Financial Daily from THE HINDU group of publications
Sunday, Jan 01, 2006
Financial Daily from THE HINDU group of publications Sunday, Jan 01, 2006 |
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Investment World
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Technical Analysis Markets - Stock Markets Focus of the week B. Krishnakumar
Asian Electronics (Rs 401): The stock was one of the star performers in 2005. It has been in a major uptrend since April 2005. Even after the recent surge in price, there appears to be significant upside potential from the prevailing levels. The stock could move to Rs 465-470. A close above Rs 470 would push the stock to the next target zone at Rs 495-500. The positive outlook would be valid as long as the share price holds above Rs 340. Investors may hold with a stop-loss at Rs 340. Fresh exposures may also be considered with the stop-loss at Rs 340. Price weakness may be used to enhance exposures. A close below Rs 340 would warrant dilution of holdings, while a close below Rs 320 could push the stock into a prolonged corrective phase. Dhampur Sugar (Rs 190): After touching a high of Rs 191 in August last year, the stock went into a major corrective phase. This corrective phase appears to have been completed at the recent low of Rs 121. The next leg of the upward move appears to have been underway from this low of Rs 121. If this assessment is valid, the stock could move to Rs 225-230. This view would be valid till such time the share price remains above Rs 170. Remain invested with a stop-loss at Rs 170. Fresh exposures may also be considered with the same stop-loss. Exposures may be enhanced on weakness, with a stop-loss at Rs 170.
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