The Hindu Business Line : Focus of the week

It could move to the target zone of the Rs 165-170 range in the near term. After a short-term consolidation, the stock appears to have commenced the next leg of the upward move last week. The strong rally on Thursday on the back of a surge in trading volume is an indication of resumption of buying interest.

Shareholders may remain invested with a stop-loss at Rs 124. The positive view would be negated if the stock close below this level. Fresh exposures may be considered on price weakness with a stop-loss at Rs 124. Exposures may be enhanced on a close above Rs 150.

FDC (Rs 44.1): After a sharp upward move in 2004, the stock has been on a downtrend since January 2005. The recent downward move appears to have been arrested at the low formed at Rs 39.6 a couple of weeks ago. The near-term trend is bullish and a move to Rs 52-54 range appears likely.

Short-term traders may consider long positions with a stop-loss at Rs 42. Shareholders may remain invested with a stop-loss at Rs 38.

Partial profit-booking may be considered if the stock faces resistance at the target zone of Rs 52-54. A close below Rs 38 would warrant dilution of exposures, as this would delay the resumption of the next leg of an uptrend.

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