Stocks to buy: Want to know which mid cap stock in the Nifty 50 is under-owned but has great potential in the long term? Why stocks in pharma and healthcare space score over stocks in some other sectors? Market Expert Jay Thakkar gives answers on these important question, as he reveals his top 3 stocks to buy list to Zee Business Managing Editor Anil Singhvi.
This analyst picks Tata Steel with a long term view. The stock is currently trading around Rs 347. He said that since the stock is recommended with a long term view, the stop loss will be slightly farther at Rs 290. The first target price of this stock is Rs 415 while the second target price will be Rs 340.
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Thakkar said that this metal stock is one of the 5 Nifty 50 stocks which has been under owned. Tata Steel has a good potential to rise as there is still a lot of boom left. If one sees the metal index Tata Steel has come to the lower end of the range and the risk-reward situation is quite good from here.
The analyst recommends Metropolis as his positional medium term pick. The stock is currently trading around Rs 1429. The analyst said that he sees the stop loss at least Rs 100 lower than the existing trading price i.e. around Rs 1329. He puts the target price at Rs 1550. The weekly chart of this stock suggests higher top and higher bottom. The company which is into health sector and runs diagnostic labs. The sector is also doing well, which holds good for the company.
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#SPLMidcapStocks | शॉर्ट टर्म, पोजीशनल और लॉन्ग टर्म के लिए मार्केट एक्सपर्ट जय ठक्कर ने आज बताए 3 दमदार मिडकैप स्टॉक्स जो देंगे बेहतरीन रिटर्न#ZBizBazaar #Midcap #MidcapStocks @AnilSinghvi_ @JayThakkar22 pic.twitter.com/OKU3MEq4f6
— Zee Business (@ZeeBusiness) July 9, 2020
As for the short term, he picks Jubilant Life Sciences. Thakkar said that this stock has seen a breakout and is currently trading around Rs 721. He puts the target price between Rs 750 and Rs 765 on a near term basis. The stock has a support zone at Rs 700.