HUL, Ipca Lab, Bikaji: Top stock picks by Chandan Taparia of Motilal Oswal

BUY HINDUNILVR CMP: Rs 2,757 Stop Loss: Rs 2,690 Target: Rs 2,890

Hindustan Unilever is in overall uptrend and is on the verge of giving Pole and Flag pattern breakout on daily chart. It has retested breakout on daily scale and inching higher. The ADX Indicator has turned up on the daily and weekly scale indicating overall strength in the price setup.

BUY Ipca Lab CMP: Rs 1,318, Stop Loss: Rs 1,287 Target: Rs 1,380

Ipca Lab has given trend line breakout and also formed Bullish candle on Daily Chart with noticeable volumes. Buying is visible across Pharma space which may support the ongoing up move.

BUY Bikaji CMP: Rs 735 Stop Loss: Rs 715 Target: Rs 775

BikajiI has given consolidation breakout on daily chart. It has formed a strong bullish candle on daily scale and base is shifting higher. It is trading above all crucial moving averages with momentum indicator RSI has given bullish cross over.

(Chandan Taparia is a senior vice president of equity derivatives & technicals, broking & distribution at Motilal Oswal Financial Services Ltd. Views expressed are his own.)