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Mid-cap stocks of the week July 23, 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. |
Apollo Hospitals - this scrip was recommended vide our earlier editions dtd. Feb 05, March 05 and July 02, 2005. Click here to view the previous recommendations. The scrip has appreciated as per our expectations and is in an uptrend. The traded volumes continue to languish as is apparent from the graphic below. The oscillators are confirming the uptrend and the outlook remains positive as the 350 threshold has been surpassed with convincing volumes. We maintain our bullish view and recommend a buy on declines.
Your call of action - buy at the 350 - 355 levels and hold with a stop loss at the 320 levels. Expect to book profits at the 395 - 410 in the medium in a conducive market. Long term players may expect higher levels.
Apollo Hospitals I Elgi Equipments I GSFC I Hind Motors I L.M.W. I Trent I Tube Investments I West Coast Paper I Top I Close window I Print page
Elgi Equipment - This scrip has risen out of a congestion band after trading above the 54 - 55 levels. The rally is accompanied by higher traded volumes and confirmation from the momentum oscillators. The 60 levels will be a critical resistance as the scrip has retraced from this level thrice in 14 months. A convincing breakout above this level with heavy volumes will see a fresh round of bullishness. We recommend a buy after a confirmed breakout is achieved.
Your call of action - Buy after the 60 threshold is surpassed with heavy volumes and hold with a stop loss at the 50 levels. Expect to book profits at the 74 mark in the medium term. Long term investors may expect higher levels.
Apollo Hospitals I Elgi Equipments I GSFC I Hind Motors I L.M.W. I Trent I Tube Investments I West Coast Paper I Top I Close window I Print page
GSFC - this scrip was recommended vide our earlier editions dtd. July 16, 2005. Click here to view the previous recommendations. The fertiliser sector is in a bull grip for now and we feel the uptrend may last a few more weeks. GSFC is trading above the congestion levels of 130 and needs to sustain above this level to remain bullish. The traded volumes have risen and the oscillators are supporting the upmove. We recommend a buy in small lots.
Your call of action - Buy above the 135 levels and hold with a stop-loss at the 123 levels. Expect to book profits at the 150 - 155 levels in the short / medium term.
Apollo Hospitals I Elgi Equipments I GSFC I Hind Motors I L.M.W. I Trent I Tube Investments I West Coast Paper I Top I Close window I Print page
Hind Motors - this scrip was recommended vide our earlier editions dtd. June 04 and July 16, 2005. Click here to view the previous recommendations. The scrip is a momentum play and is rallying with convincing volumes. The breakout above the 41 levels is a sign of strong upward momentum as the previous top was tested. The same was achieved on higher volumes and positive oscillator movement. We feel higher risk appetite players may buy at the current levels and maintain a deep stop loss. This stock may well turn out to be a wildcard / dark horse.
Your call of action - Buy at the current levels and hold with a stop loss at the 33 levels. Expect to book profits at the 52 levels in the medium term. Patient long term investors may get higher levels in the long term if the markets remain conducive for the sector.
Apollo Hospitals I Elgi Equipments I GSFC I Hind Motors I L.M.W. I Trent I Tube Investments I West Coast Paper I Top I Close window I Print page
L.M.W. - this scrip was recommended vide our earlier editions dtd. May 14 and 28, 2005 and has lived up to our bullish expectations. Click here to view the previous recommendations. This relatively illiquid counter is for the die hard investor only and it is virtually impossible to accumulate large quantities due to the low floating stock and high impact costs. Though the traded volumes are improving, and the oscillators are pointing towards a bullish outlook, we feel investors should aim on buying on declines to cut the possibility of sharp price swings in the downward direction due to poor liquidity, especially in case of a corrective fall in the markets.
Your call of action - attempt to make fresh purchases at the 10500 onwards and average downwards till the 10,000 mark. Maintain a stop loss at the 9460 level and expect to book profits at the 12800 in a years time.
Apollo Hospitals I Elgi Equipments I GSFC I Hind Motors I L.M.W. I Trent I Tube Investments 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 & 27 and July 02, 09 and 16, 2005 and has rewarded bullish traders adequately. Click here to view the previous recommendations. We feel the consolidation in progress on this counter is a healthy occurrence and will provide a fresh entry point for the patient traders and investors. The traded volumes ( which are relatively poor ) are improving and that is a heartening indicator. The 620 - 630 levels will provide a good entry for fresh buying in small lots. Pyramid style averaging is advocated on this scrip till the 560 levels.
Your call of action - buy on declines to the 620 - 625 levels and average lower till the 560 mark - if these levels are attained. Maintain a stop loss at the 540 levels and expect to book profits at the 740 - 750 in the medium term. Long term players may expect higher levels.
Apollo Hospitals I Elgi Equipments I GSFC I Hind Motors I L.M.W. I Trent I Tube Investments I West Coast Paper Top I Close window I Print page
Tube Investments - this scrip was recommended vide our earlier editions dtd. Oct 30 & Nov 06, 2004 and June 04, 2005 the scrip has yielded superlative profits for the patient investors / traders and is back on our radar screen. Click here to view the previous recommendations. Of late, the traded volumes are picking up and the classic text book style higher tops and bottoms formation is showing a consolidation at the 300 mark. Fresh buying is recommended at the 315 levels and pyramid style averaging till the 290 levels is suggested. A sustained breakout above the 375 levels is likely to take the scrip into an accelerated upmove phase. This scrip is for the patient and disciplined investors only.
Your call of action - Buy at the current levels and keep averaging lower in pyramid formation till the 290 mark. A stop loss at the 270 levels is advisable and profit taking at the 450 levels is projected in a 12 month time frame.
Apollo Hospitals I Elgi Equipments I GSFC I Hind Motors I L.M.W. I Trent I Tube Investments I West Coast Paper Top I Close window I Print page
West Coast Paper - this scrip was recommended vide our earlier editions dtd. July 02, 09 & 16, 2005 and has proved to be and excellent pick. Click here to view the previous recommendations. The chart pattern shows a strong breakout above a 22 month old resistance - amidst high volumes and positive support from the oscillators. We feel a corrective fall on this counter is a good entry point for the patient investor / trader.
Your call of action - buy on declines to the 260 - 265 levels and average lower till the 245 levels. Maintain a stop loss at the 230 levels and expect to book profits at the 340 levels in the medium term.
Apollo Hospitals I Elgi Equipments I GSFC I Hind Motors I L.M.W. I Trent I Tube Investments I West Coast Paper 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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