Financial Daily from THE HINDU group of publications
Sunday, Oct 03, 2004
Financial Daily from THE HINDU group of publications Sunday, Oct 03, 2004 |
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Investment World
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Technical Analysis Markets - Technical Analysis Focus of the week B. Krishnakumar
Sesa Goa (Rs 694.9): The stock has been covered on quite a few occasions in the recent months. The latest recommendation was featured in the edition dated August 22 and the stock has moved comfortably past the target zone that was mentioned. The outlook continues to be positive. A move to Rs 745-Rs 750 range appears likely. Hold with a stop loss at Rs 620. Fresh buying may also be considered on price declines with a stop-loss at Rs 660. Bank of India (Rs 52.8): The stock could move to Rs 63-Rs 65 range. This view would be valid as long as the stock trades above the stop-loss level of Rs 46. Hold with a stop-loss at Rs 46; fresh buying may be considered on a close above Rs 54, with a stop-loss at Rs 49. Follow-up Crompton Greaves (Rs 229.4): After initial weakness, the stock moved up sharply on Friday on the back of a spurt in volumes. The stock appears to be on track to reach the target zone of Rs 245-Rs 250 range. Hold with a stop loss at Rs 205. Fresh buying may also be considered with a stop loss at Rs 205. Tata Sponge Iron (Rs 154.9): Though the share price was confined to a narrow trading zone, it has not negated the positive outlook. The stock appears on course to move to the target zone of Rs 175-Rs 180 range. Hold with stop loss at Rs 146. A fall below Rs 145 would warrant dilution of holdings.
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