The Hindu Business Line : Focus of the week

Alok Industries (Rs 61.5): The stock has comfortably moved past the earlier mentioned (Edition dated November 2, 2003) target price of Rs 50. The near-term outlook remains positive and a move to the Rs 75-80 range appears likely. Remain invested with a stop loss at Rs 53. A close above Rs 64 could be used to take fresh exposures with a stop loss at Rs 57.

Elder Pharma (Rs 172.6): The share price appears to be headed towards the earlier mentioned (edition dated December 14) target zone of Rs 185-190. The recent price pattern indicates that the stock could move to higher levels of Rs 210-215 in the near term. Existing holders could remain invested with a stop loss at Rs 155. Fresh buying may also be considered with a stop loss at Rs 160.

Follow-up

KEC International (Rs 86): The stock ruled firm as anticipated. It appears on course to rally to the target zone of Rs 95-100 that was mentioned last week. Existing holders may remain invested with a stop loss at Rs 73. Fresh buying may also be considered on intermittent weakness with a stop loss at Rs 73. Patient investors willing to wait for a longer time frame are likely to be rewarded.

Birla Ericsson (Rs 26.9): After a strong upmove on Monday, the stock remained confined to a narrow trading band. The near-term outlook remains bullish and a move to the Rs 32-35 range appears likely. Existing holders could remain invested with a stop loss at Rs 22. Fresh exposures may also be considered on price dips with a stop loss at Rs 21.

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