Stock picks of the day for September 14, 2018

HUL Ltd: Buy| LTP: Rs. 1626.85 | Target Rs 1757| Stop Loss: Rs 1569| Return 8%

On the daily chart, the price has been consolidating after a correction from its lifetime highs. The daily momentum oscillator, RSI (14) is having a positive

divergence which suggests that the price may react positively in the near-term.

In addition, an ‘Alternate Shark Harmonic’ pattern has formed on the daily chart of the HUL which may propel a rally in the stock. Traders can accumulate the

stock in the range of Rs 1620-1630 for the target of Rs 1757 with a stop loss below Rs 1569.

Kotak Mahindra Bank Ltd: Buy| LTP: Rs 1230.40| Target Rs 1310-1330| Stop Loss Rs.1187| Return 6.0-8%

The stock has been witnessing a correction since it made a new record high of Rs 1417. At the lower end, it has just found support at the 200-EMA which led to an increase in demand for the stock.  

The momentum indicator RSI (14) is having a bullish divergence with the stock price. In addition, an engulfing pattern around the crucial support may set a rally in the stock.  

Traders can accumulate the stock in the range of Rs 1230- 1240 for the target of Rs 1310 with a stop loss below Rs 1187.

Edelweiss: Buy| CMP: Rs.259.30 | Target Rs 286| Stop Loss: Rs.247| Return 10%

On the daily chart, the price has been consolidating after a correction from Rs 330 to 250. A Gartley Harmonic pattern has formed on the daily chart which may propel a rally in the stock.  

In addition, an engulfing pattern, as well as a tweezers bottom, is visible around 248. Daily momentum oscillator, RSI (14) is having a positive divergence which suggests price may react positively in the near term.  

Traders can accumulate the stock in the range of Rs 255-265 for the target of Rs 286 with a stop loss below Rs 247.