Technical analyst Ashish Kyal of Waves Strategy Advisors has shared his top stock picks for the day. Kyal suggests considering SBI Life and KPIT Technologies as potential investments for the day. Both stocks have exhibited positive momentum and outperformed the broader market in recent times.

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Kyal identifies SBI Life as his first stock pick for the day, highlighting its impressive uptrend and consistent outperformance compared to the broader market. SBI Life has been exhibiting a strong upward trajectory, making it an attractive candidate for long positions.

To minimize risk, Kyal advises setting a stop loss at Rs 1,188, indicating a level at which the position should be exited to limit potential losses.

The target price for SBI Life is set at Rs 1,320, suggesting an upward potential for the stock. Notably, SBI Life has already witnessed a gain of over 7 percent in the past month, further bolstering its prospects.

The second stock recommended by Kyal is KPIT Technologies, within the midcap IT space. Kyal highlights the stellar return exhibited by this stock and its ongoing positive momentum. KPIT Technologies has been showing a consistent upward movement, supported by increasing trading volumes.

To capitalize on this trend, Kyal suggests creating long positions in KPIT Tech, with a recommended stop loss level of Rs 1,015. The target price for KPIT Technologies is set at Rs 1,127, indicating potential gains for investors.

Impressively, the stock has already recorded a 12 percent increase in the past month, further validating its positive

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First Published:May 31, 2023 12:58 PM IST