Stock Picks Podcast on April 17, 2018: 3 stocks could give up to 11% return
Moneycontrol News
Tata Global Beverages Ltd: BUY| Target Rs300 | Stop-loss Rs 268 | Return 7%
Tata Global reversed northwards after forming a Double Bottoms around 250 levels to close at two months high on Monday. The stock price has also given a bullish breakout by closing above the downward sloping trendline, adjoining the highs of 15-January-2018 and 09-April-2018.
The stock price is trading above its 20, 50, 100 and 200-SMA, which indicates a bullish setup for the medium to long-term charts. The momentum indicators and oscillators are also showing strength in the stock.
FMCG as a sector is doing well. Therefore, we recommend buying Tata Global at CMP of Rs 280 for the upside target of 300 and keep a stop loss below 268.
JAI CORP Ltd: BUY| Target Rs. 181 | Stop-loss Rs 154| Return 11%
Jai Corp has given bullish trendline breakout on the daily chart with higher volumes by closing above the downward sloping trendline, adjoining the highs of 11-January-2018 and 09-April-2018.
In the month of March, after taking support near 200-DMA, Jai Corp reversed northwards to close above its 5 and 20-DMA with higher Volumes.
The momentum indicators and Oscillators like RSI, MACD, and KST are showing strength in the Stock for the short to medium term. Therefore, we recommend buying JAI CORP for the upside target of 181 and keep a stop loss below 154.
Genus Power Infrastructure Ltd: BUY| Target Rs. 62 | Stop-loss Rs 54 | Return 8%
After forming double bottom around 49 odd levels, Genus Power reversed its trend to close at one month high today with higher volumes. Few oscillators like RSI and KST have formed positive divergence during the month of March.
This means price levels were making lower bottoms and oscillators were making higher bottoms, indicating that dominance of bears was gradually going down.
The stock price is currently trading above its 5 and 20-DMA indicating bullish trend for the short term. Therefore, we recommend buying Genus Power for the upside target of 62 and keep a stop loss below Rs54.
Disclaimer: The author is Technical & Derivatives Analyst at HDFC Securities. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.