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Mid-cap stocks of the week Dec 19, 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. |
Amtek Auto - this scrip is being recommended for the first time in this edition and has been selected on account of a very high relative strength of 1825 ( 100 = base ) as compared to the BSE Sensex. The scrip is in a bull grip and the chart pattern shows a higher tops and bottoms formation in progress. Technical analysts will note that the 165 levels are a short term base from where the scrip has risen and is a good entry point from fresh entry for the patient investor. Since a significant run upwards has already occurred, we suggest a small / medium exposure on this counter.
Your call of action - Buy on declines to the 165 levels and hold with a stop loss at the 150 mark. Expect to book profits at the 200 + levels in the short / medium term. Longer term investors may expect higher levels by the budget.
Amtek auto I Apollo Hospitals I Gujarat Alkali I MICO I OMAX Auto I Rico Auto I Shree Cements I Midcap index I Top I Close window I Print page
Apollo Hospitals - this scrip was recommended earlier in our edition dtd Nov 21 2004 and has retraced marginally since then. Click here to view the previous files. Technical analysts will note that the higher tops and bottoms formation remains intact, the scrip receives excellent support at the medium term SMA's and the high relative strength of 693 ( 100 = base ) is an added attraction. We recommend a hold on exiting positions and a buy on declines for the patient investor.
Your call of action - Buy on declines to the 240 - 245 levels and hold with a stop loss at the 225 levels. We expect 300 + levels in a few months period.
Amtek auto I Apollo Hospitals I Gujarat Alkali I MICO I OMAX Auto I Rico Auto I Shree Cements I Midcap index I Top I Close window I Print page
Gujarat Alkali - this scrip was frequently recommended by us since it traded at Rs 60 levels vide our editions dtd July 18, Aug 15, Sept 25, Oct 09 and Oct 30, 2004. Click here to view the previous files. This scrip has returned fantastic profits to our investors and we feel there exists further scope for appreciation. The scrip is turning into a market out-performer from an under performer and the 98 - 100 levels are a good floor for the scrip where support exists. We recommend a buy on the scrip on declines.
Your call of action - Buy at lower levels of 100 and hold with a stop loss at the 91 levels. We expect profit taking at the 125 - 135 levels by budget in a conducive market scenario.
Amtek auto I Apollo Hospitals I Gujarat Alkali I MICO I OMAX Auto I Rico Auto I Shree Cements I Midcap index I Top I Close window I Print page
MICO - this MNC auto ancillary major is one of the must haves in the segment and shows extremely high relative strength of 313 ( 100 = base ). The scrip is near it's lifetime highs and shows a higher tops and bottoms formation. We expect a consolidation in the coming days and then a fresh upmove which is likely to propel the scrip into record highs. We maintain a long term buy on the counter.
Your call of action - Buy on marginal declines to the 1825 - 1850 levels and hold with a liberal stop loss at the 1650 levels. Expect profit taking at the 2000 + levels by budget and 2250 - 2325 in the coming 12 months.
Amtek auto I Apollo Hospitals I Gujarat Alkali I MICO I OMAX Auto I Rico Auto I Shree Cements I Midcap index I Top I Close window I Print page
Omax Auto - this scrip was recommended at the 90 levels in our daily editions in Oct 04. The recommendation was re-inforced vide our edition dtd Dec 12, 2004. Click here to view the previous files. This scrip has appreciated significantly and justified our optimism on the counter. Technical analysts will note that the counter trades near it's lifetime highs and is showing high degree of strength. This counter enjoys a very high relative strength of 1045 levels ( 100 = base ) and is a buy on declines.
Your call of action - Hold the existing positions and buy on declines to the 110 levels. Hold with a stop loss at the 98 levels and expect to book profits at the 150 + levels in the short / medium term.
Amtek auto I Apollo Hospitals I Gujarat Alkali I MICO I OMAX Auto I Rico Auto I Shree Cements I Midcap index I Top I Close window I Print page
Rico Auto - This scrip is recommended for the first time in this edition and is another high relative strength counter which has shown sterling performance in the past. Currently trading at it's lifetime highs, the counter has a RCS of 975 ( 100 = base ) and is a buy on declines only. Technical analysts will notice the bar reversal which indicates consolidation / correction in the coming weeks ahead. Buy on declines only.
Your call of action - buy on declines to the 500 mark and hold with a stop loss at the 450 levels. Expect to book profits at the 575 - 600 levels in the short / medium term.
Amtek auto I Apollo Hospitals I Gujarat Alkali I MICO I OMAX Auto I Rico Auto I Shree Cements I Midcap index I Top I Close window I Print page
Shree Cements - this scrip was recommended recently vide our newsletter dtd Dec 05, 2004. Click here to view the previous files. The scrip has a high relative strength of 420 ( 100 = base ) and is one of the strongest cement counters in the market. Technical analysts will note how the counter makes higher tops and bottoms formation and derives good support at the short / medium term SMA's. We recommend a buy on all declines.
Your call of action - Buy on declines to the 220 - 225 levels and hold with a stop loss at the 200 mark. Expect profit taking at the 300 + levels in the medium / long term.
Amtek auto I Apollo Hospitals I Gujarat Alkali I MICO I OMAX Auto I Rico Auto I Shree Cements I Midcap index I Top I Close window I Print page
CNX Mid-cap Index - the midcap index shows a tremendous strength and has completed a flag formation which we have advocated in the past. Our target of 2350 has been completed and we feel the index is headed for the 2550 levels in a few weeks.
Your call of action - .
Amtek auto I Apollo Hospitals I Gujarat Alkali I MICO I OMAX Auto I Rico Auto I Shree Cements 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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