Stock picks of the day on April 1, 2019

PVR Limited: Buy| LTP: Rs 1644| Target: Rs 1805| Stop Loss: Rs 1497| Return 10% Time Frame 6 months

The share price of PVR Limited has formed a higher bottom around Rs 1430 during February 2019 which validates the change of polarity principle as May-November 2018 resistance now reverses its role as a support.

From a structural perspective, the current up move augurs well and reinforces a positive stance for an impending breakout above the lifetime highs of Rs 1665 in the coming weeks.

The short term support for the stock is placed around 1500 levels, and we expect the stock to resolve higher in coming months and head towards Rs 1805.

IPCA Laboratories: Buy| LTP: Rs 982| Target: Rs 1080| Stop Loss: Rs 840| Upside – 10%| Time Frame 6 Months

The share price of IPCA Laboratories has registered a breakout from the five-year consolidation which signals a structural turnaround and continuation of positive momentum in the medium term.

The stock has witnessed a faster retracement of the previous major decline as 14-quarter decline (906-400) is completely retraced in just six quarters signalling positive price structure.

The stock has major short-term support around 840-850 levels. We expect the stock to continue its current up move and test levels of Rs 1090 in the next 6 months.

NBCC: Buy| LTP: Rs 66.30| Target: Rs 80| Stop Loss: Rs 56| Upside – 20%| Time Frame 6 Months

The share price of NBCC has registered a bullish Double Bottom breakout signalling reversal of the corrective trend and offers fresh entry opportunity.

Longest pullback since November 2017 along with a faster retracement as six weeks of decline has been completely retraced in four weeks.

A faster retirement of the previous decline signals strength in the current up move and a positive price structure. The stock has support at 56.00 levels, and we expect the stock to head higher towards August 2018 high of Rs 80 as it is the 61.8%retracement of the last decline (109 to 47).