Stock picks of the day for February 27, 2019

Tata Consultancy Services Limited: Buy| LTP: Rs 2032| Target: Rs 2200| Stop Loss: Rs 1920| Upside 8%

After testing Rs 2100 levels in the recent sessions, the stock witnessed profit booking at higher levels and once again it retraced back towards Rs 1880 levels to take support at its 200-days exponential moving average on the daily interval chart.

This week, we have seen a V-shaped recovery into prices as the stock was constantly trading above its short-term moving averages along with hefty volumes and rise in price. Traders can accumulate the stock in a range of Rs 2030-2040 for the upside target of Rs 2200 levels and a stop loss below 1920.

Bajaj Finserv Limited: Buy| LTP: Rs 6427| Target: Rs 7000| Stop Loss: Rs 6050| Upside 9%

The stock has been trading in a downward sloping channel since January 2019 with the formation of a lower high and lower bottom pattern on the daily as well as weekly charts.

Last week after taking support at its 200-days exponential moving average on daily charts, the stock took a V-shaped recovery from lower levels and gave a channel breakout above the falling trend line.

This week as well, some large volumes emerged into the stock along with a rise in price, which point towards more upside in the coming sessions. Traders can accumulate the stock in a range of 6400-6450 for the upside target of 7000 levels and a stop loss below 6050.

REC Limited: Buy| LTP: Rs 134.30| Target: Rs 146| Stop Loss: Rs 9%

The stock has been consolidating in a broader range of 115-130 for more than two months now along with consistent buying emerging at lower levels.

However, this week, we have observed a fresh breakout into prices after a prolong consolidation along with positive divergence on the secondary oscillators.

Additionally, we have also observed a bullish flag breakout on the weekly charts. Traders can accumulate the stock in a range of 132-133 for the upside target of 146 levels and a stop loss below 124.