Stock picks of the day for December 13, 2018

TVS Motors Ltd: Buy| LTP: Rs.570.60 | Target Rs 620| Stop Loss Rs.547| Return 8%

On the daily chart, the stock has given a Symmetrical Triangle pattern which suggests a sudden spike in the optimism in the counter. In addition, the stock has moved above its previous swing high of smaller degree on the daily chart.

Moreover, the price has moved above its 61.80% Fibonacci retracement level of the previous fall from 604.75 to 478.70.

The daily momentum indicator is in a bullish crossover with a current reading of 59.49. Traders can accumulate the stock in the range of 565–575 for the target of 620 and a stop loss below 547.

NTPC: Buy| LTP: Rs 140.70 | Target: Rs 150.50 | Stop Loss: Rs 136| Return 7%

On the daily chart, the stock has given a breakout above the falling trend line which suggests a reversal in the trend.

The daily strength indicator is seen coming out from the oversold zone with a bullish crossover. Also, the daily RSI is in a bullish divergence with the price which suggests momentum is likely to change to positive.

Traders can accumulate the stock in the range of 245-250 for the target of 270 with a stop loss below 237.

GE T&D Ltd: Buy| LTP: Rs. 247.35| Target Rs 270| Stop Loss Rs.237| Return 8%

The stock on the daily chart has signaled a trend reversal through a falling wedge breakout. Also, in its recent movement, the stock has surpassed its 50-DMA which is currently placed at 242.11.

The daily RSI (14) is in bullish divergence which suggests the momentum is likely to change to positive in the near to short term. Traders can accumulate the stock in the range of 245-250 for the target of 270 and a stop loss below 237.