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B. Krishnakumar

Wipro (Rs 1463.9): Last week's bullish stance was vindicated by the firm trend in the stock in the past few trading sessions. The announcement of the bonus issue imparted positive sentiment on Thursday. This helped the stock move past the resistance zone at Rs 1450. The near-term trend appears bullish and the formation of a bullish reversal bar in the weekly charts is a positive development. A test of the immediate resistance level at the Rs 1650-1660 range appears likely. Remain invested with a stop-loss at Rs 1320.

HLL (Rs 148.2): The price movement in the stock has been in line with the outlook provided in the past few weeks. As mentioned a couple of weeks ago, the trend turned weak after a brief upmove. The stock is likely to test the earlier low at the Rs 135-136 range. In the weekly charts, the price appears to be tracing out a downward sloping "contracting triangle" pattern. If this view is valid, it would take quite some time and effort for the stock to get back to a significant bullish phase. Only a break above Rs 210 would negate the contracting triangle pattern.

Infosys (Rs 5312.1): The company surprised the market by the bonus/stock-split announcement. Though the near-term trend appears positive, the fourth quarter performance and the earnings guidance provided on Monday would have a key influence on the price direction. Remain invested with a stop-loss at Rs 5050. Fresh buying may be deferred.

Satyam Computer (Rs 310.4): The share price is still confined to a narrow trading zone marked by the extremes at Rs 285 and Rs 325. The price movement in the recent days does not throw up any significant pointer about the near-term trend. Remain invested with a stop-loss at Rs 288.

Reliance Ind (Rs 573.1): After a strong upmove on Monday, the stock has been on a consolidation mode in the Rs 564-582 band in the remaining three trading days of the week. The earlier view that a close above Rs 580 would lend further strength remains valid. A move past Rs 595 is likely to have long-term positive implications. Remain invested with a stop-loss at Rs 550. Fresh long positions may also be considered on a move past Rs 585, with a stop-loss at Rs 560. Holders of long positions may consider partial profit booking once the stock moves closer to the Rs 600 mark.

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