Mid-cap Picks with Anil Singhvi: Jay Thakkar picks Kaveri Seeds, Trident, and MMTC for top returns

In a chat with Zee Business Managing Editor Anil Singhvi today, market expert Jay Thakkar recommended his top three mid-cap stock picks for investors to buy, which he said have great potential to earn bumper returns. These stocks were recommended with long-term, positional medium-term, and short-term views. Know why this analyst thinks these stocks hold promise!   

Long Term Pick: Kaveri Seeds 

The market analyst expects Kaveri Seeds to show an upside of 50 per cent in the long-term view. In FY21, the stock showed recovery and posted a rally till August, though it was an impulsive move, but from August to March there has been healthy correction and consolidation, says Thakkar. 

See Zee Business Live TV Streaming Below:

The expert states, the stock which is currently trading at Rs 618 per share, may see a target achieving Rs 900 per share as, since March, a momentum is seen in this stock. He points out, a double bottom pattern breakout is seen as well as higher tops and higher bottom formation has been also been started. Interestingly, a golden crossover is also visible in this stock, says Thakkar while setting a stop-loss of Rs 530 per share, creating a risk load of 1:3 ratio. 

Positional Pick: Trident 

Thakkar says, Trident had been a strong performer and giving bumper returns in the past. The stock has shown a good consolidation in the last three months, after a run-up from Rs 9 to 16 per share, says the expert adding further the buying took place in huge volumes.  

The analyst says a next upside leg of Rs 23 per share could be expected on positional perspective as a momentum of reverse has formed, he sets a stop-loss Rs 11 per share. 

Short Term Pick: MMTC 

The analyst had been recommending MMTC since it was at Rs 22 per share, after a breakout was established. He adds, MMTC when suggested the first time had shown an inverse head and shoulder pattern for a target of Rs 30-35 per share, it was achieved in stipulated time. 

Thakkar again recommended it at Rs 30 per share for a target of Rs 40 per share and even that was achieved. In the current run, we see a clear falling channel breakout and its fourth wave of consolidation has ended, says the expert setting a target of Rs 54 apiece and stop-loss of Rs 41.5 per share.