Stock Picks Podcast on April 6, 2018: Top 3 stocks could give up to 12% return

Moneycontrol News

Exide Industries Ltd: BUY| Target 260| Stop Loss 224| Returns 10%

The stock has been consolidating for the past 12-months and is finally on the verge of a Channel pattern breakout on the weekly chart. Rising volumes and positive crossovers on the smaller time frame charts indicate that the current momentum is likely to extend further.

We expect Exide to move higher towards its potential conservative target of Rs260. It is advisable to keep a strict stop loss below Rs 224.

Kotak Mahindra Bank Ltd: BUY| Target 1240| Stop Loss 1057| Returns 11%

In the past two months, the stock has gone through multiple whipsaws that have resulted in a formation of Symmetrical Triangle pattern on the daily chart. A close above Rs 1090 has also confirmed the breakout with the rise in volumes.

The weekly chart analysis indicates that Kotak Bank is on the verge of a Rising Channel pattern breakout too. In addition, it has also managed to sustain above its short-term averages which further accentuates our bullish stance on the stock. We expect Kotak Bank to rally towards its potential target of Rs 1240 levels.

Bajaj Finserv Ltd: BUY| Target 6098| Stop Loss 5125| Returns 12%

The stock has been trading in a solid higher top higher bottom structure. After consolidating for over eight weeks, the stock has finally broken out from a Declining channel pattern on the weekly chart.

The price outburst has also been accompanied with a smart uptick in the traded volumes. We expect the stock to move beyond its previous all-time high and make a dash towards its potential target of Rs 6098.