Stock picks of the day for March 19, 2019

PNB: Buy| LTP: Rs 86.54| Target: Rs 96| Stop-Loss: Rs 81| Return 11%

The stock price broke out from the bullish “Symmetrical Triangle” pattern on the daily charts couple of week back which indicates the continuation of a primary uptrend.

The stock is consolidating for the last 5 sessions. The moving average and Oscillator setup is bullish on the daily as well as weekly charts.

Considering the technical evidence discussed above, we recommend buying the stock between CMP and Rs 83 for the target of Rs 96 and keep a stop loss at Rs 81 on a closing basis.

IOC: Buy| LTP: Rs 163| Target: Rs185| Stop-Loss: Rs 150| Return 13%

The stock price has given a breakout from the bullish “Pennant” pattern on the daily charts, which indicates the continuation of a primary uptrend.

The stock has been forming higher tops and higher bottoms on the daily charts. It is now trading well above all the important moving average parameters. Indicators and oscillators have also turned bullish on the short to medium-term charts.

Considering the technical evidence discussed above, we recommend buying the stock at CMP and average it at 155, for the target of 185, and keep a stop loss at 150 on a closing basis.

Petronet LNG: Buy| LTP: Rs 244|Target: Rs 265 |Stop-Loss: Rs 231|Return 9%

The stock price has given a breakout from the downward sloping trend line on the weekly charts, indicating trend reversal for the medium-term.

The stock price has broken out from the 6 months consolidation. Moving average and Oscillator setup is bullish on daily and weekly charts.

Considering the technical evidence discussed above, we recommend buying the stock at CMP and average it at 237, for the target of 265, and keep a stop loss at 231 on a closing basis.