Stock picks of the day for February 20, 2019

Power Finance Corporation Limited: Buy| Target: Rs 115| Stop Loss: Rs 100| Upside 9%

On the daily charts, the stock has been trading in a downward sloping channel and trading with the formation of the lower high and lower bottom after testing 110 levels in recent past.

This week we have observed a fresh breakout in prices above the falling trend line along with positive divergences on secondary oscillators.

Additionally, the stock has also managed to close above its 200-days exponential moving average (EMA) on the weekly interval which is again a bullish signal for the stock.

So, traders can accumulate the stock in a range of 105.50-107.50 for the upside target of 115 levels with a stop loss below 100.

Dalmia Bharat Sugar and Industries Limited: Buy| Target: Rs 112| Stop Loss: Rs 94| Upside 12%

The stock has been maintaining above its long-term moving averages and has been trading in a range of 88-100 from last more than one month.

However, on the broader charts as well the stock has formed a W pattern along with double bottom which signifies limited downside in prices moving forward.

So, traders can accumulate the stock in a range of 100-102 for the upside target of 112 levels and a stop loss below 94.

ICICI Lombard General Insurance Company Limited: Buy| Target: Rs 1022| Stop Loss: Rs 860| Upside 11%

After taking support at its 200-days exponential moving average (EMA) and is forming a double bottom pattern around 810 levels on a daily interval, stocks took V-shape recovery and once again reclaim 900 levels.

On the broader charts, as well the stock has been consolidating in range of 820-920 levels from last two months. We believe the breakout after the prolonged consolidation can trigger fresh buying into the stock which could move price higher towards new highs.

So, traders can buy the stock above a breakout level of 920 for the upside target of 1022 levels and a stop loss below 860.