Mid Cap Picks with Anil Singhvi: Mrs Bectors Food, Newgen Software and Tinplate are stocks to buy
On the Special Mid Cap Stocks show with Zee Business Managing Editor Anil Singhvi, market analyst Sacchitanand Uttekar recommended three stocks for long term, positional and short-term targets.
On the Special Mid Cap Stocks show with Zee Business Managing Editor Anil Singhvi, market analyst Sacchitanand Uttekar recommended three stocks for long term, positional and short-term targets.
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Uttekar's long-term pick was Mrs Bectors Food. He said a very good base formation is visible in this scrip after almost 40 per cent correction from its listing price. It has created floor around Rs 380. Technical analysis suggests that accumulation is almost over in this counter and it should also show a a good momentum. From long term point of view, this stock is available at good rate. One should buy it for a target of Rs 520 in 9 to 12 months. Stop-loss would be Rs 370," he said.
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Uttekar recommended Newgen Software as his positional pick. He said this stock has already gained after a spike was confirmed in this share. There is still good upside left in this counter and one should adopt 'buy on decline' approach in this scrip. An upside of 20 to 22 per cent is still there in this stock. It should be bought with stop-loss of Rs 294. Target for Newgen Software would be Rs 380 to Rs 400," he said.
Picking Tinplate as his short-term pick, market analyst said this stock is trading in good range after confidently breaking a two-year-old neckline around Rs 160 and there is a very good pullback. It has also formed a bullish pennant and should show a target of Rs 210 in short-term. The stop-loss should be Rs 156, he added.
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