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B. Krishnakumar

Sesa Goa (Rs 561.6): The stock appears to have hit a short-term peak on Friday at Rs 575.6. It is expected to rule weak and a drop to the Rs 525-530 range appears likely. A decline below Rs 525 may push the stock to the Rs 495-500 range. Risk-averse investors may consider partial profit booking. Others may hold with a stop-loss at Rs 540. Fresh buying may be considered on evidence of support at the Rs 515-520 range.

India Cements (Rs 35.6): The stock was covered a couple of weeks ago. It has broken past the earlier mentioned trigger price of Rs 33. A move to the Rs 42-45 range appears likely. Remain invested with a stop-loss at Rs 31. Long positions may also be considered with a stop-loss at Rs 32.

Follow-up

Alembic Chemicals (Rs 114.8): Contrary to the expected upward move, the stock was stuck in a range last week. This, however, has not negated the possibility of a move to the target zone of Rs 130-135. Only a drop below Rs 104 would negate this view. Remain invested with a stop-loss at Rs 104.

Jindal Iron & Steel (Rs 270.3): The stock moved comfortably past the target zone of Rs 255-260. It has moved to a short-term overbought region. Expect either a correction or at least a sideways price action in the near term. Partial profit booking may be considered at present levels. Investors with a high-risk profile may take long positions on a break of 283, with a stop-loss at Rs 255.

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