Stock picks of the day for February 28, 2019

SBI: Buy| LTP: Rs.267.65 | Target Rs 291| Stop Loss Rs.254| Upside 8.50%

The stock has been resting around 80 percent retracement of the previous rally from 247 to 307. In addition, an Anti-Cypher pattern has formed on the daily chart of the stock which suggests a recovery in the price in the days to come.

The daily RSI (14) is seen to have moved out of the oversold zone and currently in a positive crossover. Traders can accumulate the stock in the range of 265-270 for the target of 291 and a stop loss below 254.

Coal India: Buy| LTP: Rs.221.55 | Target Rs 240| Stop Loss Rs.213| Upside 8%

The price has moved above sharply above its recent downwards consolidation. In addition, the price has closed above its 20-EMA two days in a row for the first time after two months.

A positive divergence in the daily RSI (14) also confirms the positive momentum over the short term. Traders can accumulate the stock in the range of Rs 220-224 for the target of Rs 240 with a stop loss below Rs 213.

Torrent Pharma: Buy| LTP: Rs.1813.10 | Target Rs 1950| Stop Loss: Rs.1758| Upside 7.55%

The stock has recently witnessed a breakout above its consolidation on the daily chart which suggests a rise in optimism.

In addition, the stock has been closing above 20EMA for the last few days, suggesting the buoyancy of the short term bullishness.

Daily RSI (14) is in bullish crossover and rising with a current reading of greater than 50. Traders can accumulate the stock in the range of 1810-1820 for the target of 1950 with a stop loss below 1758.