Amid stock market trading in a broader range of 10,100 to 10,500, Zee Business Managing Editor Anil Singhvi has already made it clear to the investors that ‘buy on dips’ strategy is the best till the NSE Nifty is above 10,000 mark and Bank Nifty is above 21,500 levels. However, the Market Guru also made it clear that mid-cap stocks are expected to outperform other stocks and asked market expert Ashish Kelkar to come out with his long-term, positional and short-term stock picks.
The market expert suggested these three shares to buy — IPCA Labs, Biocon and Coromandal International.
Giving his long-term call Ashish Kelkar said, “My long-term pick for stock market investors is IPCA Labs. The mid-cap stock has shown a breakout and higher top and higher bottom uptrend is visible. Currently, the stock is trading at Rs 1,695 and my suggestion to the investors is to hold this stock for six to eighty months. In this period, the counter will first meet its target of Rs 1,890 and then the next target will be Rs 2,250 per stock levels.”
See Zee Business Live TV streaming below:
Speaking on the positional stock to buy Ashish Kelkar said that one can buy Biocon as a positional share for the target of Rs 435 maintaining stop loss at 392 per stock levels. He said that Biocon has yesterday made up-flag formation breakout that means it is out of the narrow range in which it had been trading since June 2.
Watch full coverage in video below:
#SPLMidcapStocks | शॉर्ट टर्म, पोजीशनल और लॉन्ग टर्म निवेश के लिए मार्केट एनालिस्ट आशीष केलकर के 3 बेहतरीन मिडकैप स्टॉक्स#ZBizBazaar #Midcap #MidcapStocks @AnilSinghvi_ @AshishKelkar12 pic.twitter.com/5oIBWAg1s5
— Zee Business (@ZeeBusiness) June 26, 2020
Asked about the share to buy for the short-term horizon, Kelkar said that Coromandal International is his pick for the short-term share to buy. He said that yesterday in the last one hour trade, its demand has suddenly gone up that has helped the mid-cap counter to make a breakout and hence one can buy Coromandal International counter for the target of Rs 800 maintaining the stop loss at Rs 740 per stock levels.