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B. Krishnakumar

Nifty (1069.8): As anticipated last week, the index declined to seek support at the target zone of 1025-1035. The near-term outlook for Nifty continues to remain positive. A move past 1075 would confirm the bullish view while a drop below 1034 would impart weakness. The immediate target for Nifty lies around the 1125-1150 range. Long positions may be considered with a stop loss at 1034.

ITC (Rs 660): The price action in the scrip was in alignment with last week's expectations. With the Friday's close at Rs 660, the scrip has now moved right into the earlier projected target range of Rs 660-670. Except for the surge on Friday, the scrip has failed to reflect the overall buoyancy in the market. Existing holders could, therefore, remain invested with a stop loss at Rs 645. Price upmoves could be used to reduce exposures while fresh buying may be avoided.

Hindustan Lever (Rs 177.65): The share price of the company moved right in line with last week's expectations. As anticipated, the scrip managed to move towards the price target of Rs 178-180 (mentioned last week). The next major resistance lies at the Rs 195-200 range. A close above Rs 180 would be an early indicator of a further upmove towards the next resistance zone at Rs 195-200. As of now, existing holders could remain invested with a stop loss at Rs 168. A move past Rs 180 could be used to take fresh long positions.

Infosys Technologies (Rs 4,536): The overall outlook for the scrip continues to remain positive. However, the short-term trend would depend on the price action in the next few days. A move above Rs 4,700 would have positive implications while a drop below Rs 4,380 would result in a drop to the Rs 4,100-4,200 range. Existing holders could remain invested with a stop loss at Rs 4,350. Evidence of support near Rs 4,200 - 4,250 could be used to take fresh long positions. Alternatively, a move above Rs 4,700 could also be used as a trigger to initiate long positions.

Satyam Computers (Rs 280.5): Similar to Infosys, the overall outlook for Satyam too appears bullish. Only a close below Rs 265 would negate the positive outlook. Given this backdrop, existing holders could remain invested with a stop loss at Rs 265. A move past Rs 290 could be used to take fresh long positions with a suitable stop loss.

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