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B. Krishnakumar

Tata Power (Rs 357.3): The stock managed to hold above the crucial bearish trigger level of Rs 334. It, however, ran out of steam on moving past the resistance zone at Rs 348-350. Despite the bullish market sentiment, the stock ruled weak in the last couple of days. The near-term trend is bearish and a drop to the Rs 345-347 range appears likely. A close below Rs 345 would impart further weakness and could push the share price to the Rs 332-335 band. Holders of short positions may have a stop-loss at Rs 368. Only a close above Rs 372 would reinstate bullishness.

Reliance Ind (Rs 549): The share price ruled firm and stayed above the negative trigger level of Rs 515. It also moved past the resistance zone at the Rs 534-538 range. The near-term trend is positive and a move past the immediate resistance at Rs 558 would impart bullish momentum. This would help the stock move to the Rs 572-575 range. The positive trend would be negated if the stock drops below Rs 530.

Hindustan Lever (Rs 134.2): Last week's view relating to the stock remains unchanged. The price movement during the week was devoid of any significant trend. The outlook appears bullish and would remain so, as long as the share price holds above Rs 130. The immediate resistance is at the Rs 136-138 range. A close above Rs 139 would impart further strength. Hold with a stop-loss at Rs 130. Fresh exposures may be considered on declines, with a stop-loss at Rs 130. A close above Rs 139 may be used to add to long positions, with a stop-loss at Rs 130.

Satyam Computer (Rs 413.6): The stock is oscillating within the confines of a narrow trading zone. The price movement last week did not provide any significant clue about the direction of the medium-term price movement. There is, however, a likelihood of the price moving to the immediate target zone of the Rs 426-428 range. Holders of long position may have a stop-loss at Rs 405. Fresh exposures may be avoided for the moment.

Infosys (Rs 2,021.4): The stock closed above the crucial positive trigger level of Rs 1950. It also edged past the first resistance level at Rs 2,010. It remains to be seen if there is sufficient strength to push the share price above the next resistance level at Rs 2,060. The recent recovery in share price has weakened the case for a drop to the Rs 1,845-1,850 range. The trend would turn bearish and the possibility of a slide to the Rs 1845-1850 range would resurface if the stock closes below Rs 1947. Stop-loss for long positions may be placed at Rs 1947.

Follow-up

Havells India (Rs 341.9): The stock ruled firm as anticipated last week. It also moved comfortably past the first target zone at the Rs 318-320 range. As observed last week, the long-term outlook remains bullish. A move to the Rs 365-375 range appears likely. Remain invested with a stop-loss at Rs 308. Fresh exposures may be avoided while shareholders may tighten stop-loss on a move to the target zone.

Alstom Projects (Rs 230.8): The price moved in line with expectations. After a drop to the projected support zone at Rs 212-215, the stock staged a recovery as anticipated last week. It is, however, disappointing to notice the paucity of follow-up buying action. This leads uncertainty regarding the resumption of the upward trend.

A close above Rs 265 would confirm the resumption of the long-term bullish trend. Till such time, the stock is likely to either rule weak or oscillate in a narrow trading range. A close below Rs 205 would impart bearishness and would blunt the long-term positive outlook.

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