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Mid-cap stocks of the week Nov 21, 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. |
Apollo Hospitals - This scrip is in a strong uptrend as the chart pattern shows a higher tops and bottoms formation. The relative strength indicator reads 724 ( 100 = base ) and the oscillators show a bullish undertone. We recommend a buy on declines for the patient investors.
Your call of action - Buy on significant declines to the 225 - 230 levels and hold with a stop loss at the 200 levels. Expect to book profits at the 275 + levels in a few months in a conducive market.
Apollo Hospitals I Asian Hotels I Bombay Dyeing I Bharat Forge I Merck I Mico I Premier instrument I Siemens I Midcap index I Close window I Print page
Asian Hotels - This scrip was recommended vide our newsletters dated Oct 03 & Oct 31, 2004. Click here to view the previous files. This hotels and hospitality scrip is in an uptrend and a strong market out-performer as the relative strength oscillator shows. The sectoral charts show a strong undertone and this scrip is one of the leading contenders in the segment. We recommend a buy on declines for the patient investor.
Your call of action - Buy on declines to the 260 - 265 levels, leaving some room for averaging lower up to the 245 levels. Maintain a stop loss at the 220 levels and expect to book profits at the 320 - 330 levels in a few months.
Apollo Hospitals I Asian Hotels I Bombay Dyeing I Bharat Forge I Merck I Mico I Premier instrument I Siemens I Midcap index I Close window I Print page
Bombay Dyeing - This textiles major was recommended in our earlier editions dtd Oct 03 & Oct 17, 2004 and has performed exceedingly well. Click here to view the previous files. The scrip has exhibited a classic flag formation after a close above the 160 levels was achieved. Being a measuring move, a possible target of 250 maybe expected in a few months time. Buying is recommended in small lots only.
Your call of action - Buying is recommended at the 175 levels and a stop loss be maintained at the 160 levels. Expect profit taking at the 220 levels in the near term. Patient investors may expect higher levels over the longer term.
Apollo Hospitals I Asian Hotels I Bombay Dyeing I Bharat Forge I Merck I Mico I Premier instrument I Siemens I Midcap index I Close window I Print page
Bharat Forge - This auto mobile component supplier is a very strong market out-performer with a relative strength reading of 755 ( 100 = base ) and is showing signs of strength after a corrective fall to the 52 week SMA. That confirms the bullish trend on the counter. A breakout above the 890 levels will be a confirmation of the resumption of the uptrend. Buying is recommended upon that confirmatory rally.
Your call of action - Buy above the 890 mark and hold with a stop loss at the 830 mark. Expect to book profits at the 975 / 985 levels in the medium term in a firm market
Apollo Hospitals I Asian Hotels I Bombay Dyeing I Bharat Forge I Merck I Mico I Premier instrument I Siemens I Midcap index I Close window I Print page
Merck - This pharma scrip is in a major uptrend as the chart shows a clear rising tops and bottoms formation. The relative strength indicator shows a reading of 305 ( 100 = base ) and a bullishness in the undertone on the oscillators. The 52 week SMA is a very strong support since a 20 month phase and that makes the scrip a relatively safer investment for the patient investor. We recommend a buy on declines.
Your call of action - Buy on declines to the 480 levels and average lower till the 460 levels. Maintain a liberal stop loss at 440 levels. Expect to book profits at above 600 levels in a few months in a conducive market.
Apollo Hospitals I Asian Hotels I Bombay Dyeing I Bharat Forge I Merck I Mico I Premier instrument I Siemens I Midcap index I Close window I Print page
Mico - This scrip was recommended in our earlier edition Dtd Oct 31 and Nov 07, 2004. Click here to view the previous files. The stock is a very strong candidate in the auto ancillary segment and a must have in every investors portfolio with a medium / long term perspective. The scrip boasts of a high relative strength and is a buy on every major decline.
Your call of action - Buy on every decline, especially if the scrip declines to the 1775 levels. Hold with a liberal stop loss at the 1700 mark. Existing positions maybe held with a similar stop loss too. Expect to book profits above the 2000 mark in the near / medium term. Long term investors will reap superlative gains barring unforeseen circumstances.
Apollo Hospitals I Asian Hotels I Bombay Dyeing I Bharat Forge I Merck I Mico I Premier instrument I Siemens I Midcap index I Close window I Print page
Premier Instruments - This scrip was recommended in our edition dtd Nov 07, 2004 and has appreciated over 10 % since then. Click here to view the previous files. The stock exhibits a high relative strength of over 500 and shows a higher tops and bottoms formation. The scrip is likely to reach the 55 - 60 mark and is a buy.
Your call of action - Buy on declines to the 45 mark and hold with a stop loss at the 37 - 38 levels. Expect a price level of 55 - 60 in the near / medium term.
Apollo Hospitals I Asian Hotels I Bombay Dyeing I Bharat Forge I Merck I Mico I Premier instrument I Siemens I Midcap index I Close window I Print page
Siemens - This scrip is a very strong market out performer and shows a classic higher tops and bottoms formation on the charts, which is a sign of strength. It maybe noted that the scrip has appreciated 300 % in the last 16 months and therefore is likely to see some consolidation / slower ascent. It is a must have in every delivery portfolio for the longer term perspective.
Your call of action - Buy on declines to the 1220 levels and hold with a stop loss at the 1125 levels. Expect profit taking at the 1400 + levels in a conducive market in the medium / long term.
Apollo Hospitals I Asian Hotels I Bombay Dyeing I Bharat Forge I Merck I Mico I Premier instrument I Siemens I Midcap index I Close window I Print page
CNX Mid-cap Index - the CNX midcap index was advocated by us as likely to test the 2200 levels a month ago and has fulfilled our bullish expectations. The index has exhibited a classic flag formation and still has steam left to test the 2400 + mark in a conducive market in the medium term. The 2120 levels will be good support in the coming week. The index is currently trading at near it's all time highs and promises another 10 % upsides.
Your call of action - expect another 10 % upmove.
- Have a profitable week.
- Vijay L Bhambwani
- Ceo :- Bsplindia.com
Apollo Hospitals I Asian Hotels I Bombay Dyeing I Bharat Forge I Merck I Mico I Premier instrument I Siemens I Midcap index I Close window I Print page
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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