Stock picks of the day for March 12, 2019

Kotak Mahindra Bank Limited: Buy| Target: Rs 1330| Stop-Loss: Rs 1210| Upside 6.4 % 

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

Meanwhile, the stock is holding strong above the support zone of the long-term moving average i.e. 200-EMA on the daily chart.

Technical indications are now in the favor of fresh surge in the near future. Traders shouldn’t miss this opportunity and accumulate within 1240-1250 range. The stock closed at 1249.55 on March 11, 2019.

Aurobindo Pharma Limited: Buy| Target: Rs 820| Stop-Loss: Rs 715|Return 8.2 %

Among the pharma counters, Aurobindo Pharma has been consistently maintaining its long-term uptrend since 2009. It is currently hovering in a range around its record high and looks it is all set for a fresh up move.

The existence of major support zone around 700 combined with favorable positioning of the indicators is adding to the positivity to our view. We advise traders to initiate fresh long positions in the given range 740-750. It closed at 750.75 on March 11, 2019.

Marico Limited: Buy| Target: Rs 362| Stop-Loss: Rs 337| Upside 4.6%

MARICO has formed a fresh buying pivot on the daily chart after witnessing marginal profit taking from its record high. The buoyancy in the FMCG index is adding to the confirmation.

We advise traders not to miss this chance and initiate fresh longs position as per the levels 343-346. It closed at 347.80 on March 11, 2019.