The Hindu Business Line : Further upside in HLL

Wipro (Rs 1,705.8): The price movement was in sync with last week's expectations. The stock ruled firm and moved towards the target zone of Rs 1,725-1,750. The near- term outlook remains positive. A move to the Rs 1,825-1,850 range appears likely. At the moment, only a break below Rs 1,600 would negate the positive outlook and could push the stock to the Rs 1,475-1,480 range. Existing holders could remain invested with a stop loss at Rs 1,610. Fresh buying may also be contemplated on price dips with a stop loss at Rs 1,610.

HLL (Rs 200.5): The stock managed to move past the bullish trigger price of Rs 190 that was mentioned last week. It also moved closer to the earlier-mentioned target band of Rs 205-210. As stated in earlier weeks, the overall outlook remains positive. A move to the Rs 215-220 range appears likely. A close below Rs 185 would negate the positive outlook and result in a prolonged weakness. Remain invested with a stop loss at Rs 185. A move past Rs 205 could be used to take fresh long positions with a stop loss at Rs 194.

Infosys (Rs 5,260.8): The stock is yet to break out of the trading zone that it has been confined to in the recent weeks. Though the short-term outlook appears positive, only a close above Rs 5,400 would impart upside momentum. On the other hand, a drop below Rs 4,900 would invalidate the positive outlook. Remain invested with a stop loss at Rs 4,900. Fresh buying with a stop loss at Rs 4,900 may be considered once the stock moves past Rs 5,400.

Satyam Computer (Rs 355.7): The stock is perched close to the positive trigger price of Rs 364. A move past this level would help the stock move to the target zone of Rs 375-380 that was mentioned last week. Only a drop below Rs 340 would have negative implications. Remain invested with a stop loss at Rs 340. A move past Rs 364 could be used to take fresh exposures with a tight stop loss.

Reliance Industries (Rs 520.4): As anticipated, the stock ruled firm and moved past the bullish trigger level of Rs 515. The near-term trend continues to be positive. A move to the Rs 545-550 range appears likely. Remain invested with a stop loss at Rs 490. Aggressive traders could contemplate long positions with a close stop loss in place.

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