Stock picks of the day for December 18, 2018
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Gail India Ltd: Buy| LTP: Rs 353| Target: Rs 380 | Stop-Loss: Rs 338 | Return 8%
After forming multiple bottoms around Rs 330 levels, the stock price reversed northward to close above its 5, 20 and 200-days Simple moving averages.
The stock price has also given bullish downward sloping trendline breakout, adjoining the highs of 06th November and 04th December on the daily chart by closing above the 351 levels.
Oscillators and momentum indicators like RSI and MACD is showing strength on the daily charts. OIL/Gas stocks are showing strength since the last few days and are looking good on the charts. Therefore, we recommend buying GAIL for the target of 380 and keeping a stop loss at 338.
ICICI Bank Ltd: Buy| LTP: Rs 358| Target: Rs 382 | Stop-Loss: Rs 345 | Return 7%
ICICI Bank has given a downward sloping trend line breakout, adjoining the highs of 16-Nov and 29-Nov by closing above the 355 odd levels. The primary trend of the stock is bullish where the stock price is trading above its 5, 20 and 200 day SMA.
ICICI Bank is one of the outperformers amongst the large-cap stocks, where it gained by 14% till date in the CY18 as against the 3% rise in the Nifty Index. Oscillators are showing strength in the stock.
The stock price is trading near at all-time highs and the technical indicators are indicating that it is likely to remain an outperformer for the coming days as well. Therefore, we recommend buying ICICI Bank for the target of 382 and keeping a stop loss below Rs 345.
UBL: Buy| LTP: Rs 1303| Target: Rs 1390 | Stop-Loss: Rs 1250 | Return 7%
UBL reversed northward after taking support near its 200-day SMA last week. It closed above its 5 and 20-day Simple moving averages. The stock price has also given a bullish downward sloping trendline breakout on the daily chart by closing above the 1282 levels.
Oscillators and momentum indicators like RSI and MACD are showing strength on the daily charts. Therefore, we recommend buying UBL for the target of 1390 and keeping a stop loss below Rs 1,250