Mid-Cap Picks With Anil Singhvi: Crisil India, Timken India and ABB are stocks to buy, says Sacchitanand Uttekar

Mid-Cap Picks With Anil Singhvi: Crisil India, Timken India and ABB are stocks to buy, says Sacchitanand Uttekar

Market expert Sacchitanand Uttekar, Deputy. V.P-Research at Tradebulls, while talking to Zee Business Managing Editor Anil Singhvi on the Special Mid-cap Picks show was as bullish as the wider markets and recommended Crisil India, Timken India and ABB as his long-term, positional and short-term picks. The stock market on Tuesday closed with minor gains. Notably, BSE Sensex jumped 112.77 points to close at 40544.37 today even as NSE Nifty was up 23.75 points and ended the day at 11,896.80.

Stocks to Buy: Crisil India 

Sacchitanand Uttekar picked his long-term pick from rating agencies space. Picking Crisil India he clearly said the pattern formed on this stock is of higher top and higher bottom. Looking at the data for this week, it is clearly visible that the stock has witnessed a fresh breakout after consolidation and trading above 200 day exponential moving average. The way weekly charts are looking, it seems Crisil India stock may give a break out near Rs 1950 levels. Crisil  stock is clearly witnessing higher top and higher bottom sequence, this pattern indicates that the stock can go up to the levels of 2300 to 2340 from 1 year point of view. Momentum is extremely strong on this stock, and would suggest buying into Crisil India looking at the strong structure at current market price with a stop loss of Rs 1760. Break out on the stock and long term structure on the stock indicates that move on this stock will surely get extended further.

Stocks to Buy: Timken India

Sacchitanand Uttekar said looking at the monthly structure of this stock; it clearly shows that since 2018 there has been some accumulation pattern going on, which is called rounding saucer pattern. This pattern shows breakout was witnessed here in the month of August showing good pullback in the stock recently. The neckline of Timken India stock is around Rs 1000 and stock rebounded from these levels last week. Weekly charts clearly show a falling wedge formation which indicates the decline was in its final stage and rebound clearly shows higher top and higher bottom sequence. The stock price can give up move till Rs 1320-Rs 1380 levels. The pattern formed over here indicates that Timken India stock has broken after consolidating for 2 long years. The stop loss for Timken India is 985 and targets will be achieved in 6 months. One should add this stock in their portfolio as stock has given a fresh breakout.  

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Stocks to Buy: ABB

Picking ABB, Sacchitanand Uttekar said that the stock has been in a tight range of Rs 850 to Rs 1000 for the past 4 months. Yesterday ABB stock witnessed volume-price breakout on this stock, it has clearly taken out swing highs for the past 4 weeks in just one day. Looking at the weekly crossover pattern, it looks like one can see good momentum in ABB stock. The 200 day exponential moving average is around Rs 980. The stock can be bought for next few weeks with stop loss of Rs 855 and target of Rs 990.

(Authored by Rahul Kamdar)