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B. Krishnakumar

HDFC (Rs 715.6): The near-term outlook for the stock is bullish. A move to the target zone of the Rs 745-750 range appears likely. Investors may use price dips to add this stock to the portfolio. The positive outlook would be negated only if the stock drops below the stop-loss level of Rs 680. Stop-loss for fresh purchases and 0for existing holdings may be placed at Rs 680.

Hindustan Lever (Rs 133.1): The stock was confined to a relatively narrow trading zone last week. This has, however, not negated the positive outlook. The earlier view of a move to the target zone of Rs 142-145 remains valid. Existing stakeholders may remain invested with a stop-loss at Rs 127, as a close below this level would blunt the positive outlook. Long positions may be considered, with a close stop-loss, on a move past the positive trigger level of Rs 138. A drop below Rs 127 would warrant dilution of holdings.

Cipla (Rs 265.2): As anticipated last week, the stock ruled weak and appears on course to move to the immediate target zone of Rs 258-263. The recent chart patterns and the downward momentum suggest that the stock could probably weaken further. A drop to the Rs 225-230 level is not ruled out. A drop below Rs 258 would confirm the bearish view. Investors with in-the-money positions may book profit for at least a portion of the holding. Stop-loss for the rest may be placed at Rs 258. fresh buying may be avoided.

Infosys (Rs 2055.2): The stock ruled firm and also moved closer to the target zone of Rs 2110-2120. After touching a high of Rs 2081, the stock turned weak on Friday. The earlier view of a rally to the Rs 2110-2120 range is still valid. Hold with a stop-loss at Rs 1940. The positive outlook would be in force as long as the stock trades above the stop-loss level of Rs 1940.

Reliance Ind (Rs 527.2): As observed in earlier weeks, the stock ruled weak and moved closer to the negative trigger level of Rs 525. The weakness in the stock was instrumental in pulling down the key indices on Friday. The outlook for the stock continues to be bearish. The negative outlook would be valid as long as the stock trades below the positive trigger price of Rs 555. Till such time, the earlier view of a drop to the Rs 475-480 range would be in force.

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