In a conversation with Anil Singhvi, Managing Editor at Zee Business, Rajesh Palviya, VP, Head Technical and Derivative Research at Axis Securities Ltd suggested three midcap stocks for the short term, positional, and long term investment.

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Bombay Dyeing

 

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For long-term investment, Palviya suggested Bombay Dyeing to the investors. He said, "The stock has made a base around a range of 55 to 60 and after that the type of accumulation activity is seen it shows that now the downfall of the stock is going to over."

Palviya suggested buying the stock for the long term and gave a target of 120 to 130. He said that the buy range will be around 84 to 80 and gave a stop loss of around 72.

 

V-Guard

Speaking on the positional stock he suggested V-Guard and said "If we look at the weekly setup of V-Guard then we can observe breakout of multiple resistance zone and the profit booking which was seen from the higher side last week, the breakout of it is sustained."

"While observing the monthly setup it can be seen that a rounding bottom has been formed and its breakout has already happened in last month," he added.

Palviya said that the stock can be bought for positional investment and gave a target of around 320 to 330. He suggested buying V-Guard around the range of 268 and a stop loss of around 250.

Varun Beverages Limited (VBL)

Talking about the short-term pick he suggested Varun Beverages Limited (VBL). Palviya said that looking at the strength in the near-term chart of the stock it will pick a good momentum in short term. He gave a target of 1,160 to 1,170 and a stop loss of around 1,050.