3 weekly technical picks from Mansukh

Following are the weekly technical picks from Mansukh Investment and Trading Solution:



Finolex:

Buying is recommended at CMP of Rs 54.55 with first target of Rs 57.5, second target of Rs 60 and stop loss of below Rs 50.This stock formation is just like double bottom shape after getting good support at 45 level and tends to move in upward trajectory with nearby targets at around Rs 60. Currently this scrip is trading above the 20, 50 and 200 DSMA and the technical indicators RSI and Stochastics show strong bullish momentum in near term.

Blue Star:

Buying is recommended at CMP of Rs 451.85 with first target of Rs 470, second target of Rs 490 and stop loss of below Rs 430. This stock is looking bullish as it is making higher tops and higher bottoms formation after getting support at 320 level. Currently this stock has broken stiff resistance level around 420-430 and tends to move in upward trajectory with nearby targets at Rs 470-490.Currenty this stock is trading above all the moving averages (20, 50 and 200 DSMA) and the technical indicators RSI and MACD shows bullish momentum in near term.

Hindustan Unilever:

Selling is recommended at CMP of Rs 262.4 with first target of Rs 255, second target of Rs 250 and stop loss of below Rs 270. The stock is undoubtedly in a downtrend and facing a stiff resistance in the range of 270-275. If the market will correct further from this level the stock will easily meet ts target around Rs 250. Currently, this stocks price is trading below moving average 20 DSMA which confirm short term weakness in the scrip. All the daily ndicators ROC, RSI and MACD are looking bearish.