Stock picks of the day for February 22, 2019

Jindal Steel: Buy| Target: Rs 166| Stop Loss: Rs 149.5| Upside 7%

The stock has shown immense strength in the past two weeks and has bounced back from the lower end of the falling channel pattern.

The stock has the potential to extend the current momentum which is likely to lift the stock towards the expected target of Rs 166 in the medium term. The relative strength is above the 60 levels which further accentuates out bullish stance on the stock.

Muthoot Finance: Buy| Target: Rs 580| Stop Loss: Rs 513| Upside 8.5%

The stock has been consolidating for the past five weeks and has finally broken out from a Symmetrical Triangle pattern on the daily chart. The price outburst has been accompanied by a smart uptick in traded volumes.

Positive crossovers on the smaller period moving averages indicate that the current momentum is likely to get extended further. Hold long positions with a strict stop around Rs 513 on a closing basis.

Bajaj Finance: Buy| Target: Rs 2800| Stop Loss: Rs 2582.5| Upside 5.5%

The stock has been trading in a channel since January 2019 and has currently recovered sharply from the lower end of the channel.

Given the positive crossovers on the RSI, we expect the stock to make an attempt to move towards the Rs2,800 levels which are the higher end of the entire channel. Hold long positions with stop-loss at Rs 2,582.5 on a closing basis.