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

B. Krishnakumar

IDBI (Rs 118.4): The announcement of the swap ratio for the merger with IDBI Bank is likely to act as a positive trigger.

The chart patterns suggest that the stock is likely to seek higher levels. Hold with a stop loss at Rs 99. A drop below this level would delay the start of the next move. Fresh buying may be considered on a move above Rs 120, with a stop-loss at Rs 107. The immediate target for the stock is Rs 132-Rs 135 range.

Tata Power (Rs 360.1): The outlook for the stock is bearish. A drop to Rs 315-Rs 320 range appears likely. Shareholders may look to reduce exposures. Investors with a high-risk profile may consider short positions on a drop below Rs 353, with a stop-loss at Rs 372. A close above Rs 382 would impart strength.

Follow-up

Andhra Sugar (Rs 132.5): The stock did not move up as anticipated last week. This has, however, not affected the view of a rally to Rs 155-Rs 160 range. The positive view would be valid as long as the stock trades above Rs 125.

Hold with a stop-loss at Rs 125. Fresh buying may also be considered on a move above Rs 142, with a close stop-loss in place.

Aurobindo Pharma (Rs 277.3): Long positions would not have been initiated as the price failed to move past the indicated trigger level of Rs 330. The price however dropped below the stop-loss level of Rs 295.

This has effectively negated the short-term positive outlook. Investors may look to reduce exposures and contemplate re-entry on price weakness.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Value inflow sans cash outflow

Copyright © 2005, 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