Stock picks of the day for December 10, 2018
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Dabur: LTP: Rs 411| Stop Loss: Rs 395| Target: Rs 463| Return 12%
Dabur formed an Impulse on the upside from the level of Rs 362 till Rs 426 and has retraced the same till 38.2% retracement mark which is also a key Fibonacci level, the stock has started rallying again. In the last session, the stock has crossed a falling trendline on the hourly chart.
Axis Bank: Sell| LTP: Rs 603| Stop Loss: Rs 630| Target: Rs 535| Return 11%
Axis Bank has broken down from an Ending Diagonal pattern recently. The pattern marks the end of a short-term pullback and the stock has started a fresh move down. The daily momentum indicator has been showing negative divergence whereas the weekly momentum indicator has given a fresh sell signal
Ujjivan: Sell| LTP: Rs 215.85| Stop Loss: Rs 227| Target: Rs 182| Return 15%
After a short-term pullback, the stock has formed a distribution near the junction of 40 daily exponential moving average & the daily upper Bollinger Band.
The two in combination act as key hurdle zone. From there the stock seems to have resumed the medium-term downtrend.