Stock picks of the day for February 6, 2019

Kotak Mahindra Bank Limited: Buy| LTP: Rs 1277| Target: Rs 1360| Stop-Loss: Rs 1220| Return 6.5%

Kotak Mahindra Bank has been consolidating within 1200-1350 for the last two months after witnessing a sharp rebound from the support zone of 1000 levels.

It is holding strong above the support zone of moving averages ribbon on the daily chart and looks set for a fresh surge. Traders shouldn’t miss this opportunity and accumulate within 1260-1270 range.

Pidilite Industries Limited: Buy| LTP: Rs 1125| Target: Rs 1190| Stop-Loss: Rs 1085| Return 5.7%

After making a new record high, Pidilite Industries witnessed a marginal correction and consolidated around the support zone of 100-EMA on the daily chart.

It has spent over five weeks around that zone and formed a fresh buying pivot. The overall chart formation is also in sync. We advise creating fresh longs in the given range 1110-1120.

Bajaj Auto Limited: Sell Feb Futures| LTP: Rs 2711| Target: Rs 2540| Stop-Loss: 2750|Downside 6%

Most of the auto stocks are currently struggling and Bajaj Auto is no different. It declined sharply after the consolidation breakdown but oversold positions have triggered marginal bounce of late.

We feel it is a temporary rebound and would fizzle out soon. Traders are thus advised to use this shorting opportunity and create shorts within 2680-2700.