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B. Krishnakumar

Orchid Chem (Rs 183.6): The outlook for the stock is positive. A move to the Rs 240-250 range appears likely. Only a drop below Rs 164 would blunt the positive outlook and could push the stock down to the Rs 140-150 range.

However, the uptrend to the target zone of Rs 240-250 would resume thereafter. Existing holders could remain invested with a stop loss at Rs 164. A close above Rs 196 could be used to take fresh exposures with a stop loss at Rs 174.

Nagarjuna Fertiliser (Rs 8.1): The stock could seek the Rs 10-11 range in the near term. A move above Rs 8.5 would confirm this view. Long positions in limited quantities may be considered on a move above Rs 8.5. Stop loss for all long positions may be placed at Rs 7.3.

Follow-up

Bharat Earth Movers (Rs 213.7): The share price was stuck in a narrow trading zone last week. This, however, has not invalidated last week's view of a rally to the Rs 275-280 range. Only a drop below Rs 182 would be a cause of concern and would attenuate the possibility of a rally to this target. Conservative investors may place the stop loss at Rs 198 while risk-seeking ones may place the stop at Rs 182.

ICICI Bank (Rs 249.9): In line with expectation, the stock settled at higher levels last week. The share price appears to be on its way towards the price target of Rs 300 mentioned last week. Existing holders could remain invested with a stop loss at Rs 220. A close above Rs 255 could be used to take fresh exposures with a stop loss at Rs 220.

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