Mid-Cap Picks with Anil Singhvi: 3 top stocks to buy – SBI Card, Sparc and Tata Elxsi

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Zee Business Managing Editor and Market Guru Anil Singhvi spoke to Rajesh Palviya, DVP (Head Technical & Derivative Research) Axis Securities today to know the latter’s Short Term, Positional and Long-Term mid cap stock picks having strong fundamentals from which investors can reap excellent returns. Palviya responded with 3 names – SBI Card, Sparc (Sun Pharma Advance Research Company) and Tata Elxsi. 

Positional Term Pick: SBI Card 

The daily chart indicates, SBI Card stock has given a breakout after consolidating around Rs 860. According to weekly setup, SBI Card stock has given a break out after 10 to 12 weeks. Breakout on Daily and weekly setup indicates that the stock can further move up from current levels. SBI Card stock can see targets of Rs 940 – Rs 950 with stop loss of Rs 825.  

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Long Term Pick: Sparc (Sun Pharma Advance Research Company) 

Sparc stock witnessed good volume action in last week. Daily chart shows down sloping trend line breakout in the stock. After a corrective move, on the weekly chart Sparc stock is showing good breakout. Sparc stock seems to be poised for a big breakout from here on. Any corrective action would give a good buying opportunity to buy into the stock. The stock should be bought in the range of Rs 185 – Rs 195 with stop loss of Rs 178 and target of Rs 240 – Rs 250. 

Short Term Pick: Tata Elxsi 

Tata Elxsi stock is trading in bullish territory across all the timeframes. Buying setup has been strong across this stock looking at the daily setup. The stock has witnessed good buying in past 2 sessions. The stock is making higher highs since past 3 to 4 weeks. Tata Elxsi stock can see target of Rs 1975 in short term with stop loss of Rs 1830