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B. Krishnakumar

Wipro (Rs 1538): The near-term outlook appears positive. A move above the near-term resistance level of Rs 1570 would help the stock touch the immediate price target of Rs 1700-1720. Only a drop below Rs 1420 would negate the positive outlook for Wipro. Existing holders may remain invested with a stop loss at Rs 1420. Long positions may be contemplated with a stop loss at Rs 1440. A close above Rs 1750 would have major positive implications from a long-term perspective.

HLL (Rs 178.3): The stock was stuck in a narrow trading range last week. Despite the overall bullish market sentiment, the stock registered a decline of Rs 1.5 from the previous week's close. A break out of this trading zone would impart a strong momentum in the direction of the price breakout. The long-term trend still remains bullish and a close above Rs 190 would push the stock into a bull orbit. Only a close below Rs 173 would negate the short-term positive outlook. Remain invested with a stop loss at Rs 173.

Infosys (Rs 4926): The stock moved in line with expectations. After a weak trend on Monday, it managed to stage a recovery. The stock moved past the positive trigger of Rs 4950 and closed a tad lower on Thursday. The near-term outlook remains positive. The earlier view of a rally to the Rs 5400-5450 range is valid. Only a close below Rs 4700 would impart negative trend and could blunt the positive outlook as well. Existing holders could remain invested with a stop loss at Rs 4700. A close above Rs 4950 could be used to take long positions with a close stop loss.

Satyam Computer (Rs 329.9): Though the stock staged an upmove last week, the structure of the rally was not too convincing. The long-upper shadow of the daily price bar in the Japanese Candlestick chart indicates that the stock was not in a position to settle at higher levels. This is a cause of concern from the near-term point of view. A close above Rs 340 would impart a positive undertone while a drop below Rs 304 would impart bearishness. Remain invested with a stop loss at Rs 304.

Reliance Industries (Rs 487.9): The stock ruled firm in line with expectations. The stock managed to close above the positive trigger price of Rs 480. The near-term trend remains positive. A move to the last week's target zone of Rs 495-500 is valid. At the moment, only a drop below Rs 460 would negate the positive outlook. This could have negative implications and could push the stock to the Rs 400-410 range.

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