Mid-cap Picks With Anil Singhvi: NIIT, Raymond and Grindwell Norton are stocks to buy, says Rajesh Palviya

The stock market held out strong on Monday and closed with major gains. Market expert Rajesh Palviya, while talking to Zee Business Managing Editor Anil Singhvi on the Special Mid-cap Picks show was as bullish as the wider markets and recommended NIIT Limited, Raymond and Grindwell Norton as his long-term, positional and short-term picks. Notably, BSE Sensex jumped 276.65 points to close at 38,973.70 today even as NSE Nifty was up 86.40 points and ended the day at 11,503.35. Also, the Indian rupee depreciated by 16 paise to close at 73.29 against the US dollar.

Stocks To Buy: NIIT Limited 

Rajesh Palviya picked his long-term pick from IT mid-cap space based on its daily, weekly and monthly setup. Picking NIT Limited, he said the stock is trading over all moving averages after recent buying interest and consolidation and has witnessed a breakout, hence could be bought in the range of Rs 133-138 with a stop-loss of Rs 125. He recommended it for long-term target of Rs 170-180. NIIT ended the day on Rs 137.15 on NSE, up by 4 per cent than its last day price. 

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Stocks To Buy: Raymond 

Palviya said Raymond stock has already consolidated enough in a fixed range in the last two to three months and is trading over its 100-day moving average. He said bearish formation in short term chart indicates that it should be bought in the range of Rs 286-290 for a target of Rs 330. He said to maintain a stop-loss of Rs 280 and accumulate in the current level. NIIT Ltd was his positional stock recommendation. 

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#SPLMidcapStocks | शॉर्ट टर्म, पोजीशनल और लॉन्ग टर्म में दमदार रिटर्न के लिए आज राजेश पालविया किन 3 मिडकैप शेयरों पर हुए बुलिश? जानें यहां
#ZBizBazaar #MidcapStocks @AnilSinghvi_ @rajeshpalviya pic.twitter.com/IxHt0BTqeF

— Zee Business (@ZeeBusiness) October 5, 2020

Stocks To Buy: Grindwell Norton 

Picking Grindwell Norton as his short-term pick, Palviya said the stock has seen a good consolidation and is trading above all its moving averages. He added that it is ready to give a good move. Asking to maintain  stop-loss of Rs 540, he put a "Buy" call on Grindwell Norton. The stock was trading in the range of Rs 561 to 565 and its short-term target was Rs 620.