Mid-cap Picks With Anil Singhvi: Amid bounceback rally at the Indian indices, Zee Business Managing Editor Anil Singhvi has been strongly recommending mid-cap stocks to make maximum gains in this pull-back rally with minimum investment. The Market Guru today asked Rajesh Palviya to share his stocks to buy list today and Palviya replied with GNFC, Srikalahasthi Pipes and Gujarat Alkalies shares to buy today.
Sharing his long-term mid-cap pick with Anil Singhvi, Rajesh Palviya said, “My long-term pick today is GNFC. Its shares are trading above all important moving averages and showcasing trend-reversal signals. It has recently shown a weekly breakout on the chart and one can buy this stock at Rs 194 to Rs 200 for the target of Rs 250. But, one must maintain the stop loss at Rs 180.”
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When Anil Singhvi asked for the positional or mid-term pick, Palviya said, “My positional pick for the day is Srikalahasthi Pipes. Srikalahasthi Pipes shares are trading above 50 days moving average and has retraced near 38 per cent from its recent correction. One can buy Srikalahasthi Pipes shares in between Rs 197 to 202 for the target of Rs 230 to Rs 235.” But, Palviya again advised traders and investors to maintain the stop loss at Rs 188 while taking the buy position in the Srikalahasthi Pipes shares.
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On his short-term pick from the mid-cap segment Palviya told Anil Singhvi that Gujarat Alkalies shares will be a good buy in short-term perspective. He said that the stock has shown three year downslope, but now, one can buy this counter between Rs 278 to 282 for the target price of Rs 320.” However, he again advised investors to maintain the stop loss at Rs 272.