Shrikant Chouhan, Senior VP- Technical Research at Kotak Securities recommends the following picks:
Jain Irrigation Systems: BUY: CMP / Stop-Loss: 103.9 / Target: 120
Stock has given a break-out of resistance last week, with huge surge in volumes and is now in throwback mode with low volumes, indicating us that profit booking activity is happening in the stock. In our view, stock can correct up to the 20-SMA, which is currently placed at 105.5, in which case longs should be added. Stop loss should be placed at 103.9 for a target of 120 with a time horizon of 10 days.

Engineers India: BUY: CMP / Stop-Loss: 162.80/ Target: 182
Stock is in an impulse uptrend forming higher-high – higher-low pattern on daily time scale, with positive SAR series. It has also formed a big green candlestick on daily scale, which is indicating uptrend continuation. Stock has broken multiple resistances, which are placed around 166-167 levels. One can go long in Engineers India keeping a Stop-loss at Rs.162.80 for an initial price target of Rs. 182, with a time horizon of 10 days.

Muthoot Finance: BUY: CMP / Stop-Loss: 375 / Target: 435
The Stock is in very strong uptrend and positive news flow, which will strengthen the overall performance of the stock. With the inclusion in FNO basket, it will further increase the public participation of the stock. It is currently available at important support levels and with favorable risk to reward ratio makes it a preferred bet. One can go long in Muthoot Finance keeping a Stop-loss at Rs.375 for an initial price target of Rs. 435, with a time horizon of 10 days.
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