The Hindu Business Line : Focus of the week

Mahavir Spinning (Rs 252.5): The outlook is bullish and a move to the Rs 275-280 range appears likely. The long-term remains positive and the stock has fair distance to be covered on the upside. Hold with a stop-loss at Rs 213; those who prefer a tighter stop-loss may peg it at Rs 230. A drop below Rs 230 would be the first sign of weakness. A drop below Rs 213 would negate the positive outlook.

Ranbaxy Labs (Rs 1098.6): After a period of consolidation, the stock appears to be geared for a breakout on the upside. A move to the Rs 1200-1210 range appears likely. Remain invested with a stop-loss at Rs 1060. Fresh buying may also be considered with a stop-loss at Rs 1060.

Follow-up

Chennai Petroleum (Rs 236.9): The stock moved to the target zone of Rs 235-240 mentioned last week. The outlook remains positive and a move to the Rs 265-270 range appears likely. A drop below Rs 226 would negate the positive outlook. Long-term investors may have a stop-loss at Rs 226 for a portion of the holding and at Rs 215 for the balance.

Andhra Sugar (Rs 114.4): A bullish trend prevailed as anticipated last week. The stock moved close to its target zone of the Rs 115-120 range. The recent uptrend does not appear complete. A move to the Rs 128-130 range appears likely. Hold with a stop-loss at Rs 102. Fresh buying may also be considered on price weakness, with a stop-loss at Rs 102.

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