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B. Krishnakumar

ONGC (Rs 777.8): Contrary to expectation, the stock ruled firm and also managed to move past the positive trigger level of Rs 766.

As anticipated, the move past this trigger level imparted strength. The trend has now turned positive and a move to Rs 800-Rs 805 range appears likely. Hold with a stop loss at Rs 742.

Fresh buying may be deferred. The positive outlook would be valid as long as the stock trades above Rs 730. A drop below Rs 730 could result in a slide to Rs 695-Rs 700 range.

HLL (Rs 126.6): The price movement in this stock was in line with expectations. The near-term outlook for the stock remains unchanged. The share price appears on course to hit the earlier mentioned target zone of Rs 135-Rs 140. As emphasised in earlier weeks, the downside risk in the stock is relatively limited. Hold with a stop loss at Rs 118. Short-term traders may consider long positions on a move past Rs 128, with a stop loss at Rs 119.

Infosys (Rs 1,702.1): The stock moved past the bullish trigger level of Rs 1,650 on Thursday. This imparted strength and helped the index close on a firm note on Friday. The move past the positive trigger level has imparted bullishness. The near-term outlook appears positive and a move to Rs 1,750-Rs 1,760 range appears likely. Hold with a stop loss at Rs1,640. Fresh buying with a tight stop loss may considered on a move past Rs 1,725.

Reliance Ind (Rs 533.3): The stock fell a shade short of the target zone of Rs 485-Rs 488 range. After a move towards this range, the stock reversed direction and managed to move past the buy trigger level of Rs 510. This imparted bullish momentum and the stock closed on a firm note on Friday. The strength in this stock was instrumental in propping the indices. The near-term trend appears positive and a move to Rs 548-Rs 552 range appears likely. Remain invested with a stop loss at Rs 511.

Tata Motors (Rs 418.6): After a weak trend in the first half of the week, the stock staged a sharp recovery in the last couple of trading sessions.

The near-term trend appears positive. A move past the positive trigger level of Rs 423 would trigger a short-term buy signal and could push the stock to higher levels of Rs 432-Rs 435 range. Hold with a stop loss at Rs 398. Stop loss for purchases may be placed at Rs 404.

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