Mid-Cap Picks With Anil Singhvi: Rallis India, Shilpa Medicare and Avanti Feeds are stocks to buy, says Sacchitanand Uttekar

Market expert Sacchitanand Uttekar, Head Research at Tradebulls, while talking to Zee Business Managing Editor Anil Singhvi on the Special Mid-cap Picks show was quite bullish on his recommendations today - Rallis India, Shilpa Medicare and Avanti Feeds. These are his long-term, positional and short-term picks.

Long Term Pick: Rallis India

The company belongs to Tata Group. The stock made a high of Rs 260 in January, 2018 and the market witnessed sharp fall after that. In June 2020, the stock witnessed a very strong breakout here. The stock has formed a cup and handle pattern on the monthly scale. The stock can see targets of Rs 360 to Rs 380. Recovery on this stock started from April 2020 and the corrective action witnessed here in the past few months gave a good opportunity to re-enter this stock. The stock is near good entry levels and can show good upmove from here on. The stop-loss on the trade will be Rs 240.

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Positional Term pick: Shilpa Medicare

The stock has formed a falling wedge weekly formation on weekly charts. From September 2020, the stock did form lower top lower bottom, a bearish cycle was formed here. At Rs 310, the stock formed bullish hammer formation. The stock can see further breakout looking at the RSI. The stock can see a target of Rs 460 with stop-loss of Rs 360 on a weekly closing basis.

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सच्चितानंद उत्तेकर से जानिए मजबूत फंडामेंटल वाले 3 बेहतरीन मिडकैप शेयर#SPLMidcapStocks @AnilSinghvi_ @USacchitanand pic.twitter.com/9PbUHYKVOT

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Short Term Pick: Avanti Feeds

The stock has reversed after falling for 16 weeks. The stock reversed sharply from its 200 weekly moving averages. The stock is poised for further up move from here on. The falling channel structure indicates that the target price on the stock is Rs 590 with stop-loss of Rs 440.