Want to know which index stock in the mid-cap space is expected to carry a higher weight over other stocks? How will it impact the Nifty in the long term? How the insurance sector is poised in the medium term and on which stocks can the investors make money? Know these important details as Managing Editor Anil Singhvi puts these incisive questions before market expert Shrikant Chauhan.
Analyst Chauhan starts by recommending a Buy on Larsen and Toubro with a long term view. The weekly chart shows a reversal pattern. Even on a daily basis, there was a good correction, where the stock has seen a reversal bottom.
Watch Zee Business Tweet Video Below:
#SPLMidcapStocks | मार्केट एनालिस्ट श्रीकांत चौहान की शॉर्ट टर्म, पोजीशनल और लॉन्ग टर्म के लिए मजबूत फंडामेंटल वाले 3 दमदार मिडकैप स्टॉक्स#ZBizBazaar #Midcap #MidcapStocks @AnilSinghvi_ pic.twitter.com/a6jsRthTnD
— Zee Business (@ZeeBusiness) July 3, 2020
And how will it affect the index? The stock has consolidated and being part of the index, the stock can play a vital role towards catapulting the Nifty levels between 10800 and 11000. This is why this stock should be bought, he added. Larsen and Toubro is currently trading around Rs 950. With a stop loss of Rs 950 and target price of Rs 1100, this stock is a fine bet with a long term view.
Chauhan’s positional mid cap stock with a medium term view is from the insurance sector. Many stocks in this space have been doing well. He recommends a Buy on ICICI Prudential as the stock is trading with a good momentum. The price retracement of this stock has been good, he adds. While it has been seeing a reversal trend on a monthly and weekly basis, today it also saw a daily reversal. The stock is currently trading at Rs 434. He puts the stop loss at Rs 405.
ICICI Prudential stock should be bought at current levels with a 30-45 day view. The target price is Rs 480.
See Zee Business Live TV Streaming Below:
The technical analyst chooses Bajaj Finserv stock as his short term bet. The stock is currently trading around Rs 6200 and may achieve a target of Rs 6300-Rs 6400 over the next 1-2 days. It has potential to give good returns if bought keeping in mind a preemptive stop loss of Rs 6100.