Midcap Picks with Anil Singhvi: Market expert Rajesh Palviya recommended these 3 very strong stocks
Market expert Rajesh Palviya while talking to Zee Business Managing Editor Anil Singhvi, on the Special Midcap Stock Picks show, has picked three very strong stocks -- Nippon Life India Asset Management Limited (NAM India), JSW Energy and Supreme Petrochem Ltd.
Market expert Rajesh Palviya while talking to Zee Business Managing Editor Anil Singhvi, on the Special Midcap Stock Picks show, has picked three very strong stocks -- Nippon Life India Asset Management Limited (NAM India), JSW Energy and Supreme Petrochem Ltd. He recommended these shares with long-term, positional and short-term objectives. Know why the market analyst picked these three stocks.
During the show, Palviya said: "In Nippon Life India Asset Management Limited (NAM India), we saw some good volume action last week. Its daily chart structure is positive, short to medium term indicators are also trading in a positive territory. The Nippon Life India Asset Management Limited (NAM India) stocks is currently trading around Rs 331.10. I think, as a long term, one should target Rs. 400. If any corrective action comes in current level, I will suggest the range between Rs 320 to Rs 330 to buy this stock, and the stop loss will be Rs 305. If we keep it for long term, I think the target price will be around Rs 400."
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Speaking on special positional stock during the show, Palviya has recommended JSW Energy as a positional pick. "If we see the setup of this company's stock, it is making higher top-higher bottom formation on weekly setup basis. If we look at the setups of the last few weeks, the stock of this company has also given triangular formation breakout."
"We have seen a good volume action from the company as well and we think' that the stock of JSW Energy will maintain this momentum in future as well. At present, the JSW energy stock is trading around 73.80. We suggest investors should buy the stocks in between the range of Rs 70 to Rs 74 and the stop loss of the stock should be Rs 67. The target price we think should come at Rs 90," Palviya further added.
Giving suggestions on the short-term picks in today's episode, the stock Palviya picked is -- Supreme Petrochem Ltd. The way the shares of this company has recovered in last 7-8 month, the stock is moving on its all-time high position.
He said: "When we see the monthly setups of Supreme Petrochem stock, it was at all time high (around Rs 440). The way its shares has recovered on the weekly and monthly setup basis, it will move to Rs 450 very soon. Indicators have shown that the shares of Supreme Petrochem Ltd will move in good directions in the future."
"Stock of Supreme Petrochem Ltd is currently trading around at Rs 392.30 and we will keep Rs 365 for stop loss. The target price of the stock will be Rs 430 to 400. If you are planning to buy any share on the short-term basis, Supreme Petrochem Ltd, should be the right choice to buy, he noted.
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