Mid-cap Picks with Anil Singhvi: Sacchitanand Uttekar picks CSB Bank, SPARC and HEG Ltd as top buys for bumper returns

In yet another episode of #Spl Midcap Stocks show, market expert Sacchitanand Uttekar today recommended three stocks with a long term, positional medium term and short-term views. These stocks have the potential to generate big gains for investors, he told Zee Business Managing Editor Anil Singhvi. Know what is working for these stocks here!    

Long Term Pick - CSB Bank

Market expert Sacchitanand Uttekar predicted that the long-term structure of CSB Bank is quite interesting as the overall chart of this stock is in cup and handle formation since 2019.

See Zee Business Live TV Streaming Below:

The 200 Weekly Moving Average (WMA) of CSB Bank is defending and creating a new elevated base. It has been elevated from Rs 210 to Rs 240 per share. He believes, there is three kind of formation rising, which is in bullish continuation pattern and there would be momentum in the stock going forward in the next few weeks.

With an upside target Rs 330 apiece and stop-loss of Rs 210 on weekly closing basis, the analyst predicts the stock to give around 35-38 per cent returns in next one year.

Positional Mid-Term Pick - SPARC

Almost after eight weeks of low top and low bottom sequence, there is a bullish hammer formation over the last week in SPARC, said Uttekar. Stating further, he also points out the overall chart is also establishing a falling wedge formation breakout. Moreover, there is a double bottom formation complementing the falling wedge formation, the analyst says.

So, Uttekar expects the stock to swing between Rs 195-200 per share in next few months. He gives a buy call at current price with a stop-loss of Rs 145 apiece.

Short Term Pick - HEG Ltd

Since the last time the analyst recommended about this stock, there has been a 10 per cent uptick in HEG Ltd. He explains, since last eight weeks the consolidation in this stock has been maturing and there's an impulsive move in the February series, followed by side-way authorisation in the March series.

The analyst sees a fresh breakout in short term average in the stock and there's already a bullish flag pattern established. He expects the stock to soar around 22 per cent in next three-four weeks with an upside target of Rs 1960 apiece and stop-loss Rs 1470 per share.