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Sunday, Nov 14, 2004

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Focus of the week

B. Krishnakumar

Gujarat Mineral Development (Rs 306): The outlook for the stock is bullish. The stock could move to Rs 325-Rs 330 range in the near-term.

The positive view would be valid as long as the stock rules above Rs 288. Hold with a stop loss at Rs 288; fresh buying may also be considered with a stop loss at Rs 288.

Visaka Industries (Rs 117.2): The stock appears to be headed towards the target zone of Rs 135-Rs 140 range. A drop below the stop loss level of Rs 100 would negate the positive outlook. Hold with a stop loss at Rs 100, while fresh buying may also be considered with a stop loss at Rs 102.

Follow-up

Thirumalai Chemicals (Rs 124.4): Though the stock failed to make any headway on the upside, the view of a rally to Rs 148-Rs 150 range remains valid.

Hold with a stop loss at Rs 102. Fresh buying may be considered on a move past Rs 128, with a stop loss at Rs 110.

L.G. Balakrishna Brothers (Rs 29.2): After a sharp upward move on Monday, the trend turned weak in the remaining four days. The stock appears to be in a short-term corrective phase. The stock appears on course to move to the target zone of Rs 38-Rs 40. The long-term also remains bullish. The positive outlook would be negated if the share price drops below Rs 22. Stop loss for fresh long positions may be placed at Rs 24.

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