Financial Daily from THE HINDU group of publications
Sunday, Jul 25, 2004
Financial Daily from THE HINDU group of publications Sunday, Jul 25, 2004 |
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Investment World
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Technical Analysis Markets - Technical Analysis Focus of the week B. Krishnakumar
India Cements (Rs 32.5): The near-term trend appears positive and a move to Rs 42-Rs 45 range appears likely. Long positions may be considered, especially on price dips, with a stop loss at Rs 30. Investors may consider either partial profit booking or raise the stop loss closer to market action once the stock moves to Rs 42-Rs 45 range. A decline below Rs 29 would negate the positive outlook. Hinduja TMT (Rs 216): The stock has moved to the target price of Rs 205-Rs 210 range mentioned earlier (edition dated June 27). It appears set to resume the recent uptrend. Remain invested with a stop at Rs 202. Long positions may also be considered on a break above Rs 220 and with a stop loss at Rs 210. Follow-up Premier Instruments (Rs 32): The stock ruled firm as anticipated. It appears on course to move to the target zone of Rs 38-Rs 40 that was mentioned last week. Remain invested with a stop loss at Rs 28. Fresh buying may also be considered on a move above Rs 32.6, with a stop loss at Rs 30. Cadila Healthcare (Rs 469): The share price failed to make headway on either direction. This, however, has not negated the positive outlook. Only a drop below Rs 435 would be a negative trigger. Hold with a stop loss at Rs 435; a move past Rs 480 could be used to take long positions with a stop loss at Rs 440.
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