Stock Picks Podcast on April 13, 2018: 3 stocks could give up to 13% return

Moneycontrol News

Jindal Stainless (Hisar) Limited: BUY| Target 205| Stop Loss 171| Returns 13.2%

The stock has been trading in a declining trend for the past three months and has now finally broken out from a Falling Wedge pattern on the weekly chart.

The price outburst has been accompanied by a strong uptick in traded volumes. The stock has also managed to surpass its long-term 200-DEMA which is placed around the Rs 180 mark. We expect the stock to make an attempt to rise towards its potential target of Rs 205 in the medium term.

IRB Infrastructure Ltd: BUY| Target 302| Stop Loss 258| Returns 11%

The stock could see a multi-year breakout on the cards as a five-year long consolidation phase finally seems to be coming to an end. IRB was stuck in a trading range between Rs 171 and Rs 260 which in turn has formed a Rectangular Channel pattern on the weekly chart.

Projections indicate the stock is all set to move towards its conservative target of Rs 302.

Balkrishna Industries Ltd: BUY| Target 1388| Stop Loss 1235| Returns 8%

The stock has shown immense momentum in the past two weeks and has finally broken out from a continuation pattern on the weekly chart.

Rising volumes and other oscillators also indicate that the current momentum is likely to extend further. We advise investors to keep a strict stop loss of 1235 on every long position in the stock.