Stock picks of the day for March 08, 2019
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Bajaj Finserv: Buy| Target: Rs 7194| Stop Loss: Rs 6350| Upside 9%
The stock witnessed strong gains for the third consecutive week and has also broken out from the Symmetrical Triangle pattern on the weekly chart.
We expect the current momentum to get extended further towards a potential target of Rs 7194 levels in the medium term.
Allahabad Bank: Buy| Target: Rs 61.5| Stop Loss: Rs 53.25| Upside 10%
The stock has shown immense strength in the recent past and has also broken out from an inverse head and shoulder pattern on the weekly chart.
It has also surpassed its 100-days weekly exponential moving average. Projections indicate that the stock has the potential to rally towards Rs 61.5 in the medium term.
KNR Construction Ltd: Buy| Target: Rs 250| Stop Loss: Rs 226| Upside 7%
Our weekly chart analysis suggests that the stock has broken out from an inverse Head and shoulder pattern on the weekly chart indicating that every decline from here on should be an opportunity to accumulate. Projections indicate that the stock has the potential to rally by another 7 percent in the medium-term.