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B. Krishnakumar

Infosys (Rs 2050.2): The stock ruled firm and also moved to the target range of Rs 2,110-2,120 that was mentioned in the last couple of weeks. The near-term trend appears weak. A drop below the immediate support level at Rs 2,020 would impart further weakness.

Holders of profitable positions may take partial profits or, at least, tighten their stop-loss. At the moment, only a move past 2130 would impart positive momentum.

ITC (Rs 1280.1): As observed in earlier weeks, the long-term outlook remains bullish. The stock could, however, rule weak in the near term. The immediate support lies at the Rs 1220-1230 range. After testing this range, the share price is likely to resume the long-term uptrend.

The stock could move to the target zone of Rs 1450-1500. Existing holders may remain invested with a stop-loss at Rs 1190. A drop below Rs 1190 would blunt the positive outlook.

Cipla (Rs 292): The stock ruled firm as observed last week. The move past the positive trigger level of Rs 288 has confirmed the bullish outlook. From a long-term perspective, the stock appears to have the potential to move to Rs 395-400 range. A move past Rs 310 would lend credence to the long-term bullish outlook.

The positive outlook would be in force as long as the stock trades above the stop-loss level of Rs 270. Hold with a stop-loss at Rs 270. Fresh buying may also be considered with suitable stop-loss in place.

Reliance Ind (Rs 543.4): The stock dropped to the target zone of Rs 475-480 that has been mentioned in the recent weeks.

After hitting a low of Rs 487, the stock recovered ground and closed relatively firm at the end of the week. The recent price pattern suggests that the worst may be over in this counter. The stock is likely to recover ground steadily. A move past Rs 555 would confirm the positive outlook. A drop below the negative trigger level of Rs 510 would blunt the bullish view.

HDFC (Rs 768.2): The stock moved the target zone of Rs 790-800 that was mentioned last week. The long-term outlook for the stock remains bullish.

After a short-term downward corrective phase, the share price is likely to resume the upward move. Investors may use price dips to add this stock to the portfolio. Stop-loss for long positions may be placed at Rs 730.

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