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B. Krishnakumar

Wipro (Rs 1545.6): The price action in the stock was in line with expectations. As anticipated, the share price moved to target zone of Rs 1585-1600 and turned weak thereafter. The stock could move to the immediate resistance at the Rs 1625-1650 range. Only a break above this zone would impart strong bullish momentum. Remain invested with a stop-loss at Rs 1460. A close below Rs 1460 would result in the continuation of the recent downtrend. Fresh buying may be deferred for the time being.

HLL (Rs141.6): Interestingly, the stock did not participate in the sharp slide witnessed during the week. Along with technology sector stocks, Hindustan Lever also managed to weather the bearish trend. Though there is a risk of a drop to the Rs 120-125 range, it appears on the verge of completing the downward trend. Only a move past Rs 162 would reinstate positive trend. A drop below Rs 132 would confirm the possibility of a drop to this range. Remain invested with a stop-loss at Rs 132. Fresh buying may be considered on the evidence of support at around the Rs 120 mark.

Infosys (Rs 5090): The stock saw a mixed trend last and remained volatile during the week. The recent price pattern does not throw up any significant clue about the near-term trend. There have been too many spikes in price extremes over the recent weeks, which has distorted the overall picture. While a close below Rs 4750 would have negative implications, a close above Rs 5400 would have positive implications. Fresh buying may be avoided; existing holders may remain invested with a stop-loss at Rs 4900.

Satyam Computer (Rs 312.5): As observed earlier, there is no discernible price pattern to arrive at a short- or medium-term trend. The stock is still stuck in range and the price action has been predominantly sideways. A break below Rs 280 would have negative implications while a move past Rs 335 would impart bullishness. Existing holders may remain invested with a stop-loss at Rs 280.

Reliance Ind (Rs 476.8): The price action has been in line with earlier expectations. As anticipated, the stock ruled weak and has moved closer to the target zone of Rs 450-460 that was mentioned a couple of weeks ago. The near-term trend remains weak and a drop to the Rs 450-460 range appears likely. Existing holders may look for avenues to reduce exposure and contemplate re-entry on evidence of support around the Rs 450-460 band.

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