The Hindu Business Line : Focus of the week

KEC International (Rs 89): The stock was covered a couple of weeks ago and it has already moved closer to the first target zone of Rs 96. A move past Rs 100 would push the stock into a new bull orbit. The price could then move to the Rs 125-130 range. Remain invested with a stop loss at Rs 78.

Jindal Iron and Steel (Rs 195.4): The near-term trend appears bearish. A drop to the Rs 140-150 range appears likely. The stock could, however, stage a sharp recovery after the completion of the ongoing downward phase. Remain invested with a stop loss at Rs 175. Evidence of support around the Rs 140-150 range could be used to take fresh exposures with a close stop-loss in place.

Follow-up

Ashok Leyland (Rs 267.5): The stock staged a modest uptrend last week and appears on course to touch the target zone of Rs 280-285. A break above the Rs 280-mark would impart buoyancy. This would warrant initiation of fresh long positions with a stop-loss at Rs 253. Existing holders may remain invested with a stop-loss at Rs 235. A drop below Rs 235 would blunt the positive outlook and would require dilution of holdings.

Tata Power (Rs 407): The stock ruled firm as expected last week. The share price appears to be headed towards the Rs 440-450 range. Remain invested a stop-loss at Rs 390. A close below Rs 370 would warrant reduction of holdings in the company.

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