The Hindu Business Line : Focus of the week

Neyveli Lignite (Rs 47.4): The near-term outlook for the stock is weak. A drop to the Rs 32-35 range appears likely. Existing holders may look for opportunities to reduce exposures. Only a move past Rs 74 would reinstate positive trend.

Ranbaxy Labs (Rs 1033.3): The stock could seek higher levels in the near term. A move to the Rs 1150-1200 range appears likely. A break past Rs 1090 would have positive implications. Only a close below Rs 970 would negate the positive outlook. Existing holders may remain invested with a stop-loss at Rs 970. Aggressive traders may take long positions in small lots on a move past Rs 1060.

Follow-up

Century Textiles (Rs 130.2): The stock managed to move to the target zone of Rs 145-150 that was mentioned a couple of weeks ago. It lacked momentum to take it past the earlier high at Rs 151.5. Remain invested with a stop-loss at Rs 124 while fresh buying may be avoided.

Bank of Baroda (Rs 177.2): As expected, the stock ruled weak and also dropped way below the target zone of Rs 195-200 mentioned earlier. The near-term outlook remains bearish. A drop to Rs 160-165 appears likely. Only a close above Rs 230 would impart bullish trend. Existing holders may look for opportunities to reduce holdings.

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