Technical Analysis of Indian Equities by Nooresh

Small Cap Coverage- Excellent Performance for patient Investors.


Around November 2009 the blog had a new post category of Small Cap Coverage where I try to cover Small cap stocks which look very interesting on fundamentals and have very high growth potential or a possibly large valuation gap according to my limited knowledge of business and fundamental analysis.


All the stocks covered may have potential to become multi-baggers in the long run my targets have been roughly in the range 50-100% over medium to long term. Although I don’t write a big lengthy report but a brief on my fundamental and technical view is posted. (Soon we would have a fundamental analyst team who would explain in more details).

The stock-picking has been excellent in this section providing superlative returns as well as giving readers enough time to research the stock and accumulate.

Following stocks were covered. Read the posting below it for the report on the stock and the current view has been posted.

1) Accentia Technologies

Report published on November 29 – 2009 : Market Price - 112-118.

Current Market Price: 266.Highest price reached: 322

Current View:

The stock has achieved all our targets but the potential in the stock still remains and can outperform over the next 1-2 years. Can review to enter if dips closer to 200 or lower.

At the consolidated eps of 55 the stock is still quoting at a p/e lower than 5.

2) Surya Pharma

Report published on December 14 – 2009 : Market Price – 135-140.

Current Market Price: 185 Highest Price reached: 195.8

Current View:

A strong accumulate and hold at current levels also. Book Value of 210 and a p/e of less than 5. Only concerns remain on the debt side but business potential is huge. It could turn out to be a multi-bagger in the long run.

Technically also stock could see a fresh move on closing above 200. Fresh buying can be done at current levels with a view to add on declines to 165.

3) PTL Enterprises.

Report published on 7 January 2007 Market Price: 19-20

Current Market Price: 33 Highest Price reached: 33

Current View:

The stock being an illiquid one remained very range bound for the last 6 months. In the last few weeks the stock has short up more then 50%.

Investors should book half of the holdings at current levels and rest at 40 levels if comes. No fresh buying advised as it was a bet on potential in the medical care business and a big valuation gap which has now narrowed.


Report published on January 2007 Market Price: 110-105

Current Market Price: 145 Highest Price reached: 175

Investors should book profits fully in the range of 145-170 and if needed to have an exposure in Medical Care then look to buy Fortis or Apollo Hospitals on declines. Yet again here we were looking at a valuation gap which gets narrowed at 170 or higher levels.

5) ION Exchange

Report published on 5 April 2010 Market Price: 140-145

Current Market Price: 150 Highest Price reached : 176

A strong accumulate and hold at current levels also. This could again turnout to be a multi-bagger in the long run. We would soon be coming out with a detailed report on this stock.

Technically the stock still remains positive. Investors with long term outlook must have an exposure to this stock.

6) Camlin Limited and Navneet Publications

Please read the post -

I remain extremely bullish on the above stocks. Camlin Limited is already up from 28/31 levels to 37-38 so partial booking just to reduce costs.

As of now nothing interesting has particularly popped up as alongwith a fundamental reasoning I wait for technical reasons to take even a long term call so the investment period reduces considerably and optimization of resourcesJ

All the above calls are covered in our DELIVERY GAINS SCHEME prior to the blog – Charges Rs 20k annual, 7k per qtr. For more check – or call Asif 09833666151 for all plans. 

Keep reading and if you like the stuff on the blog please pass it to all your friends and colleagues. Also people based in Mumbai (elsewhere also ) are cordially invited to opening of our new “TRADING & TRAINING CENTRE” at Mumbai. For the invite please .

Article by Nooresh Merani

Nooresh has written 2774 articles.

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{ 12 comments… add one }
  • vivek July 5, 2010, 19:58

    Dear Nooresh,
    I have bought 2000 shares of Navneet Pub. @ Rs.53 . Can I add more @rs. 48.
    Please give me the target.

    • nooresh July 6, 2010, 13:08


      Long term 80. Add more provided if u have patience.

  • Bhanu July 6, 2010, 13:00

    Dear Nooresh, I am not sure if Vimta is small cap or not but, you had a reco on that too and it is up 50% odd. 🙂

    • nooresh July 6, 2010, 13:04

      Hi Bhanu,
      Vimta has not moved much from the recommended range of 36 and then though it dipped a lot. Its a multibagger in the long run. Just happened to be a little early.

  • bhanu July 6, 2010, 15:37

    Dear Nooresh,

    Why is apollo hospital going down ? Can we buy more?

  • bhanu July 7, 2010, 11:47

    Nooresh, you view on Apollo Hospital for mid term?

  • vivek July 7, 2010, 17:17

    Dear Nooresh,
    I have bought 2000 shares of Roman Tarmat @ Rs.70 .
    Please give me the target.

  • bhanu July 7, 2010, 18:32

    Dear Nooresh,

    Any view on FDI increase proposal in retail? would you recommend any stocks in this sector?

  • nishi July 9, 2010, 22:47

    hi nooresh,
    i have mudra lifestyle 500 shares at 112 what should i do. give me a view on persistent, redigton india and hathway cable

  • Varun August 1, 2010, 21:45

    Dear Nooresh!!
    Fabulous work!! How would you rate some water/ agriculture stocks like Jain Irrigation , Thermax ? I quite like the two. Could you also advise me on Rallis India & the water / agriculture sector as a whole?
    Thanks a ton

    • nooresh August 3, 2010, 01:45

      Hi Varun,
      I would like Thermax at current levels.
      The other two might have over run in near term. Ion Exchange and United Phos look interesting in theme stocks.

  • yadvinder May 5, 2011, 14:18

    nooresh ihave 100 shares of havells at 392 would u advise me to hold or exit?what its target?


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