5 Best Stock Picks To Buy For 2019 (Technical Analysis)

[Ravi]

Buy Axis Bank CMP 603, MCAP INR 1,55,074 Cr.

Stock has completed a 180 week correction/consolidation phase as highlighted in the chart. Post the previous breakout in 2014 we seen the stock give a substantial return. Currently the stock has bounced from its long term trendline and is trading near to its all time high levels. We expect the stock to touch 900 in the next 12-15 months.

Buy Auro Pharma CMP 790, MCAP INR 45,885 Cr.

AuroPharma is has broken out of its channel pattern /consolidation phase, the stock has also retested its channel breakout levels and bounced to its 52 week highs. Currently on the smaller timeframe stock has broken out of its flag pattern. We can expect a target of 1200 in the next 12-15 months.

Buy PVR Ltd CMP 1423 , MCAP INR 6630 Cr.

PVR is in an uptrend since 2012, the stock has been consolidating in the last eight months . The stock is near its channel breakout. On the shorter timeframe stock has broken out of its inverse H&S pattern indicating the momentum could bring in a larger breakout of the consolidating channel .We could see the stock touch 1850 in the next 12-15 months.

Buy Muthoot Finance CMP 445 , MCAP INR 17,883 Cr.

Since the uptrend starting in 2013 stock has moved in an upward sloping channel keeping a drawdown of 30% approx, currently the stock has completed a similar drawdown and reversed. Trading near a breakout, we expect the stock to pick momentum and achieve a target of 700 according to the upward sloping channel.

Buy Firstsource Solutions Ltd. CMP 57, MCAP INR 4000 Cr.

First Source ltd has retested its previous break out level after hitting a 10 year high. The stock is expected to bounce from this demand area to resume its uptrend and could achieve a target of 100 in the next 12- 15 months

Stocks To Buy Entry Potential Target

Axis Bank Ltd 603 900
Aurobindo Pharma Ltd 790 1200
PVR Ltd 1423 1850
Muthoot Finance Ltd 445 700
Firstsource Solutions Ltd 57 100

Potential Portfolio Return 53%