Stock picks of the day for January 04, 2019
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Ujjivan Financial Services: Buy| Target: Rs 305| Stop Loss: Rs 275| Upside 7%
The stock has shown a lot of resilience despite the sell-off witnessed in the overall markets. The stock has in fact broken out from the consolation base and the price outburst has been accompanied by a smart uptick in traded volumes.
It has also held convincingly above the 100-DEMA. Every long position should be protected with a stop loss below Rs 275.
Indiabulls Housing Finance Jan Futs: Sell| Target: Rs 770| Stop Loss: Rs 833| Downside 5%
The stock has been facing multiple hurdles on the daily chart. In fact, it has broken down from a rising wedge pattern on the daily chart.
The stock has also broken below its 50-DEMA support zone which further accentuates our short-term bearish stance on the stock.
Marico: Buy| Target: Rs 400| Stop Loss: Rs 367| Upside 6%
The stock has been consolidating for the past two weeks and has finally broken out from a trading range on the daily chart. The breakout has been accompanied with a smart uptick in traded volumes.
The stock has maintained its higher top higher bottom structure which is a positive development. We expect the stock to make an attempt to move higher towards Rs 400 levels in the near-term.