Top five technical picks by Jitendra Mehta

ET brings to you top five technical picks by Jitendra Mehta, Edelweiss Financial.

Tata Steel

Breakout from an inverted head & shoulder pattern has a measured target of Rs 438.

Buy target: Rs 438

Stop loss: Rs 415.50

Last close: Rs 423.15

Union Bank of India

A strong start on rising volumes & bullish momentum suggests outperforming potential.

Buy target: Rs 141

Stop loss: Rs 123

Last close: Rs 128.45

GMR Infrastructure

Having crossed the recent high of 23.75 after a brief correction, it is poised for a rally.

Buy target: 26

Stop loss: Rs 22.75

Last close: Rs 23.80

SKS Microfinance

The stock has surpassed an intermediate top of 198, signaling a sustainable breakout.

Buy target: Rs 222

Stop loss: Rs 189

Last close: Rs 201.85

Idea Cellular

With short-term momentum in sell mode, expect further weakness.

Sell target: Rs 159

Stop loss: Rs 174

Last close: Rs 169.10