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B. Krishnakumar

Godrej Industries (Rs 227.7): The long-term outlook for the stock is bullish. After a sharp upward move that lasted till early June, the stock went into a sharp corrective phase that appears to have been complete at the recent low at Rs 201. The stock now appears to have commenced the next leg of the upward move.

The stock could move to the immediate target zone of Rs 295-300. The positive view would be invalidated if the stock closes below the Rs 180 mark. Shareholders may remain invested with a stop-loss at Rs 190. Fresh exposures may also be considered with a stop-loss at Rs 200.

Tata Tea (Rs 624.6): The stock appears to be in a long-term uptrend. After a short-term correction that concluded at Rs 570 a couple of days ago, the stock appears to have commenced the next segment of the upward move. The long-term uptrend would take the stock to the Rs.680-700 range. The uptrend would be in force as long as the stock holds above Rs 565.

Investors with a long-term orientation could remain invested with a stop-loss at Rs 565. Fresh exposures may also be considered on declines with a stop-loss at Rs 565; a close below Rs 565 would warrant dilution of holdings. Existing holders may also enhance exposures on evidence of support at the Rs 605-610 range.

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