Ashish Chaturmohta of Sanctum Wealth Management has recommended 4 mid-cap stocks to buy now.
Jubilant Food made a high somewhere around Rs 2350 and saw a correction till 2000 odd levels. For the last couple of trading sessions, despite the market seeing lot of volatility, this stock is managing or sustaining around the 2000 levels and we are seeing good delivery volumes picking up.
I see a strong possibility of Jubilant Food testing Rs 2100-2120 in a very short span of time. This could be bought at current levels with a stop around Rs 1980 levels.
Cholamandalam Finance is trading near its all-time high. We have not seen any significant correction when the markets fell.
On the first sign of strength of the market, Cholamandalam is one stock which is going to see a stronger outperformance and this could be bought with a stop around 1300-1390 and 1400 could be the target in next three-four trading sessions in Cholamandalam Finance.
Intellect Design Arena, post its results, has seen a very strong delivery volumes, strong breakout on weekly and monthly charts above the Rs 190 zone.
Keeping that in mind, I see a good 10% to 15% upside from current levels. Intellect Design could be bought at the current levels and so the stop around Rs 188, Rs 220-225 could be a positional target in next two-three weeks.
Persistent is showing very good strength. Despite market correction, we are seeing the stock trading near its 52-week high.
I see a strong possibility of Persistent testing somewhere around 850-860 zone in next two-three weeks. This could be bought with a stop around 770 zone, Ashish Chaturmohta said.
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