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Wednesday, June 26, 2013

Small caps that can give good returns in short term

The benchmarks are moving in a narrow range with positive bias ahead of the June series F&O expiry and mixed cues from Asian markets. According to analysts, the recent correction provides good opportunity for investors to pick good stocks that can give smart returns in the short to medium term. 

"The market has stopped falling. Noweither we remain in a range here and again attempt 5,700 or we continue to fall. From a risk-reward perspective, shorting below 5,600 without a decent pullback is not the smartest trade. Chances are this pullback may not be over today and we may slowly inch on the upside helped by some news," said Ashwani GujralFund Manager, 

"I think there will be a pullback and before we break 5,500, the market should rally at least 100 points from where you can short with a lot more confidence," he added. 

At 12:05 pm, the S&P BSE Sensex was at 18,640.61, up 11.46 points or 0.06 per cent. It touched a high of 18,690.50 and a low of 18,584.30 in trade today 

The BSE Midcap Index was down 0.13 per cent and the BSE Smallcap Index was up 0.24 per cent. 

Following are his technical views to ET Now on smallcap stocks which can give handsome returns in the short-term: 

Buy L&T Foods around Rs 68.75 with a stop loss of Rs 62 for a target of Rs 83. The stock is continuing its uptrend and after a mild correction it is bouncing back. 

Buy Nitin Fire Protection around Rs 63.6 with a stop loss of Rs 57 for a target of Rs 76. After a correction, the stock is trying to come out from range. 

Buy Tourism Finance Corporations near Rs 23.75 with a stop loss of Rs 21 for a target of Rs 29. It recently came out of its 200-DMA and after testing it is bouncing back. 

Buy Essel PropackBSE 0.00 % near Rs 38.50 with a stop loss of Rs 34 for a target of Rs 46. The stock is showing strength near current levels. 

Buy Escorts India near Rs 67 with a stop loss of Rs 60 for a target of Rs 80. The indicators appear bullish on the charts. 

Buy Edelweiss Financial ServicesBSE -1.74 % near Rs 30 with a stop loss of Rs 28 for a target of Rs 37. The stock is showing strength near current levels.

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