The Hindu Business Line : Short-term weakness in Reliance

A drop below Rs 420 would indicate that the stock is headed towards the above-mentioned target zone. Only a close above Rs 475 would blunt the short-term negative view. Remain invested with a stop-loss at Rs 420 and use price upmoves to trim holdings.

ONGC (Rs 644.4): The price movement in the stock was similar to that of key market indices such as Nifty and Sensex. The stock oscillated within the key trigger levels of Rs 620-690 during the week. There is, however, no change in the earlier view that the stock could drop to the recent low of the Rs 525-550 range. The short-term outlook remains weak and a drop below Rs 620 would confirm the bearish outlook. Existing holders may have a stop-loss at Rs 620. At least partial profit booking may be considered on intra-day price upmoves.

HLL (Rs 126.8): The share price dropped below the negative trigger level of Rs 128 last week. As observed, the stock could retest the recent low of Rs 115. The long-term positive trend would not be affected by the anticipated drop. The share price appears to be in the final stages of the current leg of decline. On the completion of this move, a significant recovery in the share price may be on the cards. Remain invested with a stop-loss at Rs 110.

Infosys (Rs 5264.9): After a sharp drop on Monday, the stock ruled firm in the remaining four days of the week. It was among the handful of stocks to have recorded a gain in price over the week. The share price is headed towards the immediate resistance level at the Rs 5380-5400 range. Only a break above Rs 5,650 would impart buoyancy. The recent price action suggests that the stock would reverse direction after moving up to the resistance zone of Rs 5,380-5,400. Remain invested with a stop-loss at Rs 5,100.

Tata Motors (Rs397.5): The earlier view of a drop to Rs 350-360 range remains unchanged. Only a move past Rs 450 would warrant a reassessment of the short-term bearish outlook. A drop below Rs 350 would have negative implications and could pave the way for a slide to Rs 300-310 range. Remain invested with a stop loss at Rs 375. Fresh buying may be considered if the stock manages to find support at the Rs 350-360 range.

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