Multinational brokerage CLSA has picked five popular mid-cap stocks as ideal buy candidates amid a relief recovery in the market. Relative to the blue-chip Nifty 50, the NSE Mid‑Cap 100 index has already broken out of its June 2025-April 2026 range to register a new all‑time high, with the relative line closing above the late‑2024 peak, technical analyst Laurence Balanco said in a note.
The index is approaching resistance at 60,925–61,393, which was the upper boundary of the 2024 consolidation. A close above this zone would represent a major bullish breakout, implying an upside target of 77,687-78,000, CLSA said.
BSE
CLSA noted that a breakout above the June 2025–February 2026 highs signals a resumption of the long‑term uptrend. This move supports an upside target in the range of Rs 4,690–4,700. Investors may look to add on pullbacks toward the Rs 3,030–3,184 zone, which represents the upper boundary of the prior consolidation.
MCX
Last week's breakout above the upper boundary of the January–April consolidation pattern indicates a resumption of the stock's uptrend and points to a fresh upside target of Rs 3,610–3,650. The former resistance band at Rs 2,692–2,700 is now expected to act as a key support area. As long as prices remain above this zone, the outlook continues to favour further upside.
Apollo Tubes
The recent pullback and rebound from support at the upper boundary of the 2023–2025 range, which coincides with the 200‑day moving average, reinforces the late‑2025 breakout. This price structure supports an upside target of Rs 2,500–2,600. Investors may consider adding on pullbacks toward Rs 1,900.
Dixon Technologies
Dixon presents a bottom‑fishing opportunity. The price and momentum divergence observed between December 2025 and March indicated slowing downside momentum, followed by a period of basing above Rs 9,590–9,600. Last week's close above the 50‑day moving average adds further conviction. A breakout above Rs 11,845–11,900 would confirm the base and open the door to an upside target of Rs 14,300–14,400.
Aurobindo Pharma
The breakout from the 2025–2026 basing pattern, confirmed by March's close above Rs 1,250–1,273, supports an upside target of Rs 1,627–1,630. Any pullbacks toward Rs 1,273 should be viewed as attractive buying opportunities.
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