Stock Market Tips >> 3 hot stock picks from Reliance Securities

Mahindra & Mahindra Ltd

CMP: 13701| RECO: BUY| TARGET: 1445-1495| STOP LOSS: 1330

The stock found support around its long-term moving average 100-day SMA after witnessing a sharp decline from Rs1,430 and later rose to a one week closing high.

Due to recovery in the price, key technical indicators-Stochastic and RSI has also reversed from the oversold zone/bull market support area.

 UltraTech Cement Ltd

CMP: 4014| RECO: BUY| TARGET: 4400| STOP LOSS: 3830

The stock reversed after taking the support of its long-term moving average 200-day SMA forming a Double Bottom Pattern around Rs3,830 and rose to a 7-day closing high, signaling near-term turnaround.

Rise in RSI post positive cross-over and recovery in MACD from its prior reversal level is also indicating that the stock is on the verge of a turnaround and will soon resume its uptrend.

Arvind Ltd

CMP: 370| RECO: BUY| TARGET: 397| STOP LOSS: 354

The stock has seen a decent correction from the high of Rs 425 and consistently making higher bottoms after touching the bottom at Rs 352.

The key technical indicators have also reversed turning upwards and the stock is poised for a breakout from the current levels.