Mid-Cap Picks with Anil Singhvi: Tata Coffee, Subros and Emami Industries are stocks to buy, says Sacchitanand Uttekar
Tata Coffee, Subros and Emami Industries are long-term, positional and short-term picks.
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 today and he recommended Tata Coffee, Subros and Emami Industries as his long-term, positional and short-term picks. Indian benchmark equity indices regained some of the previous session losses today, at close the Nifty was up 121.60 points or 1.03% at 11,889.40. In the process the Indian markets outperformed all the other Asian markets. Possible fund inflows due to the MSCI rejig kept the sentiments buoyant in India.
Stocks to Buy: Tata Coffe (Long Term Pick)
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Picking Tata Coffee Sacchitanand Uttekar clearly said that the stock has performed extremely well and has already moved up 50% in past 5 to 6 months. The stock has been correcting in past 1.5.to 2 months, decoding the price action further, now it has formed a bullish pattern. After good up move in this stock, it has consolidated extremely well. Short term and long-term averages have been maintained nicely in this stock. RSI breakout today on the weekly charts is an indication that some revival is possible here soon. Consolidation of stock has been mature and now it is looking good for a breakout. One should invest in this stock for target of Rs 140 with the horizon of one year and stop loss of Rs 96 on a closing basis.
Stocks to Buy: Subros (Positional Pick)
Sacchitanand Uttekar said Volumes has been extremely good in this stock. Short term and weekly charts indicate that after consolidating for 11 weeks stock has clearly broken out. Clearly rounding bottom formation has happened on the monthly charts. One should consider trading longs as well in this stock, as above Rs 270 levels the stock can go upto Rs 320 as well. Stop loss on Subros should be around Rs 240 and target of Rs 320 can be achieved in next 2 to 3 months.
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Stocks to Buy: Emami Industries (Short-term pick)
Picking Emami Industries, Sacchitanand Uttekar said that after strong V-shaped recovery on this stock, it has witnessed healthy consolidating for past 1 month. Institutions participation has been extremely encouraging in this stock; FII’s has increased their holding to 8.9% from 5.8% in past quarter. Breakout is seen on short term charts after consolidation in this stock. Stock can see levels of Rs 400 to Rs 420 considering the pattern formed. Stop loss should be tight around Rs 340 levels considering this is a momentum call. Level of Rs 350 should not be violated as stock has consolidated for a while before breaking out.
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