SMC Global Securities has selected Bombay Burmah Trading Corporation and ICICI Bank as technical picks with a time horizon of 1-2 months.

Commenting on the technical rationale on Bombay Burmah Trading Corporation, SMC Global said, "The stock closed at Rs 535.65 on Jul. 17, 2015. It made a 52-week low at Rs 138.90 on Jul. 25, 2014 and a 52-week high at Rs 554.90 on May. 28, 2015. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at Rs 412.28.

As we can see on the charts, there is sharp upside momentum since 2014. After trading into consolidation zone for sometime it again moved sharply last week and is very close to its 52 week high which shows its potential. One can buy in the range of 530-535 levels for the target of 575-585 levels with SL of 510 levels.''

While commenting on ICICI Bank, the stock broker said, "The stock closed at Rs 317.45 on Jul. 17, 2015. It made a 52-week low at Rs 280.35 on Jun. 08, 2015 and a 52-week high of Rs 393.40 on Jan. 28, 2015. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at Rs 314.05.

After a marginal fall from 380 levels, it rebounded sharply from 280 levels and sustained thereafter. Moreover, it has formed Inverted head and shoulder on daily charts which is a major boost for this particular scrip and will help to reach our desired targets. One can buy above 320 levels for the target of 350-355 levels with SL of 305 levels.''

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