These 5 midcap stocks can crash up to 26%; check full list, key levels here

Technical charts suggest that midcap stocks such as APL Apollo, Exide Industries, Grindwell Norton, Fortis Healthcare and Lupin may trade with a weak bias in the near-term.

With the Nifty MidCap index witnessing a downward breakout in recent days, here are 5 midcap cap stocks that can potentially take a knock based on the existing chart patterns.  Technical charts indicate that APL Apollo Tubes, Exide Industries, Grindwell Norton, Fortis Healthcare and Lupin are likely to trade with a weak bias in the near-term, and can potentially slide up to 26 per cent from here.  Catch Stock Market Updates Today LIVE 

APL Apollo Tubes

Current Price: ₹1,776  Downside Risk: 9.9%  Support: ₹1,727; ₹1,694; ₹1,650  Resistance: ₹1,847; ₹1,915  APL Apollo stock had recently given a breakdown on the daily scale. The near-term bias for the stock is now likely to be negative as long as the stock trades below ₹1,915 levels; with interim resistance seen at ₹1,847. On the downside, the stock may drift towards ₹1,600 levels, with interim support likely around ₹1,727, ₹1,694 and ₹1,650 levels. CLICK HERE FOR THE CHART  ALSO READ | Nifty MidCap sees breakdown, can dip 8%; SmallCap clinches to key support 

Exide Industries

Current Price: ₹376  Downside Risk: 10.4%  Support: ₹370; ₹350  Resistance: ₹389; ₹406  Exide Industries share is seen trading close to its 100-Day Moving Average (100-DMA), which stands at ₹370. Break and sustained trade below the same can trigger a fall towards ₹337, with some support likely around ₹350 levels. The near-term bias for Exide is likely to remain tepid as long as the stock sustains below ₹406, with interim resistance at ₹389. CLICK HERE FOR THE CHART 

Grindwell Norton

Current Price: ₹1,687  Downside Risk: 25.9%  Support: ₹1,540; ₹1,450; ₹1,355  Resistance: ₹1,770; ₹1,809  Grindwell Norton stock is seen testing support at its 100-DMA, which stands at ₹1,700 levels; below which near support exists at ₹1,680 - the 20-Week Moving Average (20-WMA). Sustained trade below the same can trigger a sharp fall towards ₹1,250 levels. Intermediate support for the stock can be anticipated around ₹1,540, ₹1,450 and ₹1,355 levels. The near-term bias shall be negative as long as the stock holds below ₹1,809, with near resistance seen at ₹1,770 levels. CLICK HERE FOR THE CHART  ALSO READ | BSE stock price can crash 19% as Sebi okays expiry day switch 

Fortis Healthcare

Current Price: ₹756  Downside Risk: 11.4%  Support: ₹742; ₹712  Resistance: ₹772; ₹800  Even as Fortis Healthcare stock continues to trade favourably as per the price-to-moving averages action, key momentum oscillators on the daily scale have witnessed a negative crossover; hence the stock may face some downward pressure going ahead. As such, the stock may slip to ₹712; below which a dip to ₹670 seems likely. Near support for the stock exists at ₹742. Resistance on the upside can be expected around ₹772 and ₹800. CLICK HERE FOR THE CHART 

Lupin

Current Price: ₹1,934  Downside Risk: 11.1%  Support: ₹1,920; ₹1,860; ₹1,800  Resistance: ₹1,980; ₹2,020; ₹2,070  Lupin Share is seen trading close to the lower-end of the Bollinger Bands on the daily chart, which indicates support around ₹1,920 levels. Break and sustained trade below the same can trigger a dip towards ₹1,720 levels, with interim support likely around ₹1,860 and ₹1,800 levels. On the upside, the stock is likely to face resistance around ₹1,980, ₹2,020 and ₹2,070 levels. CLICK HERE FOR THE CHART