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B. Krishnakumar

Alembic Chemicals (Rs 116.2): The near-term outlook for the stock appears positive. A move to the Rs 130-135 range appears likely. A drop below Rs 109 would negate the positive outlook. Remain invested with a stop-loss at Rs 109. Long positions may be considered on a close above Rs 120, with a stop-loss at Rs 113.

Jindal Iron & Steel (Rs 229.3): The stock has already moved past the earlier mentioned target zone. The recent upward move does not appear complete. A rally to the Rs 255-260 range appears likely. Hold with a stop-loss at Rs 210. A close above Rs 235 may be used to take long positions with a stop-loss at Rs 215.

Follow-up

India Cements (Rs 31): The stock was stuck in a narrow range last week. The view of a rally to the Rs 42-45 range is valid. A move past Rs 33 would add credence to this view. Remain invested with a stop-loss at Rs 29. Long positions may also be considered on a move above Rs 33, with a stop-loss at Rs 29.

Hinduja TMT (Rs 210.2): Contrary to expectations, the stock ruled weak. The drop below the stop-loss level of Rs 202 has negated the earlier positive outlook. A buy signal would not have been triggered as the stock failed to move past the trigger level of Rs 220. Existing holders may remain invested with a stop-loss at Rs 195. Fresh buying may be avoided for the moment.

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