Zee Business has been recommending to its viewers top stock picks in mid cap space, which have massive potential. So, if you are looking at earning bumper returns, here is what you need to do. Managing Editor Anil Singhvi today spoke to Technical Analyst Ashish Kelkar and asked him to reveal his top picks. See what our panel expert has to say on his top long, positional medium and short term stocks.
Kelkar, while speaking to the Market Guru, said that his top pick would be Navin Fluorine with a long term view. The stock has excellent chart pattern which suggests an uptrend. This analyst recommends Navin Fluorine at existing levels. The stock is currently trading at Rs 1650. He puts the stop loss at Rs 1500 and the long term target price at Rs 2200. The stock is currently trading around Rs 1651.
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Kelkar said that his stock pick for a positional medium term will be from insurance sector. He picks HDFC Life suggesting that the previous three-month chart shows consolidation in the stock. It appears that the stock will have a break out at good levels and in large volumes. He recommends a Buy with a stop loss at Rs 530. He puts the target price at Rs 595. The stock is currently trading around Rs 556. He said that the levels should be achieved in next 10-14 days.
Kelkar said that his short term pick is from the banking sector. He said that there are many stocks in the banking and finance sector which have been doing well. He picks Canara Bank as his top Buy. The stock has seen a trend reversal after which it has been seeing higher tops and higher bottoms. The stock took a U-Turn from the higher bottom today.
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The bottom formation is around Rs 100. The technical analyst puts the stop loss at Rs 99 and the stock could reach Rs 109 in the next 4-5 trading sessions.