Stock Picks Podcast on April 11, 2018: 5 stocks could give up to 17% return
Moneycontrol News
BEML Ltd: BUY | Close: 1149.25| Target: Rs 1225 | Stop loss: Rs 1115 | Return: 6.59%
The stock has given a breakout from the ascending triangle pattern above Rs 1140-1142 levels on Monday with moderate volumes in the daily scale.
The Daily Relative strength index (RSI) is making the higher bottom and higher top and MACD is trading with a positive crossover whereas +DI continuously trading above –DI.
Traders can buy the stock in the range of Rs 1145-1150 with a stop loss below Rs 1115 (closing) for a target of Rs 1225.
Cholamandalam Investment and Finance Company Ltd: BUY | Close: 1564.15 | Target: Rs 1690 |Stop loss: Rs 1515 | Return: 8.05%
The stock has given a consolidation breakout above Rs 1545-1547 levels on the daily scale with higher volumes.
The Daily Relative Strength Index (RSI) is showing an upward momentum and the MACD is sustaining above the zero line with positive crossover whereas OBV — On Balance Volume, continuously trading in a positive channel, which indicates that the stock has the potential to move higher from current levels.
Traders can buy the stock around current levels and add on dips around Rs 1554-1560 with a stop loss below Rs 1515 (closing) for the target of Rs 1690.
KNR Constructions Ltd: BUY | Close: 311.35 | Target: Rs 350 | Stop loss: Rs 291 | Return: 12.18%
The stock has given a breakout from ascending triangle pattern above Rs 302-303 levels on Monday with higher volumes in the daily scale.
The Daily Relative Strength Index (RSI) is making the higher bottom and higher top and the MACD is trading with a positive crossover near the zero line whereas +DI continuously trading above –DI.
Positional traders can buy the stock around current levels and add on dips around Rs 305-307 with a stop loss below Rs 291 (closing) for the target of Rs 350.
Praj Industries Ltd: BUY | Close: 96.95| Target: Rs 114 | Stop loss: Rs 89 | Return: 17.53%
The stock has given a channel breakout above Rs 95 level on the daily scale with higher volumes.
The Daily Relative Strength Index (RSI) is showing upward momentum and the MACD is trading with a positive crossover near the zero line whereas, +DI continuously trading above –DI.
Positional traders can buy the stock in the range of Rs 95-97 with a stop loss below Rs 89 (closing) for the target of Rs 114.
Avenue Supermarts Ltd: BUY | Close: 1488.85 | Target: Rs 1620 | Stop loss: Rs 1420 | Return: 8.87%
In weekly scale, the stock is trading in upward momentum with moderate volume. The weekly Relative Strength Index (RSI) is showing an upward momentum and the MACD is continuously trading above the zero line with a positive crossover whereas, +DI continuously trading above –DI.
Based on the above-mentioned observations positional traders can buy the stock in the range of Rs 1480-1490 with a stop loss below Rs 1420 (closing) for the target of Rs 1620.