VIP Ind, NBCC: 5 small-caps to accumulate despite indices staying fragile

Selective small-cap stocks may rally up to 25 per cent, as per their respective charts

Selective small-cap stocks are relatively outperforming the key benchmark indices, despite underlying sentiment turning sour. The BSE Sensex and Nifty 50 have corrected over 3.50 per cent from their respective highs, clichéd in the recent sessions, implicating turn around scenario.    

Amber Enterprises India, for instance, has reached a new 52-week, while UCO Bank and the Central Bank of India claimed fresh 6-month peaks.

Likewise, V.I.P. Industries and NBCC (India) are firmly holding their ground over key support areas. 

Here’s the technical outlook of small-cap stocks displaying resilient sentiment:-

V.I.P. Industries Ltd (VIPIND)

Likely target: Rs 771

Upside potential: 12%

Shares of V.I.P. Industries have decisively conquered the 200- day simple moving average (SMA), with substantial volumes, as per the daily chart. This chart set-up implies a resilient stance, as the stock price continues to sustain over the 200-SMA placed at Rs 646-level. The present sentiment forecasts a move to strike a new historic peak, crossing Rs 771-mark.  CLICK HERE FOR THE CHART

NBCC (India) Limited (NBCC)

Likely target: Rs 57

Upside potential: 20%

NBCC (India) has broken key hurdle of Rs 45 on the upside, directing a positive rally for upcoming sessions. The price action breakthrough on the weekly chart denotes a move to Rs 57, holding Rs 43 as closing basis support. Furthermore, the breakout is accompanies by the “Golden Cross” rally, fuelling more upside from a medium-term perspective. CLICK HERE FOR THE CHART

UCO Bank (UCOBANK)

Likely target: Rs 40

Upside potential: 25%

Sustainability over Rs 31 could spark a breakout rally in the shares of UCO Bank, as per the daily chart. Although, the Relative Strength Index (RSI) has entered its overbought territory, the rise of the momentum indicator, Moving Average Convergence Divergence (MACD) has boosted the underlying strength. The support for the stock exists at Rs 27-level. The bullish trend is headed to Rs 40. CLICK HERE FOR THE CHART

Amber Enterprises India Ltd (AMBER)

Likely target: Rs 3,250

Upside potential: 14%

Following the breakout of the “Golden Cross”, the stock has successfully managed to build a support base while scaling higher highs. The price action is dominating, reflecting a strong underlying trend.  The upward sentiment has a support of Rs 2,600, which needs to be considered on the closing basis. The price action suggests a rally to Rs 3,250-level. CLICK HERE FOR THE CHART

Central Bank of India (CENTRALBK)

Likely target: Rs 40

Upside potential:  15%

Shares of Central Bank of India have observed increased volumes on the upside breakout in the recent sessions, demonstrating fresh buying interest in the stock. The current bias reveals a rally in the direction of 40-level. The stock has a support of Rs 32, which it needs to guard closely. CLICK HERE FOR THE CHART