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B. Krishnakumar

Cipla (Rs 230.1): The short-term outlook for the stock is bullish. A move to the Rs 255-Rs 260 range appears likely.

A close above Rs 234 would confirm the possibility of the move to this target zone. Remain invested with a stop loss at Rs 220.

Fresh long positions may also be considered on a move past Rs 234, with a stop loss at Rs 220.

A drop below Rs 220 would impart weakness; a breach of Rs 210 would negate the positive outlook.

HPCL (Rs 289): The share price could seek lower levels of Rs 225-Rs 230 in the near term. Remain invested with a stop loss at Rs 279 and use any strength in price to reduce exposures.

Buying may be considered if the stock finds support around the Rs 225-Rs 230 range.

Follow-up

Jindal Iron and Steel (Rs 191.8): The stock ruled firm and managed to move closer to the target zone of Rs 200-Rs 205 mentioned last week.

The near-term outlook remains positive and the stock appears on course to move to this target zone. Remain invested with a stop loss at Rs 179.

Buying may be considered on a break above Rs 196, with a stop loss at Rs 179.

GE Shipping (Rs 141): Last week's view that the stock could move to the Rs 155-Rs 160 range remains valid.

The buy signal was triggered on Thursday and has lent credence to the possibility of a move to the target zone. Stay invested with a stop loss at Rs 130. A move past Rs 145 could be used to take fresh exposures with a stop loss at Rs 135.

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