3 Mid Cap stocks to be looked at as markets are volatile ahead of BREXIT

Even as market trades with volatility, a day before the BREXIT event on June 23, Indian markets are witnessing broad base profit booking and sell off. The sell off in small cap & mid cap stocks is larger than their large cap counterparts with BSE Small Cap index down by almost 0.65 per cent and BSE Mid Cap index down by 0.36 per cent; even as Sensex is reeling under pressure down by 0.36 per cent at 2. 30 pm on Wednesday. 

Ashok Leyland, Indiabulls Housing Finance and Bharti Electronics are three mid cap stocks that have cracked on Wednesday and have contributed substantially to BSE Midcap downfall. Put together the three stocks have contributed to 36 per cent of the BSE Midcap Index's fall. 

Ashok Leyland is down by almost 2.30 per cent and is trading at Rs 99.75 per share. Bharat Electronics is down by 1.96 per cent and is trading at Rs 1258 per share and Indiabulls Housing Finance is down by 0.58 per cent, trading at Rs 690 per share. 

With a long term view these three mid cap stocks can be looked at by investors for out-performance, looking at the fundamentals of the companies and underlying demand improvement for the products of these companies. 

BREXIT if happens will create a sell off in Indian markets along with the global equity markets. As per the derivatives data there is lot of put writing happening at 8000 levels indicating markets may take support at 8000 level in Nifty.