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Mid-cap stocks of the week July 31, 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. |
Essel Propack - this scrip has been recommended earlier and is on track as per our expectations. Currently in the second wave of it's upmove, the scrip is moving up on higher volumes and positive confirmation from it's oscillators. The outlook remains bullish and we recommend a buy on all declines.
Your call of action - Buy at lower levels of 335 - 340 and leave room for pyramid averaging till the 320 mark. Maintain a stop loss at the 300 mark and expect to book profits at the 410 + levels in the medium term.
Essel Propack I Exide Inds I Guj Gas I Indus Ind Bank I LMW I Top I Close window I Print page
Exide Inds - this scrip has been recommended frequently at lower levels and the previous weeks rally on big volumes asserts our bullish expectations from this counter. A high relative strength of 291 vis-a-vis the Nifty ( where 100 = base ) and positive oscillator confirmation are additional triggers for bulls. We recommend a buy on declines and hold on existing long positions.
Your call of action - Buy on declines to the 175 - 180 levels and average lower till the 160 mark. A stop loss at the 145 levels is advisable and profit taking advocated at the 250 in the medium term. Longer term players may expect higher levels.
Essel Propack I Exide Inds I Guj Gas I Indus Ind Bank I LMW I Top I Close window I Print page
Guj Gas - veteran investors of bsplindia will recollect our buy recommendation at the 700 levels from where a big rally has occurred. Barring the relatively poor volumes, the scrip enjoys multiple positive triggers - very high relative strength of 339 vis-a-vis the Nifty ( where 100 = base ) and positive confirmation from the oscillators. The previous top at the 1040 levels will be the immediate resistance level and once this hurdle is surpassed, expect a major upmove in the ensuing 24 months. This scrip is a must have in every long term investors portfolio.
Your call of action - buy at current levels and keep room for pyramid averaging lower till the 850 mark. Maintain a stop loss at the 800 levels and expect to book profits at the 1,250 + 12 - 15 months time frame.
Essel Propack I Exide Inds I Guj Gas I Indus Ind Bank I LMW I Top I Close window I Print page
Indus Ind Bank - this scrip has been recommended on multiple occasions in the past and is living up to our bullish expectations. The rally of 10 % since our first recommendation has been achieved on higher volumes, oscillator support and increasing relative strength, though the RSC reading is still below the 100 par level vis-a-vis the Nifty. We recommend a buy on all declines and hold on existing long positions.
Your call of action - Buy on lower levels of 74 and average downwards till the 69 mark. A stop loss is advocated at the 66 levels and a profit target of 85 is projected in the short / medium term. Over a longer time frame, higher levels maybe expected.
Essel Propack I Exide Inds I Guj Gas I Indus Ind Bank I LMW I Top I Close window I Print page
LMW - this is another recent recommendation ( the latest was last week ) that has performed well. The only drawback being a poor liquidity scenario, one cannot buy sufficient shares in one trading session. We feel the scrip has appreciation left in it and recommend a hold on existing long positions and a buy on declines. Note the positive confirmation from the oscillators and rising relative strength which will augur well for the bulls in the coming months.
Your call of action - hold existing long positions and add on declines to the 11,000 mark. Leave room for downward averaging till the 10,000 mark and maintain a stop loss at the 9,400 levels. Expect profit taking at the 14,000 levels in 18 - 24 months time frame on a conservative basis.
Essel Propack I Exide Inds I Guj Gas I Indus Ind Bank I LMW 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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