Market expert Rajesh Palviya (DVP, Head Technical & Derivative Research at Axis Securities) while talking to Zee Business Managing Editor Anil Singhvi, on the Special Midcap Stock Picks show, on Monday was bullish on Indoco Remedies, Persistent System and Hindustan Aeronautics. He recommended these shares with long-term, positional and short-term objectives. Know why the market analyst picked these three stocks.
Long Term Pick: Indoco Remedies
The daily weekly setup on this stock indicates that it is in uptrend and series of higher top higher bottom is formed here. The stock has consolidated for 7 to 8 weeks if we look on the basis of weekly setup. The stock now seems to be on the verge of breakout. Long term set up seems to be on the positive trajectory. Overall, Pharma sector is seeing good traction on the long side. The stock should be bought in the range of Rs 315 – Rs 325 with target of Rs 400 and stop loss of Rs 300.
See Zee Business Live TV Streaming Below:
Positional Term Pick: Persistent System
The stock looks in an uptrend across all time frames. Daily and weekly setup indicates that on every fall there seems to buying emerging at lower levels. Looking at the weekly setup, there seems to be range breakout on the stock. The target of the stock is Rs 1850 – Rs 1880 with stop loss of Rs 1725.
शॉर्ट टर्म, पोजीशनल और लॉन्ग टर्म में किन मिडकैप शेयरों में बनेगा दमदार पैसा?
— Zee Business (@ZeeBusiness) February 8, 2021
Short Term Pick: Hindustan Aeronautics (HAL)
The stock has broken it multi month resistance zone of Rs 1020 and looks good for further upside from here on. Daily and weekly set up on the stock seems to be positive. The stock has seen good buying in last 3 to 4 sessions. Breakout on the daily chart indicates that the momentum will continue from here on. The targets of HAL will be Rs 1140 with stop loss of Rs 1000.