Financial Daily from THE HINDU group of publications
Sunday, Aug 15, 2004
Financial Daily from THE HINDU group of publications Sunday, Aug 15, 2004 |
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Investment World
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Technical Analysis Markets - Technical Analysis Focus of the week B. Krishnakumar
Alembic (Rs 126): The stock was covered a few weeks ago. As mentioned then, the stock is on course to move to the target zone of Rs 130-Rs 135. Remain invested with a stop loss at Rs 110. Long positions may also be considered with a stop loss at Rs 110. A close above Rs 140 would have major positive implications. Gujarat Mineral Development (Rs 200.3): The near-term outlook appears positive and the stock could move to Rs 220-Rs 225 range. A move past Rs 211 would be a trigger to buy the stock. All long positions would warrant a stop loss at Rs 194. A decline below Rs 193 would blunt the positive outlook. Follow-up Sesa Goa (Rs 542.4): The stock ruled weak and moved closer to the target zone of Rs 525-Rs 530 range mentioned last week. The stock appears on course to move to this target zone. Aggressive traders may book profits partially and contemplate re-entry on declines. The long-term outlook for the stock is positive and the long-term upward trend would continue after the completion of the expected downtrend. India Cements (Rs 35.4): After a weak trend on a couple of days, the stock registered a sharp rise on Friday. The earlier view of a rally to Rs 42-Rs 45 range is valid. Remain invested with a stop loss at Rs 31. Long positions may also be considered with a stop loss at Rs 32.
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