Midcaps, smallcaps set to outperform benchmarks in near-term: HDFC Sec

Nifty outlook
 

Nifty rose for the seventh session on the trot, to close at 12,643 on Tuesday. BankNifty continued its recent outperformance over Nifty, rallying almost 22 per cent in last seven sessions. Benchmarks are now in uncharted territory with full momentum. Pattern target for Nifty is seen in the range of 12,800-13,000. Support for the Nifty is shifted up to 12,300 odd levels. At current levels, Midcap and smallcap stocks look more attractive than largecaps. 

BUY ONGC (Rs 70.85): | Target: Rs 74 | Stop-loss: Rs 69

The stock rose more than 3.5 per cent with significant jump in volumes. It