Stock Picks Podcast on April 18, 2018: 3 stocks could give up to 15% return
Moneycontrol News
NOCIL Limited: BUY| Target Rs260| Stop Loss Rs205| Return 15%
After testing 236 levels in early 2018, the stock witnessed profit booking at higher levels and retraced back towards its 100-days exponential moving average (DEMA) on the daily charts.
Since then, consolidation in the prices kept the stock in a thin range of 185-210 along with consistent buying at lower levels.
This week once again fresh breakout in the price has been observed above 220 levels along with hefty volumes. Additionally, the stock is also trading in a rising channel and forming higher highs and higher lows pattern on daily charts.
Traders can accumulate the stock in a range of 225-230 levels for the target of 260 and a stop loss below 205.
NRB Bearing Limited: BUY| Target Rs188| Stop Loss Rs 154| Return 13%
The stock has been consolidating in the range of 150-165 for more than eight weeks and this week it gave a breakout above the key resistance levels accompanied with larger volumes.
Additionally, the stock has also formed rounding bottom formation on weekly interval along with positive divergence on stochastic and RSI indicators.
The fresh breakout in price can trigger follow up buying the stock moving forward. So, traders can accumulate the stock in a range of 166-170 for the upside target of 188 and a stop loss below 154.
Supreme Industries Limited: BUY| Target Rs1450| Stop Loss Rs1180| Return 13%
After declining from 1450 levels in early 2018 stock took support at its 200 days exponential moving average on a daily interval which is placed at 1160 levels.
Since then the stock went into consolidation phase and has been seen trading in the range of 1160-1250 for more than eight weeks. Now, last week once again fresh breakout in prices has taken stock above its key resistance level of 1250.
Additionally, the stock has also given breakout above the bullish flag formation pattern on a daily interval. Traders can accumulate the stock in a range of 1280-1300 levels for the upside target of 1450 and a stop loss below 1180.