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Mid-cap stocks of the week July 16, 2005
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. |
Asahi India - This scrip was recommended earlier vide our newsletter dtd Jan 08 & 15, March 05 & 19 and May 07 2005. Click here to view the previous recommendations. This scrip has consolidated for 7 weeks and is showing signs of revival again. A conclusive close above the 185 mark with higher volumes for atleast 3 sessions will be a confirmatory trigger. The oscillators are pointing towards a bullish outlook and we feel the scrip is in the second leg of the upmove that can test the 210 - 215 levels in the short / medium term. We recommend a buy.
Your call of action - Buy at the current level and leave room for pyramid style averaging till the 170 mark. Maintain a stop loss at the 160 levels and expect to take profits at the 210 - 215 levels in the medium term.
Asahi India I City Union Bank I Exide Inds I GSFC I Hind Motors I Indus Ind Bank I Mc Millan I Neyveli Lignite I Tata Elxsi I Trent I West Coast Paper I Top I Close window I Print page
City Union Bank - we initiate coverage of this scrip with a bullish outlook as the counter shows rising tops and bottoms formation albeit on lower volumes. The high relative strength of 162 vis-a-vis the Nifty ( where 100 = base ) is confidence inspiring. The moving averages are pointing higher and we recommend a buy as the 100 threshold is a resistance above which the scrip tests the lifetime high on a closing basis. Buy above the confirmatory close.
Your call of action - By above a confirmatory close over the 100 threshold and hold with a stop-loss at the 90 level. Expect to book profits at the 114 - 116 in the short term and 124 in the medium term.
Asahi India I City Union Bank I Exide Inds I GSFC I Hind Motors I Indus Ind Bank I Mc Millan I Neyveli Lignite I Tata Elxsi I Trent I West Coast Paper I Top I Close window I Print page
Exide Inds - This scrip was recommended vide our earlier edition dtd. June 11, 2005. Click here to view the previous recommendations. The stock has managed to breakout above the 175 threshold ( lifetime high ) and we feel a consistent close above this level with higher volumes will confirm the accelerated upmove. The high relative strength of 281 vis-a-vis the Nifty ( where 100 = base ) is confidence inspiring and we recommend a buy.
Your call of action - buy above a consistent close over the 175 levels and hold with a stop loss at the 161 levels. Expect to book profits at the 200 - 210 levels in the short / medium term.
Asahi India I City Union Bank I Exide Inds I GSFC I Hind Motors I Indus Ind Bank I Mc Millan I Neyveli Lignite I Tata Elxsi I Trent I West Coast Paper I Top I Close window I Print page
GSFC - we initiate coverage of this scrip with a bullish outlook and we advocate a buy a this counter along with Chambal fertilisers for the patient traders. Technical traders may note that the closing has been at 10 year highs. The moving averages are rising and the price is likely to see an accelerated upmove above the 135 levels. We recommend a buy above a confirmatory close over the 135 levels with higher volumes.
Your call of action - Buy above the 135 levels and hold with a stop loss at the 116 mark and expect to book profits at the 155 - 160 mark in the medium term.
Asahi India I City Union Bank I Exide Inds I GSFC I Hind Motors I Indus Ind Bank I Mc Millan I Neyveli Lignite I Tata Elxsi I Trent I West Coast Paper I Top I Close window I Print page
Hind Motors - This scrip was recommended earlier vide our newsletter dtd June 04, 2005. Click here to view the previous recommendations. The scrip is is a momentum play and the previous top of 39 is likely to be the threshold above which the stock may see accelerated upmoves. The oscillators are pointing towards a bullish picture and the rally is on higher volumes and rising relative strength. We recommend a buy for the high risk / high return players.
Your call of action - Buy at the current levels and hold with a stop loss at the 31.50. Expect profit taking at the 43 - 45 levels in the short / medium term in a conducive market scenario.
Asahi India I City Union Bank I Exide Inds I GSFC I Hind Motors I Indus Ind Bank I Mc Millan I Neyveli Lignite I Tata Elxsi I Trent I West Coast Paper I Top I Close window I Print page
Indus Ind Bank - This scrip was recommended vide our editions dtd May 28, June 04 & 25 and July 09, 2005.Click here to view the previous recommendations. This scrip is in the second leg of the upmove and is likely to see a retracement to the 67 levels in case the fall is extended. We feel the rally is is on higher volumes and oscillator support, so declines are buying opportunities.
Your call of action - hold existing long positions and add new longs at lower levels of 67. Hold with a stop loss at the 64 and expect to book profits at the 82 - 84 levels.
Asahi India I City Union Bank I Exide Inds I GSFC I Hind Motors I Indus Ind Bank I Mc Millan I Neyveli Lignite I Tata Elxsi I Trent I West Coast Paper I Top I Close window I Print page
Mc Millan - This scrip was recommended earlier vide our newsletter dtd June 11, 2005. Click here to view the previous recommendations. We feel the breakout above the 455 levels is a confirmatory buy signal as the closing is at lifetime highs and the relative strength of 109 vis-a-vis the Nifty ( where 100 = base ) is a bullish sign. Traded volumes need to improve significantly to signal higher retail participation. A buy is recommended for the long term / patient investor.
Your call of action - buy on minor declines to the 450 - 455 levels and hold with a stop-loss at the 435 mark. Expect to book profits at the 540 mark in the medium term.
Asahi India I City Union Bank I Exide Inds I GSFC I Hind Motors I Indus Ind Bank I Mc Millan I Neyveli Lignite I Tata Elxsi I Trent I West Coast Paper I Top I Close window I Print page
Neyveli Lignite - This scrip was recommended vide our earlier editions dtd July 09, 2005. Click here to view the previous recommendations. This scrip has performed as per our expectations and is likely to out-perform the indices in the near term as the chart pattern is indicating a higher tops and bottoms formation. The traded volumes are rising and the oscillators are supporting the upmove. The scrip has attained a lifetime high and is likely to test the three digit mark in the medium term. A buy is recommended.
Your call of action - Buy at 80 levels and average lower in pyramid style till the 73 mark. Maintain a stop loss at the 68 levels and expect to book profits at the 100 + levels in the medium term.
Asahi India I City Union Bank I Exide Inds I GSFC I Hind Motors I Indus Ind Bank I Mc Millan I Neyveli Lignite I Tata Elxsi I Trent I West Coast Paper I Top I Close window I Print page
Tata Elxsi - This scrip was recommended vide our earlier editions dtd July 09, 2005. Click here to view the previous recommendations. This scrip has risen to the 6 year highs and is exhibiting a rounding bottoms and tops formation. The recent rally has been higher volumes and with oscillator support. The high relative strength of 456 vis-a-vis the Nifty ( where 100 = base ) is confidence inspiring. We recommend a buy on the counter for the discerning investor.
Your call of action - buy at the 200 levels and hold with a stop loss at the 185 levels. Expect to book profits at the 240 mark in the medium term.
Asahi India I City Union Bank I Exide Inds I GSFC I Hind Motors I Indus Ind Bank I Mc Millan I Neyveli Lignite I Tata Elxsi I Trent I West Coast Paper I Top I Close window I Print page
Trent - This scrip was recommended vide our earlier editions dtd May 21 & 28, June 04, 18 & 25 and July 02 & 09, 2005. Click here to view the previous recommendations. The scrip is falling on lower volumes and we feel a fall to the 600 mark is a buying opportunity for the long term investor. The high relative strength of 250 vis-a-vis the Nifty ( where 100 = base ) is a sign of strength and the chart indicates bullishness. Buy on declines.
Your call of action - Buy on declines to the 620 - 625 levels and leave room for averaging in pyramid style till the 590 levels. Hold with a stop loss at the 568 mark and expect profit taking at the 700 + levels in the short / medium term.
Asahi India I City Union Bank I Exide Inds I GSFC I Hind Motors I Indus Ind Bank I Mc Millan I Neyveli Lignite I Tata Elxsi I Trent I West Coast Paper I Top I Close window I Print page
West Coast Papar - This scrip was recommended earlier vide our newsletter dtd July 02 and July 09, 2005 and has appreciated handsomely since then. Click here to view the previous recommendations. The breakout above the 250 levels has been a positive buy trigger and on higher volumes and oscillator support. The relative strength is increasing and the scrip is proving to be a market out-performer. We recommend a hold on existing positions and buy on declines.
Your call of action - buy on declines to the 260 levels and average lower till the 240 mark. Maintain a stop loss at the 220 mark. Expect profit taking at the 325 - 345 levels in the medium term.
Asahi India I City Union Bank I Exide Inds I GSFC I Hind Motors I Indus Ind Bank I Mc Millan I Neyveli Lignite I Tata Elxsi I Trent I West Coast Paper 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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