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B. Krishnakumar

Wipro (Rs 1713.8): After a decline on the first two days, the stock recovered strongly on Wednesday and posted a modest gain on Friday. Though there is a possibility of a sideways trend that could continue for a while, the overall outlook remains positive. The earlier view of a rally to the Rs 1825-1850 range is still valid. At the moment, only a break below Rs 1,640 would negate the positive outlook and could push the stock to the Rs 1475-1480 range. Fresh buying may be contemplated with a close stop loss on a close above Rs 1750.

HLL (Rs 202.7): The stock was confined to a narrow trading zone last week. This, however, has not invalidated the bullish outlook. As mentioned last week, the stock has the potential to seek the Rs 215-220 range. The long-term view is positive and investors willing to wait for at least six months may contemplate equity exposure in this stock. The bullish outlook would be negated only if the share price drops below Rs 190. A close below Rs 170 would lead to a long-term weakness. Remain invested with a stop loss at Rs 190. A close above Rs 205 could be used to take fresh long positions with a stop loss at Rs 194.

Infosys (Rs 5395.3): The share price managed to break above the positive trigger price of Rs 5400, mentioned last week. It, however, closed a shade below this level on Friday. The near-term trend is positive and a move to the Rs 5550-5600 range appears likely. A close below Rs 5200 would blunt the positive outlook. Remain invested with a stop loss at Rs 5200. Fresh buying with a stop loss at Rs 5200 may be considered once the stock closes above Rs 5500.

Satyam Computer (Rs 358.4): The stock failed to move past the positive trigger price of Rs 364. Only a break above this level would impart bullish momentum. A move past Rs 364 would help the stock move to the target zone of Rs 375-380. 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 Ind (Rs 530.1): As anticipated, the stock ruled firm last week. The near-term trend continues to be bullish. The stock appears on course to move to target zone of Rs 545-550 that was mentioned last week. Remain invested with a stop loss at Rs 505. Investors holding a profitable position may tighten their stop loss if the stock moves up.

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