return 7%

The stock has fallen 26 percent from its all-time high of 4092 which was registered in September of 2017. The stock price has nicely recovered from its recent low of 2648, and has given a bullish breakout from the inverse head and shoulder on the daily charts.

The stock is maintaining higher tops and higher bottoms formations on the daily charts. Moving average and Oscillator setup seems bullish on the charts.

Considering the technical evidence discussed above, we recommend buying the stock at CMP for the target of 3250, and keeping a stop loss placed at Rs 2910 on a closing basis.

Kotak Mahindra Bank: Buy| LTP: Rs 1226| Target: Rs 1325| Stop-Loss: Rs 1160 |Return 8%

The stock price has recently surpassed the crucial resistance level of 50, 100 and 200-DMA. The stock has been making higher tops and higher bottom formation on the weekly charts.

The primary trend of the stock is bullish. Oscillators and Indicators have been holding strong. The private banking space has been performing well and BankNifty also holds its uptrend.

Considering the technical evidence discussed above, we recommend buying the stock at CMP for the target of 1325, and keeping a stop loss at 1160 on a closing basis.