The Hindu Business Line : Focus of the week

SRF (Rs 192.4): The stock has moved in line with expectations. It has comfortably moved past the target zone of Rs 165-170 mentioned earlier (edition dated May 15). After a brief consolidation, the stock appears to have started the next leg of the rally.

The sharp rise in price on Friday on the back of a pick-up in trading volume indicates that the stock is gearing up to move ahead. It appears to be headed towards the immediate target zone of the Rs 235-240 range. The positive view would be invalidated if the stock closes below the Rs 160 mark. Shareholders may remain invested with a stop-loss at Rs 160. Fresh exposures may also be considered with a stop-loss at Rs 170.

Century Textiles (Rs 286.7): The stock appears to be on course to move to the target zone of the Rs 310-320 range mentioned earlier (edition dated June 12). After the recent sideways consolidation, the stock appears set to take a shot at the target zone. The uptrend would be in force as long as the stock holds above Rs 250.

Investors with a long-term orientation may remain invested with a stop-loss at Rs 240. Fresh exposures may also be considered on declines with a stop-loss at Rs 250.

A close below Rs 250 would warrant dilution of holdings; a drop below Rs 240 would push the stock into a bear orbit.

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