Vaibhav Global, Caplin Point: 5 midcap stocks that can rise 10% from here

Midcap stocks are showing a healthy momentum. Select stocks are set to rise even more. Here are a few that look good on the technical charts and can move up by 10% in the coming sessions

Alembic Pharmaceuticals Ltd (APLLTD): The medium-term outlook turned bullish the moment this counter conquered Rs 800 level decisively. The downside remains protected given the strong support at Rs 730 levels. The immediate support comes at Rs 825 on closing basis with trend indicating a rally towards Rs 980 and Rs 1025 levels. The Relative Strength Index (RSI) has fallen below the oversold condition, yet the price is not showing that severe correction. This indicates an inherent strength in the stock.  With an inverse head and shoulder on the RSI, the stock may be ready for the next leg of the upside. CLICK HERE FOR THE CHART

 

Vaibhav Global Ltd (VAIBHAVGBL): This counter scaled a new lifetime high and managed to hold the upward momentum accordingly. The stock has doubled in less than three months from a low of Rs 550 in March 2020. Going forward, till it trades above Rs 1,140 on closing basis, the upside momentum remains intact and the stock may hit Rs 1,400 levels. CLICK HERE FOR THE CHART

 

TV18 Broadcast Ltd (TV18BRDCST): This stock needs to above Rs 30 for a few more sessions. If that happpens, a rally towards Rs 38 and Rs 42 cannot be ruled out from a medium-term perspective. It did scale 100-weekly moving average (WMA) and 50- (WMA) successfully and this pushed price further. The Moving Average Convergence Divergence (MACD) has crossed the zero line upward, a sign of a positive momentum as per the weekly chart. CLICK HERE FOR THE CHART

  

Rallis India Ltd (RALLIS): Lately, the counter has seen a sell-off above Rs 240 levels and this selling pressure has resulted in a deeper fall. Again the counter is marching towards Rs 240 levels and the volume structure remains stable. A 'flag pattern' has induced a buying momentum. The support comes at Rs 230 with strong buying to resume above Rs 260 levels. The overall trend indicates a rally towards Rs 285 to Rs 290 levels in the sessions ahead. CLICK HERE FOR THE CHART

  

Caplin Point Laboratories Ltd (CAPLIPOINT): A perfect “Inverse head and shoulder” with a breakout above Rs 360 levels has been formed. The stock looks set to hit Rs 448 and Rs 460 in the near-term. The volume, too, has risen sharply on a breakout, suggesting buyers are accumulating this stock. The support remains at Rs 380 on a closing basis. The overall trend indicates bullishness that may induce more buying momentum. CLICK HERE FOR THE CHART