{"type":"rich","version":"1.0","title":"Stock picks of the day for January 16, 2019","description":"ITC Limited: Buy| Target: Rs 313| Stop Loss: Rs 280| Return 7%\n\nOn the daily charts, the stock has been hovering around its 200-days exponential moving average (DEMA) for more than two months in a broader range of 270-290 supported with consistent buying at lower levels.\n\nThe consolidation in prices has formed a Symmetrical Triangle pattern on the daily charts and last week also witnessed a fresh breakout above the triangle pattern with marginally higher volumes.\n\nThe breakout suggests that follow up buying can move stock toward the north in coming sessions as well. Traders can accumulate the stock in a range of 292-297 for the upside target of 313 levels and a stop loss below 280.\n\nBharti Airtel Limited: Buy| Target: Rs 366| Stop Loss: Rs 310| Return 10%\n\nThe stock made a double bottom pattern around 280 levels on the daily charts and took a V-shaped recovery towards 320 levels.\n\nOn the daily interval, the stock has formed an inverted head and shoulder pattern and has also managed to give breakout above the neckline of the pattern this week along with positive divergence on secondary indicators.\n\nTraders can accumulate the stock in a range of 332-338 for the upside target of 366 levels and a stop loss below 310.\n\nTata Motors LTD - DVR Ltd: Buy| Target: Rs 106| Stop Loss: Rs 91| Return 9%\n\nThe stock has been consolidating near its lower levels within a broader range of 90-98 for more than four weeks. However, from technical front, the stock has formed an inverted head and shoulder pattern on daily charts and is on verge of a fresh breakout above the pattern.\n\nAdditionally, prices are also maintaining well above its short term moving averages which will support the up move in prices going forward. Traders can accumulate the stock in a range of 97-99 for the upside target of 106 levels and a stop loss below 91.","author_name":"Moneycontrol Podcast","author_url":"https://audioboom.com/channels/4937727-moneycontrol-podcast","provider_name":"Audioboom","provider_url":"https://audioboom.com","width":480,"height":95,"thumbnail_url":"https://audioboom.com/i/34220749/600x600/c","thumbnail_width":600,"thumbnail_height":600,"html":""}