Mid-Cap Picks With Anil Singhvi: Advanced Enzyme, Thyrocare and Newgen Software are stocks to buy, says Sacchitanand Uttekar

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Market expert Sacchitanand Uttekar, Deputy. V.P-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 – Advanced Enzyme, Thyrocare and Newgen Software. These are his long-term, positional and short-term picks.
 
Long Term pick – Advanced Enzyme

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Advanced Enzyme shows good pullback and Rs 301 was a critical level for the stock. Rounding bottom formation breakout was witnessed in the stock a few months ago. Weekly patterns suggest there is a bullish pattern which may take Advanced Enzyme stock to it’s life highs. Investors should add long positions in range of Rs 290 – Rs 300 with a weekly closing stop loss of Rs 255 with a target of Rs 420.

Positional Term Pick – Thyrocare

Thyrocare stock had witnessed strong breakout around levels of Rs 680, after these the stock did touch the levels of Rs 1200. The stock has fallen by over 25-27% in the past 2 months. Technically, classical zigzag corrective waves are visible in Thyrocare stock. Looking at the long term indicators, the stock should be bought in the Range of Rs 800 – Rs 820 as this zone would act as a good support with stop loss of Rs 760 and target of Rs 1200 to Rs 1220. This segment has witnessed tremendous growth in the year 2020. Risk to reward in Thyrocare counter is extremely healthy to make some good profit for investors.

Short Term Pick: Newgen Software

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Newgen Software stock has moved into a sideways zone after a good upmove. Weekly and monthly structure indicates there is a good buying opportunity in the counter. Newgen Software stock can see a good breakout from current levels. In case the stock falls from current levels, investors should look at buying into the counter. Stock should be bought aggressively around Rs 230 with stop loss of Rs 205 and target of Rs 270.