I have tried various indicators such as SMA's, EMA's, stochastics, Bollinger bands etc, while trying to analyze a stock, but they often are only as effective as making a wild guess on picking a stock. My question here is, how can you use the indicators to effective use and which one of these is the most reliable(if any)?
Sure they work - right until they don't.
Explanation: A stock picking strategy based on technical indicators is at worst a mix of random guessing and confirmation bias, which will "work" only due to luck.
At best, it exploits a systematic inefficiency of the market. And any such inefficiency will automatically disappear when it is exploited by many traders. If it's published in a book, it is pretty much guaranteed not to work anymore.
Oh, and you only get to know in hindsight (if at all) which of the two cases above applies to any given strategy.