Mid-Cap Picks With Anil Singhvi: Sterlite Technologies, Astra Micro Systems and Aegis Logistics are stocks to buy, says Sacchitanand Uttekar
Market expert Sacchitanand Uttekar, Head Research at Tradebulls, while talking to Zee Business Managing Editor Anil Singhvi on the Special Mid-cap Picks show on Tuesday was very bullish on his recommendations today - Sterlite Technologies, Astra Micro Systems and Aegis Logistics. These are his long-term, positional and short-term picks
Market expert Sacchitanand Uttekar, Head Research at Tradebulls, while talking to Zee Business Managing Editor Anil Singhvi on the Special Mid-cap Picks show on Tuesday was very bullish on his recommendations today - Sterlite Technologies, Astra Micro Systems and Aegis Logistics. These are his long-term, positional and short-term picks.
Long Term Pick: Sterlite Technologies
Sterlite Technologies stock should be bought at current levels by the investors and should be made a part of their portfolio. Overall, looking at the chart structure, the inverse head and shoulder pattern has been formed and it seems Sterlite Technologies stock is ready for a breakout. The pattern suggests targets of Rs 255 after breaking the level of Rs 163. Looking at the data for the past 7 days, a flag formation has happened on the stock, which indicates the secular moves will continue going forward as well. Sterlite Technologies should be bought with a target of Rs 255 and stop loss of Rs 170.
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Positional Term pick: Astra Micro Systems
The monthly and weekly chart on Astra Micro Systems stock clearly indicates a continuation pattern which is called a flag formation. The pattern seems to be quite matured looking at the volume action of the past 3 weeks. Astra Micro Systems stock has consolidated in the range of Rs 115 to Rs 130, it seems now it is ready for a breakout. The stock can further move up 30 – 35% from hereon. The target on Astra Micro Systems stock is Rs 165 with stop loss of Rs 102. On Monthly charts, bullish harami formation indicates the base has been shifted to Rs 100 –Rs 110 levels. Momentum is extremely strong on this stock.
Short Term Pick: Aegis Logistics
Looking at the weekly charts, after June 2018, Aegis Logistics stock has given strong closing. The stock has given a breakout after closing above Rs 260, forming a bullish breakout formation. Higher top and higher bottom formation has been established on Aegis Logistics stock. Volume on the stock has been extremely good. Aegis Logistics target price is Rs 330 (20% upside from current levels) with stop loss of Rs 260. Risk to reward is favourable in this trade
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