In yet another stock recommendation, market expert Sacchitanand Uttekar today picked three stocks which he said have potential to earn bumper returns. These stocks have been selected with long term, positional medium term and short term view. He has been regularly recommending his mid-cap stock picks in this popular show ‘Special Mid-cap Stocks’ with Zee Business Managing Editor and renowned market guru Anil Singhvi.
Top Stocks To Buy: Gabriel India – Long term
Uttekar picked Gabriel India as his top Buy with a long term view. He said that this stock does well particularly in September month if the data since 2009 seen. A correction shaped out in this stock in 2013 and a breakout happened in September. The charts suggest a declining channel formation and there is a flag formation. A sustainable upward move is likely to come for this share. This stock is currently trading around Rs 105 and the target price is around Rs 140. The stock should be bought for this target price. He puts the stop loss at Rs 92. Investors should follow the Buy on decline strategy and should hold this stock for 2-3 months.
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Top Stocks To Buy: NAM India – Positional
The analyst picked NAM India (Nippon Life India Asset Management). This stock was previously recommended by him in June for the target price of Rs 310. After meeting this target, the stock corrected gradually before consolidating again. The charts show a stable movement in this stock and it is achieving its 200-day exponential average. There is an opportunity coming now in this stock. This stock should be bought for a target price of Rs 320. He puts the stop loss at Rs 260.
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Top Stocks To Buy: Karnataka Bank – Short Term
As for the short term view, Uttekar picked a stock which is considered to be a small counter in the banking domain. This stock is Karnataka Bank and it is showing strength on the charts and it made a swing around Rs 33. He expected a momentum in the near term. This stock has a potential to attain levels around Rs 58 in the near term. It should be bought around Rs 48- Rs 49 with a stop loss at Rs 44. It can even achieve levels around Rs 80 in the next few years, he said.