Market expert Rajesh Palviya while talking to Zee Business Managing Editor Anil Singhvi, on the Special Midcap Stock Picks show, on Monday was bullish on Indian Hume Pipe, Metropolis and CARE Ltd.  He recommended these shares with long-term, positional and short-term objectives. Know why the market analyst picked these three stocks.

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Long-term pick: Indian Hume Pipe
Palviya's long-term pick was Indian Hume Pipe. Talking about this share, he said corrective mode seems complete in this stock and it has already given a breakout in weekly chart. “There was a breakout of one year on weekly chart. The stock should be bought from here. Ideal range will be Rs 205 to Rs 217. The stock could achieve the target of Rs 250 to Rs 260 in 9 to 12 months. I’ll suggest a stoploss of Rs 195 for this scrip.”  

Positional mid-cap: Metropolis
This stock has shown good recovery on weekly chart in the last 3 to 4 weeks, he said. The market analyst said Metropolis stock is continuously forming higher high formation as per weekly set up. “The stock should be bought for a positional target of Rs 2250 in 3 to 6 months. Metropolis stoploss should be Rs 2090 and stock should be accumulated when there is minor corrective action, Palviya added.

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Short-term pick: CARE Ratings Ltd  

This stock looks very attractive from short term perspective. “The next target for CARE Ratings should be Rs 590 and this target could be achieved even before the Union budget. I’ll recommend to buy CARE Ratings by maintaining a stoploss of Rs 515. The stock has already shown reversal on monthly setup. When there is monthly chart reversal is seen in the stock, it also indicates at big target. CARE Ratings stock could even be accumulated with long term objective and it could even show Rs 800 to Rs 1,000 range,” Palviya added.