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Mid-cap stocks of the week Dec 05, 2004
The Mid cap stocks listed below are Nifty 500 components - liquid, traded easily and benchmarked volatility. These are stocks that we expect to out-perform the markets. It should be remembered that many of these stocks are trading with abnormally high volumes, maybe operator driven, and have appreciated significantly. Therefore, the risk element is likely to be very high. Take limited exposure to these stocks and maintain stop losses as specified.
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Individual stocks. |
Allahabad Bank - This scrip has been recommended by us consistently in the last four months since it traded at Rs 35 levels. The stock has performed well as per expectations and returned almost 100 % profits in 4 - 5 months. The scrip is undergoing consolidation at present levels and may retrace to the short term moving average at 60 levels, where discerning investors may re-enter afresh. We advocate a price of 80 in a few months time in a conducive market.
Your call of action - Buy on declines to the 60 levels and maintain a stop loss at the 52 - 53 levels. Expect 80 levels by end of March / April in a good market.
Allahabad Bank I Bajaj Hind I Balrampur Chini I Guj NRE Coke I Shree Cements I Tata Teleservices I Midcap index I Top I Close window I Print page
Bajaj Hind - this sugar scrip is in a major uptrend and is trading at near the all time highs. The oscillators are signalling a bullishness in the undertone and the scrip is above it's SMA's since 4 months. This stock is for the patient investor with atleast a 6 month perspective.
Your call of action - Buy at the current levels with a liberal stop loss at the 63 / 64 levels and expect to book profits at the 110 - 120 levels in a few months time in a conducive market.
Allahabad Bank I Bajaj Hind I Balrampur Chini I Guj NRE Coke I Shree Cements I Tata Teleservices I Midcap index I Top I Close window I Print page
Balrampur Chini - another sugar scrip that is in a bullish grip and trading at it's all time high. Our investors will recall that this scrip was recommended a quarter ago at 410 levels and has remained bullish since then. The scrip has a very high relative strength and is exhibiting classic signs of a bull market - higher tops and bottoms formation, price above the oscillators and the averages rising in text book formation. We recommend a buy on all declines.
Your call of action - Start buying on declines to the 425 - 430 levels and maintain a liberal stop loss at the 385 levels. Expect profit taking at the 500 - 520 levels in a conducive market in the medium / longer term.
Allahabad Bank I Bajaj Hind I Balrampur Chini I Guj NRE Coke I Shree Cements I Tata Teleservices I Midcap index I Top I Close window I Print page
Gujarat NRE Coke - this is another scrip that has been repeatedly featured in this newsletter. The recommendation has been highly profitable as the initial entry price was 64 and the appreciation has been over 100 % in 4 months. The scrip has a very high relative strength and is a very strong market out-performer. We recommend a buy on the counter on all declines. Technical traders may note the strong floor forming at the 106 - 110 levels, below which the scrip must not fall to remain bullish.
Your call of action - Buy on declines in a correcting market to the 115 levels and maintain a stop loss at the 107 levels. We expect profit taking at the 150 levels in a few months in a conducive market.
Allahabad Bank I Bajaj Hind I Balrampur Chini I Guj NRE Coke I Shree Cements I Tata Teleservices I Midcap index I Top I Close window I Print page
Shree Cements - This scrip is a very strong market out-performer and one of the strongest cement scrips in the mid cap segment. Traders / investors will notice how the counter makes consistent higher tops and bottoms and the higher relative strength on the charts. We recommend a buy on all / significant declines for the patient investor, with atleast a 6 month perspective. Technical traders may note that the lifetime high of this scrip is 260 and beyond this level, this stock goes into a new all time high.
Your call of action - Buy on declines to the 225 - 230 levels and hold with a stop loss at the 195 levels. Expect to book profits at the 300 + levels in 6 months in a conducive market.
Allahabad Bank I Bajaj Hind I Balrampur Chini I Guj NRE Coke I Shree Cements I Tata Teleservices I Midcap index I Top I Close window I Print page
Tata Teleservices - this telecom scrip was recommended by us months ago and has been a stagnant investment so far. The scrip has shown signs of life last week as the price has appreciated with a sharp hike in traded volumes. That is a sign of optimism and should the stock stay above the 20 levels in the coming week, the outlook improves substantially in the short / medium term. We recommend a buy on the counter.
Your call of action - Buy if the scrip stays above the 20 mark and hold with a stop loss at the 16 levels. We expect 30+ levels in the long term ( 8 - 12 months ). This scrip is for the patient investor only.
Allahabad Bank I Bajaj Hind I Balrampur Chini I Guj NRE Coke I Shree Cements I Tata Teleservices I Midcap index I Top I Close window I Print page
CNX Mid-cap Index - the mid-cap index was accurately predicted by us to hit the 2325 levels last week and has hit the target. The outlook for the mid-cap stocks remain positive and the higher tops and bottoms formation remains intact. However, the oscillators are pointing towards a possibility of a corrective fall and absolute caution is advocated, especially if the index fails to make a fresh high in the coming weeks. Expect support at the 2200 levels.
Your call of action - Watch the 2200 levels which should not be violated in the coming fortnight.
Allahabad Bank I Bajaj Hind I Balrampur Chini I Guj NRE Coke I Shree Cements I Tata Teleservices I Midcap index I Top I Close window I Print page
- Have a profitable week.
- Vijay L Bhambwani
- Ceo :- Bsplindia.com
The author is a Mumbai based investment consultant and invites feedback at Vijay@BSPLindia.com and ( 022 ) 23438482 / 23400345.
SEBI disclosure :- The author has no positions in any securities mentioned above.
- While all due care has been taken while in compiling the data enclosed herein, we cannot be held responsible for errors, if any, creeping in. Please consult an independent qualified investment advisor before taking investment decisions. This mail is not sent unsolicited, and only advisory in nature. We have accepted no consideration from any company mentioned above and recommend taking decisions on merits of the stocks from our viewpoint. This email is being sent to you as a paid subscriber. Please protect your interests and ours by not disclosing the contents to any un-authorised person/s
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