Stock picks of the day for March 07, 2019

Kaveri Seed Company Ltd: Buy| CMP: Rs.426.55 | Target: Rs 465| Stop Loss: Rs 412| Return 9% 

The stock has given a breakout above its consolidation on the daily chart which signifies rising bullishness in the stock.

On the weekly chart, a bullish pattern is visible which suggests a recovery in the price in the coming days. The daily price momentum indicator RSI (14) is in bullish crossover and rising.

Traders can accumulate the stock in the range of 422-429 for the target of 465 with a stop loss below 412.

Tata Elxsi: Buy| CMP: Rs 950.10 | Target: Rs 1026| Stop Loss: Rs.912 | Return 8%

The stock has moved above a downwards consolidation pattern on the daily chart. In addition, an inverted head and shoulder pattern breakout is visible on the daily chart.

Daily RSI (14) is in bullish divergence which suggests the momentum is likely to remain positive over the short term.

Traders can accumulate the stock in the range of 940-952 for the target of 1026 with a stop loss below 912.

Sun Pharma: Buy| CMP: Rs.460.55 | Target: Rs 495| Stop Loss Rs 444| Return 7.50%

On the daily chart, the stock has given a rectangle pattern breakout which suggests increased bullishness in the counter.

The stock is seen to have moved above previous swing high. In addition, daily RSI has given an inverted head and shoulder breakout.

Traders can accumulate the stock in the range of 455-465 for the target of 495 with a stop loss below 444.