• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

B. Krishnakumar

Wipro (Rs 1555.7): As expected, the stock ruled weak and dropped to a low of Rs 1475 on Wednesday. It regained ground to close on a positive note on Friday.

The near-term trend appears positive and a move to the Rs 1690-1700 range appears likely. A close below Rs 1465 would negate the positive outlook and could pave the way for a drop to the Rs 1400-1410 range. Existing holders may remain invested with a stop loss at Rs 1470. Investors willing to take risk may consider long positions on a break above Rs 1610 with a stop loss at Rs 1500.

HLL (Rs 189.5): The stock was confined to a narrow range last week. The earlier outlook of a drop to th Rs 175-180 range is still valid. This view would be invalidated only if the stock closes above Rs 205. After a brief upmove, the stock is likely to resume its downtrend. The immediate resistance is at Rs 196. Intra-day traders could take long position on a break above Rs 196 with a stop loss at Rs 186. Existing holders may remain invested with a stop loss at Rs 185.

Infosys (Rs 5,558.6): The stock managed to stay above the crucial bearish trigger level of Rs 5,050 during the week. This is a positive signal and the share price also managed to seek higher levels in the last couple of days. The near-term trend appears bullish and a move to Rs 5,675-5,700 appears likely. The stock, however, is likely to drop to the Rs 5,050 mark after the completion of the expected short-term upmove. Existing holders may remain invested with a stop loss at Rs 5,200; fresh buying may be avoided.

Satyam Computer (Rs 319.7): The stock moved in line with last week's expectations. It dropped to a low of Rs 287 on Tuesday and staged a recovery in the remaining three trading days. The near-term trend appears positive and a move to the Rs 335-340 range appears likely. Only a drop below Rs 295 would impart weakness. Existing holders may remain invested with a stop loss at Rs 295. Short-term traders may consider long positions with a stop loss at Rs 305.

Reliance Ind (Rs 574.35): The stock did not quite move in line with last week's expectations. Contrary to the anticipated weak trend, the stock ruled firm. The recent upmove has not blunted the earlier view of a drop to the Rs 530-535 range. The immediate resistance is at Rs 588, followed by the double-top high of Rs 604. A break above Rs 605 could push the stock to the Rs 625-630 range. Remain invested with a stop loss at Rs 545. Fresh buying may be considered by aggressive short-term traders on a break of Rs 580, with a stop loss at Rs 557.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Quiz

Copyright © 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line