Midcap Picks with Anil Singhvi: Astec LifeSciences, CCL Products and Sterlite Technologies are stocks to buy for bumper returns

In conversation with Zee Business Managing Editor Anil Singhvi on the Special Midcap Stock Picks show, Axis Securities’ Rakesh Palviya recommended three stocks to investors. Palviya picked Astec LifeSciences, CCL Products and Sterlite Technologies for long, positional, and short-term views respectively. Here is why the expert picked these shares. 

Long-Term Pick: Astec LifeSciences 

In the last two to three months, Astec LifeSciences has created a base formation of around Rs 1000 per share level. It has taken support of base formation multiple times, says Palviya. Adding further, Stock has shown consolidation range break-out with volume action in the daily chart set up. 

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The expert states that the way stock is showing all it's short to medium-term moving averages, they are both regaining and sustaining. The shares of this company should be bought now or after a mild correction as there has been a reversal pattern, says Palviya, which makes shares grow around Rs 1250 per share with a stop-loss of around Rs 1080. 

Positional Pick: CCL Products 

The daily chart of CCL Products shows a rounding bottom formation, moreover, it is penetrating into multiple supply zones, says the market analyst. He adds, the short to medium-term moving averages of stock is trading above, as well as its weekly setup is in down-sloping channel trade.  

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In the last two days, a breakout was seen in the stock, which is sustaining so far, says the expert. He also points out that there has been a reversal in the shares with respect to weekly and daily charts. He sets a positional base target of Rs 310-320 per share with a stop-loss of Rs 255 per equity share. 

 Short Term Pick: Sterlite Technologies 

A series of higher top and higher bottom formations are visible in this stock with respect to daily and weekly charts, says the expert. He adds, the stock’s near-term setup gives confidence that it will grow by Rs 265 per share in the short-term. The stock is so far sustaining above daily and weekly setup breakout, moreover, its volatility level is behaving at the narrow range too, says Palviya. 

The market states there is a buying interest continuously happening in the stock, he sets a target of Rs 265 per share with a stop-loss of Rs 220 per share in the next one to three months.