The Hindu Business Line : Focus of the week

Birla Corp (Rs 71.5): The near-term outlook appears positive. The stock could move to the immediate target zone of Rs 88-90. A drop below Rs 60 would negate the positive outlook. Remain invested with a stop loss at Rs 64. A close above Rs 75 could be used to take fresh exposures, with a stop loss at Rs 68.

Indian Oil Corporation (Rs 433): After a period of consolidation, the stock has managed to stage a breakout last week. The stock appears to be headed towards the near-term target zone of the Rs 480-500 range. Remain invested with a stop loss at Rs 395. A move above Rs 440 could be used to take long positions with a stop loss at Rs 410.

Follow-up

Elder Pharma (Rs 158.45): The stock was confined to a narrow range last week. This, however, has not negated the earlier positive outlook. A move to the Rs 185-190 range is still on the cards; a drop below Rs 128 would negate this view. Remain invested with a stop loss at Rs 140. Fresh buying may also be contemplated once the share price closes above Rs 171.

Kochi Refineries (Rs 180.2): As expected last week, the stock ruled firm. It appears on course to move to the projected target zone of Rs 205-210. Existing holders may remain invested with a stop loss at Rs 168. A move above Rs 187 could be used to take fresh long positions with a close stop loss in place. A drop below Rs 160 would negate the positive outlook.

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