In today’s edition of Special Mid-cap Stocks show, analyst Jay Thakkar recommended three stocks which he said have the potential to earn bumper returns. While he picked stocks with a long term, positional medium term and short term view, he revealed in detail the finer points that go in favour of these stocks to deliver profit for investors.
Top Stocks To Buy: Sudarshan Chemical Industries
In a chat with Zee Business Managing Editor Anil Singhvi, Thakkar today picked Sudarshan Chemical Industries as a long term Buy. He said that the monthly indicators on its movement are positive even under the current market situation. This stock is currently trading around Rs 439. Though this stock has fallen from the level of Rs 634 to Rs 290, the volumes were not there during this time.
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In the last few months the stock has seen good accumulation volumes at lower levels. It was 2-3 times higher than its average monthly volumes. This stock should be bought around the current levels. He expects a target price of Rs 600. He puts the stop loss at Rs 380. It is comfortably trading as per the daily and weekly charts, this analyst said. Sudarshan Chemical has seen a breakout after consolidation from Rs 380.
Top Stocks To Buy: Exide Industries
Thakkar picked Exide Industries as his positional medium term Buy. Technically, this stock has given good volumes at lower price valuations. It is now undergoing consolidation at lower levels. There will be a breakout at higher levels, he said. It has a support at Rs 146. It is nicely poised on daily and weekly charts on the Buy side. It is likely to clear its 200-day moving average soon. He puts the target price at Rs 190 and a stop loss at Rs 146. This stock is currently trading around Rs 160.
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Top Stocks To Buy: Kansai Nerolac:
As for the best short term pick, Thakkar picked Kansai Nerolac. This stock is currently trading around Rs 461. The first target price is Rs 500 and the second is Rs 520. He puts the stop loss at Rs 442. The rationale behind picking this stock is that it has given a breakout from a falling channel. The stock will see an uptick from here.