Daily trading stock picks - May 14
Check out the top five stock picks of the day by Deepesh Panchawala, Technical Analyst, Indsec Securities & Finance.
Source: Economic Times (http://economictimes.indiatimes.com/articleshowpics/5928849.cms)
1. Infosys
- RECOMMENDATION: Buy
- Last Close: Rs 2706.15
- Target: Rs 2795
- Stop Loss: Rs 2660
As per Elliott wave, Wave-C of flat correction terminated on Wednesday at Rs 2,662 levels and the stock has entered the next upmove. Both, RSI & MACD have given a buy signals. One can buy at the current level for a price target of Rs 2,795.
2. ANSAL PROPS
- RECOMMENDATION: Buy
- Last Close: Rs 88.1
- Target: Rs91.5
- Stop Loss: Rs 86.7
After a long consolidation phase, the stock is now rising with high volumes. Both, short-term moving average & RSI are in the ‘buy’ mode. Hence, we recommend buying at the current level with a sloploss below Rs 86.70 for a price target of Rs 91.50.
3. CUMMINS
- RECOMMENDATION:Buy
- Last Close: Rs575.95
- Target: Rs595
- Stop Loss: Rs 565
After a sharp rise of 90 points, the stock was seen consolidating in the range of Rs 585-555 and the breakout is now expected in a day or two. Hence, we recommend buying at current level with a sloploss below Rs 565 for a price target of Rs 595.
4. Bank of India
- RECOMMENDATION: Sell
- Last Close: Rs 335.40
- Target: Rs323
- Stop Loss: Rs340
After a blunt rise from 310 to 394 levels, the stock has witnessed a sharp fall, with the support coming at 315-320 levels and is expected to correct further from current levels. We recommend selling with a sloploss above Rs 340 for a price target of Rs 323.
Note: We are not responsible for your investment decisions.
