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Mid-cap stocks of the week Mar 20, 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 Hospital - this scrip was recommended vide our earlier editions dtd. Nov 21 2004, Feb 06 & March 06 2005. Click here to view the previous recommendations and has appreciated handsomely since the first recommendation. The stock is moving higher with a measured consistency and a higher tops and bottoms formation. The high relative strength of 431 ( where 100 = base ) is encouraging and the oscillators are in a buy mode. We advocate a hold on existing positions and a buy on declines.
Your call of action - Buy on declines to the 335 - 340 levels and hold with a stop loss at the 300 levels. Expect to book profits at the 425 / 440 levels in a few months time frame in a conducive market scenario.
Apollo Hosp I Amtek Auto I Asahi India I CESC I Guj Gas I Kirl Oil I LG Bala I Prem Instr I Midcap index I Top I Close window I Print page
Amtek Auto - this scrip was recommended vide our edition dtd Nov 07, Dec 19 2004 & Feb 13 2005 and has been a market performer since then. Click here to view the previous recommendations. The stock is consolidating with the 190 levels proving to be a formidable hurdle in the near term. Technical traders may note the high relative strength ( at 2200, where 100 = base ) and the rising tops and bottoms formation since the last 24 months. The 30 week SMA is likely to be a good support in the near / medium term and buying can be initiated at those levels with a room to average downwards for the medium / long term investors.
Your call of action - buy on declines to the 150 - 155 levels and leave room for averaging till 140 levels. Hold with a stop loss at the 130 levels and expect profit taking at the 200 + levels in the medium term.
Apollo Hosp I Amtek Auto I Asahi India I CESC I Guj Gas I Kirl Oil I LG Bala I Prem Instr I Midcap index I Top I Close window I Print page
Asahi India - this often repeated market out-performer was recommended vide our earlier editions dtd Dec 12 2004, Jan 01, 09 & 16 and March 06 2005. The scrip has been a profitable call for bulls. Click here to view the previous recommendations. The high relative strength of 240 + ( where 100 = base ) and a rising tops and bottoms formation is a confidence inspiring aspect of this scrip. The oscillators are pointing towards a consolidation / correction as the 190 levels are proving to be a strong resistance. Support is likely to be seen at the 160 levels where investors can start nibbling into the scrip with a medium / long term perspective.
Your call of action - start buying at / below the 160 levels with a view to average till the 140 mark. Maintain a stop loss at the 125 levels and expect to book profits at the 200 + levels in a few months time frame.
Apollo Hosp I Amtek Auto I Asahi India I CESC I Guj Gas I Kirl Oil I LG Bala I Prem Instr I Midcap index I Top I Close window I Print page
CESC - this power company has been recommended often since the price was at / below 120 levels. The previous reco dates were Sept 05 & 19, Oct 03 & 10, Dec 01 2004 and Feb 06 2005. Click here to view the previous recommendations. After hitting the 225 + levels, the scrip has witnessed a sharp correction and is likely to face some consolidation in the near term. The scrip is rapidly gaining relative strength and is likely to witness support at the 13 week SMA which is where we recommend a buy for the patient investor trader.
Your call of action - start buying near the 170 - 175 levels and leave room for averaging till the 145 mark with a stop loss at the 135 levels. Expect to book profits at the 250 + levels in a few months in a firm market.
Apollo Hosp I Amtek Auto I Asahi India I CESC I Guj Gas I Kirl Oil I LG Bala I Prem Instr I Midcap index I Top I Close window I Print page
Gujrat Gas - this MNC gas major ( British Gas parentage ) is showing an impressive chart pattern where the monthly chart shows a breakout from a downward sloping 35 month long channel. The 625 levels are a major floor for the counter and the immediate support is at the 725 - 730 level. The oscillators are supporting the upmove and we recommend a buy on all significant declines for the patient and disciplined long term investor for superlative returns.
Your call of action - start buying on declines from the 775 levels and average all the way down in a pyramid formation till the 675 levels. Maintain a stop loss at the 645 and a price target of 1000 + in 15 - 18 months.
Apollo Hosp I Amtek Auto I Asahi India I CESC I Guj Gas I Kirl Oil I LG Bala I Prem Instr I Midcap index I Top I Close window I Print page
Kirl Oil Engines - this scrip was recommended vide our earlier edition dtd. Jan 09 2005. Click here to view the previous recommendations. Technical traders may note the high relative strength of 567 ( where 100 = base ) and the scrip near a new trading zone where almost no resistance is likely. A confirmatory breakout above the 455 and a sustained closing above this level is likely to be a buy trigger.
Your call of action - buy once the scrip closes above the 455 levels consistently and hold with a stop loss at the 385 levels. Expect to book profits at the 525 - 550 levels in a good market in a few months time frame.
Apollo Hosp I Amtek Auto I Asahi India I CESC I Guj Gas I Kirl Oil I LG Bala I Prem Instr I Midcap index I Top I Close window I Print page
LG Balakrishnan - this small priced stock is showing a good strength on the charts as the scrip has been a 7 bagger in the last 2 years and is gaining relative strength on the charts. The oscillators are supportive of an upmove and we recommend a buy on declines for the patient investors.
Your call of action - start buying at the 28 / 29 levels and hold with a stop loss at the 24 / 25 levels. Expect to book profits at the 38 - 40 levels in a few months time in a firm market.
Apollo Hosp I Amtek Auto I Asahi India I CESC I Guj Gas I Kirl Oil I LG Bala I Prem Instr I Midcap index I Top I Close window I Print page
Premier Instruments - this auto ancillary stock was frequently recommended since it traded around 40 levels vide our earlier editions dtd Nov 07, 21 & 27 2004, Jan 01 and Feb 06 2005. The scrip has been a superlative performer since then. Click here to view the previous recommendations. The corrective fall is a healthy entry level for investors who missed out the opportunity to invest in this scrip and we recommend a buy on declines. Technical traders may note the high relative strength of 193 ( where 100 = base ).
Your call of action - buy on significant declines to the 45 - 47 levels and hold with a liberal stop loss at the 40 - 41 levels. Expect profit taking at the 60 + levels in a conducive market in a few months.
Apollo Hosp I Amtek Auto I Asahi India I CESC I Guj Gas I Kirl Oil I LG Bala I Prem Instr I Midcap index I Top I Close window I Print page
CNX Mid-cap Index - this benchmark is a clear out-performer of the broader markets and is showing a minor retracement after hitting a new all time high. The index makes a rising top and bottoms formation and derives strong support at it's 13 week SMA. The current reading of the same is at the 2675 levels and rising. We feel a 100 point fall would signal a fresh buy on this index ( though that would be an academic recommendation ).
Your call of action - n/a.
Apollo Hosp I Amtek Auto I Asahi India I CESC I Guj Gas I Kirl Oil I LG Bala I Prem Instr I Nine I Ten I Eleven I Twelve I Thirteen I Fourteen I Fifteen I Midcap index I Top IClose 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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